Doug Terreson - Can't Deny It

A Book with Legs

Smead Capital Management

Investing, Business, Management

4.2 • 1.1K Ratings

🗓️ 3 February 2025

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this special taping, live from the 2025 Smead Investor Oasis, legendary Wall Street analyst Doug Terreson joins Portfolio Managers Cole Smead and Bill Smead to explore his book "Can't Deny It". They will be discussing Terreson's successful market predictions in the past, what the demand and figure growth of the industry look like, and will also be taking questions live from the audience.

Transcript

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0:00.0	You're listening to A Book with Legs, a podcast presented by Smead Capital Management.
0:08.0	At Smead Capital Management, we advise investors who fear stock market failure.
0:12.9	You can learn more at Smeadcap.com or by calling your financial advisor.
0:26.5	Welcome to a book with legs podcast. I'm Cole Smead, CEO, and portfolio manager here at Smead Capital Management. At our firm, we are readers, and we believe in the power of books to help
0:31.8	shaped informed investors. In this podcast, we speak to great authors about their writings. The
0:36.7	late great Charlie Munger prescribed
0:38.3	using multiple mental models and analysis. We analyze their work through the lens of business,
0:43.7	markets, and people. Hosting this alongside me is our chairman and chief investment officer, my dad,
0:50.2	Bill Smead. Dad, thanks for joining me. We're going to have some fun and looking forward to a great book.
0:55.7	Little rock and roll.
0:57.2	I will also say, you know, for people that are listening, obviously, you know, ex ante online.
1:03.3	This is an exciting day for Bill and I in the episode for the podcast.
1:06.8	As we haven't yet mentioned, the other people that are here with us. I'm very proud to be sitting here
1:12.2	with the investors of Smead Capital Management, and I'm proud to have them join us live from the Smead
1:16.6	investor oasis. Thank you for all being here, everyone. So I'm going to give, I'll give a shout out to my colleague my colleague Will Keenan who actually brought this book to us and our attention. In this episode we will discuss much of the last 30 years of the oil business. We will talk about the structural changes that have happened, how the focus has changed over time, and how it continues to evolve. Joining us is Doug Tereson to talk
1:44.8	about his recently published book, Can't Deny it. A big round of applause for Doug and
1:49.2	want to thank you personally for joining us today, Doug. Thank you so much.
1:52.7	So for those of you that aren't familiar with Doug's background, like Connor
1:57.8	mentioned, he is kind of a very tenured and storied Wall Street career.
2:02.2	He's the former head of energy research at Evercore ISI, and before that Morgan Stanley,
2:06.4	where he covered the integrated oil, E&P, and refining and marketing sectors.
2:11.5	Prior to that, Doug managed Putnam's Energy Mutual Fund in Boston, the byside part of your career,
	...

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