The Smead Book List - Fall 2024
A Book with Legs
Smead Capital Management
4.2 • 1.1K Ratings
🗓️ 30 September 2024
⏱️ 46 minutes
🧾️ Download transcript
Summary
In this episode, Smead Capital Management CEO Cole Smead and CIO Bill Smead talk about the firm's quarterly book list. They also discuss the state of markets and the economy, investment lessons learned, and much more. Listen in to hear what books they have recently read, what they are currently reading, and the books they have on deck.
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. |
| 0:20.6 | Welcome to a book with legs podcast. I'm Cole Smead, CEO and portfolio manager here at |
| 0:25.6 | Smead Capital Management. At our firm, we are readers and we believe in the power of books to |
| 0:30.4 | help shaped informed investors. In this podcast, we speak to great authors about their writings. |
| 0:35.4 | The late great Charlie Munger prescribed using multiple mental models and analysis. |
| 0:39.8 | We analyze their work through the lens of business, markets, and people. |
| 0:44.7 | Today's date is September 30, 2024. |
| 0:47.5 | This is our quarterly book list where we talk about books, books, and more books. |
| 0:53.1 | Hosting this with me is our chief investment officer, my dad, Bill |
| 0:56.1 | Smead. Thanks for joining me. Great to be here. So let's start out talking about what we've |
| 1:01.0 | recently read. Do you want to kick it off? Sure. As if I didn't need to inundate myself more. |
| 1:08.6 | I was recommended technological revolutions and financial capital by Carlotta |
| 1:12.6 | Perez, which is about a 20-year-old book that was written in response to the technology bubble of |
| 1:20.6 | 99, 2000. And what's so interesting since this podcast is named after Charlie Munger, I went to the Berkshire |
| 1:30.3 | Hathaway annual meeting in May, and they started with a bunch of vignettes honoring Charlie |
| 1:35.0 | because he passed this last year. |
| 1:36.4 | And the first vignette they started with was Charlie back in 99 at the annual meeting |
| 1:42.8 | saying, you know, if you have a financial euphoria episode, |
| 1:46.6 | it's like a chain letter or a Ponzi scheme. |
| 1:49.4 | And if you throw a legitimate development into it, it's like mixing raisins with turds. |
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