Investing Unscripted

In this month’s livestream, Jason and Jeff discuss the Q2 portfolio contest winner, the recent performance of SoFi and QuantumScape, and share their economic predictions amidst ongoing tariff talks.

00:32 First Friday Live Stream Tradition

01:16 Engaging with the Audience

01:27 Investing Unscripted 2025 Portfolio Contest

02:44 Discussing Rocketing Stocks: SoFi and QuantumScape

04:13 SoFi: A Deep Dive

16:22 QuantumScape: The Future of...

Jason and Jeff discuss concentration vs. diversification in investing, examine personal factors like risk tolerance and time. The conversation includes their own investment journeys and how portfolios can become more concentrated over time. 

01:36 Main Topic: Concentration vs Diversification

01:43 Warren Buffett vs Peter Lynch

03:38 Berkshire Hathaway's Portfolio

04:48 Personal Investment Strategies

07:23 Temperament and Risk Tolerance

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Jason and Jeff discuss how to manage long-term investment strategies with short-term information. Inspired by a Patreon member's question, they delve into the challenges investors face when trying to balance immediate news and quarterly reports with the vision of holding stocks for decades. 

00:15 The Origin of Today's Topic

00:53 Balancing Short-Term Information with Long-Term Goals

02:17 John's Suggestion and Our Approach

04:44 Ident...

Jason and Jeff welcome Alex Morris, a second-time guest and author of 'Buffett and Munger Unscripted.' The trio discusses the significance of Berkshire Hathaway meetings and the making of Alex's book. They delve into Warren Buffett's and Charlie Munger's investment philosophies, the evolution of their strategies, and how individual investors might apply these lessons. 

01:03 Introducing the Guest: Alex Morris

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Jason and Tyler discuss market efficiency, referencing Cliff Assnes's paper on the 'Less Efficient Market Hypothesis.' They explore value investing, the influence of social media on market behavior, and strategies for individual investors. The hosts emphasize the importance of exploring under-the-radar stocks and maintaining a mix of index funds and individual picks, advocating for thoughtful, long-term investment strat...

Jason and Jeff chat with Todd Wenning, founder of KNA Capital and creator of the Flyover Stocks newsletter. They discuss Todd's origin story in investing, the importance of management and company culture in evaluating investments, and how durable competitive advantages play a role. The conversation also explores the current economic landscape, strategies for navigating market volatility, and offers advice for retail investors. 

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It’s the June First Fridays (on the second Friday) and we discuss the economic impact of recent global events, ethical considerations in investing, the potential implications of tariffs, and interact with our live audience. Subscribe to our Patreon to get notified of the next livestrem.

02:16 Discussing Recent News Events

04:17 Ethics in Investing

13:15 Community Shoutouts and Comments

18:45 Market Predictions and Strategies

31:24 Marke...

Jason and Jeff delve into the volatile market landscape of 2025. They discuss the implications of tariffs, inflation, and their personal investment strategies during turbulent times.

02:29 Market Trends and Personal Portfolio Insights

07:26 Tariffs and Their Impact on the Market

17:28 Investor Strategies and Market Reactions

24:54 Reflecting on Market Timing and Cash Management

25:48 Changing Investment Strategies Over Time

26:21 Challen...

Is it getting harder to find an edge as an investor? Jason and Jeff discuss the increasing availability of financial education and whether this shift impacts the traditional edge held by long-term investors. 

01:31 Today's Topic: Finding an Edge in Investing

01:47 Ben Carlson's Insights on Smart and Dumb Money

05:01 Defining Smart Money vs. Dumb Money

05:53 Retail Investors and Market Dynamics

06:59 Personal Investment Strategie...

Jason and Jeff dive into the mailbag to answer listener questions. They compare Google to America, discuss the potential long-term impacts of extreme US political moves on the stock market, evaluate the risks and rewards of investing in Enphase Energy amidst recent legislative changes, and more. 

01:43 Addressing Criticisms and Mailbag Introduction

02:28 Comparing Google and America

03:49 Political Parallels and Alphabet's Strengths

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Jason and Jeff announce the launch of their Patreon page to build a dedicated community for their listeners. The episode covers the motivations behind the move, benefits for subscribers, including access to a Discord community, exclusive content, and the importance of having a network of like-minded investors. They also discuss their journey in the investing community and how it has shaped their investing philosophies.

00:48 Excitin...

ason and Jeff challenge well-known investing advice to determine if it fits every individual circumstance. They discuss personal experiences and observations on topics such as when to hold cash, the relevance of Warren Buffett's advice for average investors, the importance of investing within one's circle of competence, and the nuances of managing risk and debt. 

01:35 Reflecting on the Omaha Trip

03:08 When Good Advice is Bad

04:13 D...

This Month’s livestream was live from Omaha, as Jason, Jeff, and Tyler had just returned from the Berkshire Hathaway annual meeting. They discuss the future of Berkshire, especially after the announcement that Warren Buffett will be stepping down as CEO at the end of the year.

00:17 Live from Omaha: Setting the Scene

00:54 Big News: Warren Buffett's Retirement Announcement

02:57 Reactions and Speculations on Buffett's Retireme...

Before heading to Omaha for the Berkshire Hathaway Annual Meeting, Jason and Jeff speculated on the company’s future and made reckless predictions about what might happen at the meeting. Now, we get to see if they were right or wrong! 

00:39 Preview of Berkshire Hathaway Annual Meeting

01:59 Discussion on Berkshire's Investments and Predictions

04:09 Understanding Berkshire's Business Structure

14:07 Lessons from Buffett and Munger

24:3...

Jeff and Jason dive into listeners' questions about investment time horizons, optimizing emergency funds, and classifying consumer staples. Key highlights include thoughts on speculative vs. strong conviction positions, the potential pitfalls of using a Roth IRA for emergency funds, and evaluating traditional 'defensive' consumer stocks in today's market.

00:53 Mailbag Time: Answering Your Investing Questions

02:31 Travel Plans and U...

This week, Jason and Jeff are happy to present an episode of the Chit Chat Stocks Podcast, where Ryan Henderson and Brett Schaefer analyze their personal investment portfolios. They discuss their top holdings, investment strategies, position sizes, and watchlist picks. If you enjoy this episode, subscribe to the Chit Chat Stocks Podcast anywhere you enjoy podcasts.

00:33 Crossover Episode Announcement

02:12 Chitchat Stocks Podcast In...

Jason and Tyler discuss the importance of sound corporate governance, particularly during economic uncertainty such as tariffs. They emphasize conservative investment underwriting and evaluating management incentives. Tyler highlights two professional services firms, FTI Consulting and EXL Services, which can excel in shifting environments. Jason shares recent investments in companies like First Solar, Live Oak Bank, and QXO, and t...

Jason and Jeff welcome Ben Carlson from Ritholtz Wealth Management, author of A Wealth of Common Sense. The discussion delves into Ben's unique career journey in finance, key investing strategies, and the importance of asset allocation. They also touch on the pitfalls of market timing, the impact of macroeconomic factors, and the burgeoning influence of AI on markets. 

00:48 Ben Carlson's Career Journey

01:54 Investment Strat...

Jason and Jeff discuss the current market volatility amidst new tariff announcements by President Trump, providing real-time reaction to the whipsaw market behavior and share their strategies for navigating this uncertain period. Jason details his use of options to manage risk and build positions, while Jeff focuses on sticking to his established investing framework. They also explore the implications of a prolonged economic downtu...