Best of the Week

Special Paper #12  (Article | 17 mins)

There are 1,544 companies in the MSCI World Index. So far this year, 7 are responsible for 77% of the market’s return. Troy and Marc de Vos explore the conditions creating this historic narrowness.

Pair with: Our conversation with Aswath Damodaran on making sense of the market.

 Birth, Death, and Wealth Creation (Article | 65 mins)

Michael Mauboussin and Dan Callahan share some startling statistics about the demographics of US public companies and their wealth creation patterns.

Pair with: Our discussion with Michael on the shift from public to private markets.

The Tail End (Article | 4 mins)

With summer in full swing, this is your periodic reminder to spend time with your nearest and dearest.

Pair with: Our conversation with Tim on idea labs.

We want to see where you listen to our podcasts!

#ListenHere

We want to see where you listen to Colossus podcasts. The beauty of audio is you can listen and learn anywhere. Get outside and make us jealous. Share your view with us on Twitter, LinkedIn, and Instagram using #ListenHere, and we’ll feature our favorites throughout August.

 Invest Like the Best - Chris Paik

Guest: Chris Paik – co-founder of Pace Capital

See investing, entrepreneurship, and human motivation in a new light. Chris discusses models for spotting opportunities in market shifts, the importance of human-to-computer write speeds, and how to use fundamental human motives to understand business and investing.

Pair with: Learning from Nick Sleep (Article | 19 mins)

A distillation of Nick’s legendary Nomad letters. Soak up the wisdom.

Invest Like the Best is brought to you by Tegus. Tegus is the modern research platform for leading investors. Tired of running your own expert calls to get up to speed on a company? Tegus is the gold standard for research, delivering unmatched access to timely, qualitative insights through the largest and most differentiated expert call transcript database. With over 60,000 transcripts spanning 22,000 public and private companies, investors can accelerate their fundamental research process by discovering highly-differentiated and reliable insights that can’t be found anywhere else in the market. As a listener, drive your next investment thesis forward with Tegus for free at tegus.co/patrick.

Business Breakdowns - Copart

Guest: Adam Mead - CEO and CIO of Mead Capital Management

Learn how little-known vehicle auction giant Copart grew from a single junkyard to become a $40 billion business, carving out a deep moat and becoming a case study in exemplary cash flow management in the process.

Read Adam’s Copart write-up for free here. Choose the October 2022 Copart issue and use the code "Breakdowns" for 100% off.

Pair with: Junk to Gold (Book | 192 mins)

Learn more about the history and strategy of Copart, told through the eyes of founder Willis Johnson.

Business Breakdowns is brought to you by Tegus. Tegus is the modern research platform for leading investors, and provider of Canalyst. Tired of calculating fully-diluted shares outstanding? Access every publicly-reported datapoint and industry-specific KPI through their database of over 4,000 driveable global models handbuilt by a team of sector-focused analysts, 35+ industry comp sheets, and Excel add-ins that let you use their industry-leading data in your own spreadsheets. Tegus’ models automatically update each quarter, including hard-to-calculate KPIs like stock-based compensation and organic growth rates, empowering investors to bypass the friction of sourcing, building and updating models. As a listener, you can trial Canalyst by Tegus for free by visiting tegus.co/patrick.

What Our Listeners Are Saying:

Founders - Christopher Nolan

Episode 313: Christopher Nolan: The Nolan Variations

Amidst thunderous applause for Oppenheimer, Senra dives into the creative mind of director Christopher Nolan. Learn how he discovered his passion for film, broke into the industry, and how his distinctive approach shapes his personal life. A fantastic episode on one of the most celebrated filmmakers of our time.

Founders is brought to you by Eight Sleep. Get the best sleep of your life and unlock more energy with the Pod 3. Go to eightsleep.com/founders to learn more.

Making Media - Forbes

Guest: Matt Reustle & Dom Cooke – CEO and Head of Content at Colossus

Dom and Matt kick up the hornet's nest. The former investors turned media operators analyze Forbes's business, its reported $800m valuation, and the lessons media executives can learn from the iconic media brand.

Pair with: Forbes Analyst Day Presentation (Investment Memo | 58 mins)

See what management say about their business as they look for an $800 million sale.

Making Media is brought to you by Scribe. Scribe is the magic behind Colossus transcripts. One of the best decisions we made at Colossus was transcribing all of our audio into a searchable transcript library. We had been using another provider up until the summer of 2022 but we were constantly having issues with accuracy if our audio was just the slightest bit impaired. Whether it's training sessions, internal Q&As, or for media purposes, the value of transcripts is huge. And we are not alone. Scribe is the transcription service that powers all of S&P Global - like CapIQ - and the client list includes our friends at Tegus. Go to joincolossus.com/scribe to unlock 150 minutes of free transcription and test their capabilities.

Web3 Breakdowns - Quarterly Recap

Guest: Eric Golden - Host of Web3 Breakdowns.

Yet another action-packed three months in Crypto. Eric and Matt discuss how the market reacted to the SEC Lawsuit and XRP ruling, and what it means for crypto going forward

Pair With: Ripple Is a Security and It Isn’t - Bloomberg (Article | 20 mins)

With his usual combination of wit and clarity, Matt Levine breaks down the head-scratching XRP ruling.

Web3 Breakdowns is sponsored by OKX. Want to stop paying trading fees? You can now trade for free for two months with OKX. Over 20 million traders and institutions choose OKX when they want to trade. And you can join them by signing up at OKX Trader Series to start your two months of fee-free trading today.

Pioneer Program

Thanks to Mohammad Ruhul Kader, Erick Mokaya, and Jefferson Rumanyika for their help and research this week.

Want to get involved in Colossus? We are always on the lookout for pioneers to help grow our content library. If you are interested - let us know here.