Frederik Journals

I am a big fan Marc Rubinstein and his Net Interest substack and was very excited to finally record a conversation with him. Marc previously covered financials and fintech as a research analyst and hedge fund investor and now shares his takes on the sector with his readers on a weekly basis. It’s a very well written and insightful lens on a fascinating corner of the market. We talked about banks,...

Hello everyone, I’m happy to share my conversation with my friend Nick Maggiulli who writes the excellent personal finance blog Of Dollars and Data . Nick just came out with his first book: Just Keep Buying: Proven Ways To Save Money And Build Your Wealth . Nick combines his empirical research with a personal perspective and I really like that he distills the work down into rules that are effectiv...

“We begin our lives as growth stocks and end our lives as value stocks.” I’m happy to share my conversation with my friend Nick Maggiulli who writes the excellent personal finance blog Of Dollars and Data . Nick just came out with his first book: Just Keep Buying: Proven Ways To Save Money And Build Your Wealth . He uniquely combines his data-driven research with a personal perspective and I reall...

Hello everyone, I’m excited to share my second conversation with Sebastian Mallaby. Last time, we discussed his book More Money Than God . A quote from that conversation stuck with me: “The key was to do an unreasonable amount of preparation work. It shows you're serious and not wasting people's time by asking the obvious questions.” This time, we discussed The Power Law (see my write-up ) in whic...

Hello everyone, I’m excited to share my second conversation with Sebastian Mallaby. Last time, we discussed his book More Money Than God . A quote from that conversation stuck with me: “The key was to do an unreasonable amount of preparation work. It shows you're serious and not wasting people's time by asking the obvious questions." This time, we discussed The Power Law (see my write-up ) in whic...

Hello everyone, I’m excited to share my conversation with Mary Childs , author of The Bond King ( and co-host at Planet Money ) on the rise and fall of legendary bond manager Bill Gross. You can listen to this conversation on your podcast player of choice: Spotify , Apple , at anchor , and via RSS . You can also add the Substack podcast feed to your favorite podcasting app via the link on the bott...

I’m excited to share my conversation with Mary Childs , author of The Bond King ( and co-host at Planet Money ) on the rise and fall of legendary bond manager Bill Gross. Mary and I talked about Bill’s breakfast habits (did low blood sugars end his career?!), his card counting days, the culture of paranoia at PIMCO, how he combined multiple sources of edge into “structural alpha” for long-term out...

Hello everyone, I’m excited to share my conversation with Max Frumes , co-author of The Casesar’s Palace Coup (with Sujeet Indap ). I’m a big fan of the book and previously shared some notes on Twitter . It’s a deep dive into the buyout and bankruptcy of casino giant Caesar’s Entertainment and the slugfest between investors like Apollo, Oaktree, Appaloosa, GSO, Elliott, and some of the nation’s mo...

I’m excited to share my conversation with Max Frumes , co-author of The Casesar’s Palace Coup (with Sujeet Indap ). I’m a big fan of the book and previously shared some notes on Twitter . It’s a deep dive into the buyout and bankruptcy of casino giant Caesar’s Entertainment and the slugfest between investors like Apollo, Oaktree, Appaloosa, GSO, Elliott, and some of the nation’s most expensive law...

Hello everyone, I’m happy to share my conversation with Evan Tindell of Bireme Capital . I’ve enjoyed Evan’s thoughtful letters over the past couple of years and it was time to talk about this approach to investing. We dove into Evan’s background as a poker player, how he looks to exploit biases in his investment process, and how he navigated the ‘20-’21 bubble in growth stocks as a short-seller a...

I’m happy to share my conversation with Evan Tindell of Bireme Capital . I’ve enjoyed Evan’s thoughtful letters over the past couple of years and it was time to talk about this approach to investing. We dove into Evan’s background as a poker player, how he looks to exploit biases in his investment process, and how he navigated the ‘20-’21 bubble in growth stocks as a short-seller and value-oriente...

Happy Friday everyone! I’m very excited to share with you my conversation with Jimmy Soni. We discussed the many lessons from his new book The Founders about the origins of Paypal. I had an absolute blast and would highly recommend the book if you’re interested in business, technology, startups, and examples of company culture I hope you enjoy the conversation as much as I did. You can listen to i...

“PayPal started off as a product with no use case. Then we had a use case but no business model. Then we had to build a sustainable business.” Amy Klement I’m very excited to share my conversation with Jimmy Soni, the author The Founders: The Story of Paypal . [00:01:00]: Introduction, how did Jimmy find the story and go about the research process? [00:17:00]: Paypal’s unique team and recruiting....

This is my conversation with Will Thomson of Massif Capital , a long-short fund in real assets, and particularly the “sectors most important to a low carbon economy: Energy, Basic Materials and Industrials.” It complements a written Q&A on the firm's process and thematic outlook. A few highlights: Will is fairly bearish on the current setup of a stable, globalized world. He believes we’re movi...

Hello everyone, Today I’m happy to share a conversation and written Q&A with Will Thomson and Chip Russell of Massif Capital , a long-short fund in real assets, and particularly the “sectors most important to a low carbon economy: Energy, Basic Materials and Industrials.” I’ve long enjoyed their letters and white papers and used the Q&A to learn more about their process and worldview. With Russia’...

This is a re-upload of the episode at higher volume after some feedback that the conversation was difficult to understand on some devices. I’m very excited to share with you all a conversation with my friend Dan McMurtrie of Tyro Partners. The entire interview is about a topic that I believe is under-discussed but of vital importance to any investor: resilience and recovery when dealing with susta...

You can listen to the episodes at: Spotify , Apple , at anchor , and via RSS . Find Transcript here. Hello everyone. I’m very excited to share with you all a conversation with my friend Dan McMurtrie of Tyro Partners. The entire interview is about a topic that I believe is under-discussed but of vital importance to any investor: resilience and recovery when dealing with sustained pressure and stre...

I’m very excited to share with you all a conversation with my friend Dan McMurtrie of Tyro Partners. The entire interview is about a topic that I believe is under-discussed but of vital importance to any investor: resilience and recovery when dealing with sustained pressure and stress. I believe this is crucial to longevity in investing. A number of great investors have commented or hinted at the...

Hi everyone. Another week has gone by and the war in Ukraine continues. It feels self-indulgent to even write about investing from the comfort of a safe and warm home. Last weekend, I went to Washington Square Park to a demonstration. It wasn’t as big a crowd as I had expected. Some Ukrainian friends went to Washington DC. Many more are active on Instagram, venting their anger, sharing their fears...

I'm reading my full piece David Tepper: The King of Bouncing Back and key takeaways from the second part, What I Learned From David Tepper . You can find both pieces with all quotes and sources on my substack: neckar.substack.com . “For better or worse we’re a herd leader. We’re at the front of the pack. We're one of the first movers. First movers are interesting; you get to the good grass first,...

Hello everyone. Today I’m joined by my dear friend Tom Morgan for a wide-ranging conversation around finding flow, recognizing resonance, the idea of moloch and slack, prophets and truth in the modern world, embodiment, and connecting mind and heart. Tom is one of my favorite writers and idea synthesizers. You can find his work at the KCP Group and on Twitter . It was a deeply personal conversatio...

Today I’m joined by my dear friend Tom Morgan for a wide-ranging conversation around finding flow, recognizing resonance, the idea of moloch and slack, prophets and truth in the modern world, embodiment, and connecting mind and heart. Tom is one of my favorite writers and idea synthesizers. You can find his work at the KCP Group and on Twitter . It was a deeply personal conversation because I stru...

Hello everyone. I’m very excited to share my conversation with Rob Wertheimer of Melius Research and one of the co-authors of Lessons from the Titans ( my notes ) I really enjoyed digging into the book’s big themes around the culture and business systems of some of the most successful industrial companies. Rob shared his lessons on finding other compounders, evaluating leaders, digging into incent...

I’m very excited to share my conversation with Rob Wertheimer of Melius Research and one of the co-authors of Lessons from the Titans ( my notes ) I really enjoyed digging into the book’s big themes around the culture, business systems, and leadership of some of the most successful industrial companies. Rob shared his lessons on finding other compounders, evaluating leaders, digging into incentive...

You can find the episode on: Spotify , Apple , Google , RSS , and anchor . “It's all about how you gain control over your mind. It's all an inside job.” Hello everyone. I’m very excited to share my conversation with William Green ( @williamgreen72 ), the author of RICHER, WISER, HAPPIER: How the World's Greatest Investors Win in Markets and Life . It’s one of my favorite investment books this year...