The Security Analysis Podcast

This podcast is a discussion between Matt Cochrane & I about the book, Nothing But Net: 10 Timeless Stock Picking Lessons from one of Wall Street’s Top Tech Analysts by Mark Mahaney. Mark Mahaney was an early analyst of internet companies in the late ‘90s and has continued to invest in these companies over the decades. The book is interesting because it’s a real world account of a growth investor...

This episode is with a returning guest to the podcast - Tobias Carlisle. We talk about his new book, “Soldier of Fortune: Warren Buffett, Sun Tzu, and the Ancient Art of Risk Taking” The book takes a close look at Sun Tzu’s philosophy and then applies it to the deal making of Warren Buffett. The book focuses on Warren Buffett’s deals since Coke. I like this because the focus of Buffett books is of...

In this podcast, Matt Cochrane & I discuss “The Outsiders: Eight Unconventional CEOs” and their radically rational blueprint for success by William Thorndike Jr. The book was written in 2012 and breaks down 8 amazing CEO’s. The CEO’s discussed are: Henry Singelton, Warren Buffett, Tom Murphy, John Malone, Dick Smith, Bill Anders, and Bill Stiriz, and Katharine Graham. I had never read this book, b...

Matt Cochrane & I recently read “ The Einstein of Money: The Life and Timeless Financial Wisdom of Benjamin Graham .” This podcast is a discussion about this book. The book alternates between vivid chapters about Graham’s remarkable life story and follows with chapters that offer clear explanations of his most enduring financial principles. It’s a fascinating portrait of the man who pioneered valu...

In this episode, Jared Dillian returns to the podcast. We’ve talked before and I encourage you to check out those episodes, discussing his short story collection (Night Moves) and his personal finance book, No worries. For those unfamiliar with his work, Jared was previously a trader at Lehman Brothers, writes the Daily Dirtnap financial newsletter, and is a prolific writer. Today we’re talking ab...

Today I’m speaking with Nick Maggiulli. Nick is the COO of Ritholtz Wealth Management . His blog, Dollars and Data, explores a variety of financial topics with actual data & facts as opposed to vague opinions, which is what a lot of financial blogs do. He’s a returning guest to the podcast. We previously discussed his book, Just Keep Buying. Today, we’re talking about his new book, The Wealth Ladd...

This is a discussion between Matt Cochrane & I about Buffett: The Making of an American Capitalist by Roger Lowenstein. This was the first biography of Warren Buffett, published in 1995, and it remains one of the best. It was written when Buffett was already an investing legend, one of the wealthiest men in the world, and well-known in the investing community. However, it was before Buffett was a...

JL Collins is the godfather of financial independence. This is my second conversation with JL and I encourage you to check out the first one. He is the author the most iconic books about personal finance and financial independence - The Simple Path to Wealth . He is an advocate of index investing and the power of saving large percentages of income. He is now releasing an updated edition of The Sim...

In this podcast, Matt Cochrane and I discuss Buffettology , a book written in the late 1990’s by Mary Buffett. She wrote this book about what she learned about Buffett’s investing methods from when she was married to Peter Buffett. I think that the book is a pretty good summary of Buffett’s investing approach, especially for people that are unfamiliar with it. This was one of the first books I rea...

Today’s podcast is a discussion between Matt Cochrane and I about 100 Baggers: Stocks That Return 100-to-1 and How To Find Them , by Chris Mayer. A 100 bagger is a stock that increases by 100-1. In other words, $10,000 turns into $1,000,000. Breaking it down mathematically, a 14% return achieves a 100 bagger in 35 years. A 20% return does it in 25. 26% does it in 20 years. Chris Mayer did a study...

Cait is a Canadian writer who first gained recognition with her blog, Blonde on a Budget , where she documented her journey of paying off $30,000 in debt. That experience became the foundation for her exploration of minimalism, mindful consumption, and intentional living. She later wrote a bestselling book - The Year of Less - where she took on a year-long shopping ban that transformed her relatio...

Dan Rasmussen is the founder and portfolio manager at Verdad. Verdad runs capital with rules-based ideas and a strong focus on leveraged small cap value stocks. He has published fascinating research across multiple topics. Today we’re going to talk about his new book, The Humble Investor, which summarizes many of his key ideas for a wide audience. Links * The Humble Investor: https://www.amazon.co...

Today I am speaking with Philoinvestor. His process combines business analysis with a macro overlay and he writes on substack about his ideas. He is a returning guest to the podcast. We last spoke a year ago and I encourage you to check out that podcast. Links: * Philoinvestor Twitter feed: https://twitter.com/philoinvestor * Philoinvestor Substack: * Our first podcast: Disclaimer Nothing on this...

Today’s podcast is solo. I discuss the stock list, which is my version of the magic formula. Links * Ben Graham’s Low P/E, Low Debt/Equity Method: https://alphaarchitect.com/wp-content/uploads/2011/04/Simple-and-Easy-Approach-Medical-Economics-Graham-1976.pdf * The Little Book that Beats the Market: https://www.amazon.com/Little-Still-Market-Books-Profits-ebook/dp/B003VWCQB0/ * The 2025 VSG Stock...

This podcast is a conversation with Alex Morris, who writes the Science of Hitting substack, where he performs deep dives & diligence into companies and posts real time updates about his personal portfolio. Alex is a returning guest, and I encourage you to check out our previous podcasts. Today we are talking about his new book, Buffett & Munger Unscripted . Alex did a deep dive into all of the an...

Matt Cochrane and I discuss The Big Short by Michael Lewis. On our last podcast, we talked about Liar’s Poker , Michael Lewis’ book about the bond market in the 1980’s. The Big Short is very much the sequel to Liar’s Poker and it chronicles multiple investors who shorted the housing bubble of the 2000’s. Links. The Big Short: Inside the Doomsday Machine by Michael Lewis: https://www.amazon.com/Big...

Brett Gardner is author of the book Buffett’s Early Investments . The book analyzes key Buffett investments from the 1950’s and 1960’s, a period in which he had his most extraordinary returns. During the partnership years (1957-69), Buffett put together one of the greatest investment track records of all time, earning an astounding 29.5% CAGR without reporting a single down year. According to Buff...

Matt Cochrane & I are reuniting to discuss Liar’s Poker by Michael Lewis. Liar’s Poker is Michael Lewis’s first book about his time working at Salomon Brothers in the 1980’s. Liar’s Poker chronicles an extraordinary boom on Wall Street in the 1980s and serves as an expose and cautionary tale about the excesses of Wall Street. The world has changed a lot since then, but I think that the themes iden...

Today I am talking with Nelson, the Canadian Dividend Investor. He has been on the podcast before. We had a previous episode where we discussed his investing process. We also discussed two investing classics, the Snowball, Warren Buffett’s biography, and discussed the life of Peter Cundill. Today we’re going to catch up and talk about current market conditions. Some topics covered: * The US electi...

Jason Buck is the CIO of Mutiny Funds. He specializes in volatility, options hedging, and portfolio construction. I wanted to speak to him because I like his concept of a cockroach portfolio – a portfolio well designed to survive in many different environments. This podcast covers concepts like trend following, tail risk hedging, and managed futures. Links: * Mutiny Fund: https://mutinyfund.com/ *...

Today I’m speaking with Daniel Crosby. He has been on the podcast before and I encourage you to check out that episode, where we discussed his background and his book, The Behavioral Investor . He is a trained psychologist and a financial advisor. Today we are going to talk about his new book, The Soul of Wealth . Links * The Soul of Wealth: https://www.amazon.com/Soul-Wealth-reflections-money-mea...

Today Matt Cochrane & I are discussing a great business book, Sam Walton: Made In America . The book is Sam Walton’s autobiography and guiding you through the life of Sam Walton and the tremendous growth phase of Wal Mart from the 1960’s through the early 1990’s. Links: * The book, Sam Walton, Made in America . https://www.amazon.com/Sam-Walton-Made-America-ebook/dp/B008ZPG704/ * Long Term Mindset...

In today’s episode, Jared Dillian returns to the podcast. We last spoke a year ago about a collection of his essays, Those Bastards , and his personal finance book, No Worries . For those unaware, he previously worked as a trader at Lehman Brothers and writes the popular Daily Dirtnap newsletter. Today we’re going to talk about the current financial climate and his new book, Night Moves , which is...

Today’s episode is a solo episode where I answer questions from Twitter. Topics covered: * Berkshire’s cash position. * Sell rules. * Passive flows. * Interest rates & stock valuations. * Lessons from the SMCI crash. * The role of bonds in a portfolio. * General rules about ETF’s. * Stock market valuations. * Ulta & Nike. Disclaimer Nothing on this podcast is investment advice. The information in...

Paul Cerro is a professional investor who runs Cedar Grove Capital Management, which focuses on long/short equity, merger arb, IPOs, and special situations. He also operates a substack where he posts his thoughts on various stocks and market trends. Links * Paul’s Twitter Feed: https://x.com/paulcerro * Cedar Grove Capital Management: Disclaimer Nothing on this podcast is investment advice. The in...