2025-01-26
1 小时 12 分钟You're listening to Tip One key to.
Some of the legendary investors most significant investments was their deep understanding of a business.
Whether you look at people like Warren Buffett, Lilou, or Philip Fisher, these guys just knew how to understand a business better than nearly anybody else out there.
They used this knowledge to their advantage, finding investments that were unloved or orphaned unnecessarily.
Today, I will cover a wide range of people that you can talk to to understand a business at an extremely high level.
From my research into scuttlebutt, I found four primary parties that you want to talk to to improve your understanding of a business.
I'll cover precisely who those parties are and what you should ask them to enhance your own business acumen.
Now you might be wondering, why should I add the scuttlebutt method when researching a stock?
After all, isn't reading public information enough to understand the business?
And to answer that, I would say yeah, you probably can learn a lot about a company via public filings, research reports, earnings calls and earnings reports.
But you will never understand a business to its full extent using these resources exclusively.
If you want an edge in investing, you have to work for it.
And scuttlebutt is that edge that I think very few are willing to do, but the ones that are willing to do it can get these very, very outsized returns.
This episode has some great case studies to really hammer home how important scuttlebutt is.
You'll learn how legends like Warren Buffett and Li Lu have used scuttlebutt to find incredible investments.
I'll also review some other case studies from others that have successfully sleuthed a business and reaped some enormous benefits.
And then to finish the episode off and stay with the ethos of improved learning, I wanted to weave in how you can use your circle of competence to better understand industries or business templates to either double down on or to avoid like the plague.
Self reflection and deep thinking are key to Warren Buffett's success, and I thought I'd share my framework as well for learning from my problem.
If you're the type of person who enjoys introspective thinking, I think you're going to resonate with my framework.
Now, without further ado, let's get right into this week's episode.