Comments
Transcript
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PBThe thing you have to remember - professionals would likely pay ~$1000 for an hour of Steve Clapham’s time. You can get an hour + an entire year of Real Vision for even less...
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DSHope there are ongoing discussions about Mr. Clapham being a profession a Real Vision University.
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IHStephen could have his own dedicated corner of Real Vision. Always enjoyable and always learn a lot !
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DDStephen is now probably my second favourite expert, behind only Mike Green. Very insightful and entertaining, can't wait to see him back again.
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JSGlad to see Jack starting to take more of these one on one interviews with guest speakers. He did a fantastic job! Additionally, thanks for sharing Steve's new book. Will grab a copy off Amazon.
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RKBrilliant, always one of my favorites guests. Bought his book, a bargain. Thx Jack.
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PBAnyone have an idea which Chinese stock Steve could be most worried about?
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SSLoved this. Thanks to both of you.
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SWWhat an interesting interview, Jack! I'd like to see more of SC on RV.
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PBGreat interview. Top effort by Jack, but would be good to see further interviews between Steve and fund managers (e.g. Kyle Bass in the last one) who can really drill down on a few specific issues
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DSExcelleny interview. In the US and many other countries a large percentage of the citizens are true believers - Erick Hoffer. This has gone to the level of cults of personalities. Both the far left and far right fall into this category. Mr. Musk, famous chefs, famous designers, sport heros fall into cult figures as well. The true believer and the cult of personalities are put into warp speed with fake news and conspiracy theories. These citizens are driven by a vision. They cannot let facts or ration thought destroy the thrill of the vision. I am a firm believer in emotional drives but the rational mind needs to provide guardrails. DLS
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GFGreat interview Jack!
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NLmore of this please.
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AGMost tech companies stock compensation is in RSUs (restricted stock units) not options. How this works is they'll award say $10k at today's share price (whatever the # of stocks that would be) that vests over 4 years. Microsoft and Google do even vesting so 25% per year. Amazon does exploding vesting: 5% year 1 and 2 and then the rest at year 3 and 4 (because they have retention problems.) Source: job offers/employment.
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OAReally informative and you guys kept it fun. Great stuff.
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CBAbsolutely brilliant interview guys! Awesome job Jack!
Chapters
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Stephen's Background as a Forensic Accountant and Portfolio Manager
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Balance Sheet Hijinks
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Stock-Based Compensation
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GAAP Earnings vs. Adjusted Earnings: The Yawning Chasm
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Thoughts on Berkshire Hathaway, Cruiseliners, and Restaurants
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IPO and SPAC Mania: Nikola and Airbnb
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Tesla, DoorDash, and Monopolies
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Perception vs. Reality in the Investment Universe
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The Macro Picture