In a world where most investors think in quarters, The 100 Year Thinkers offers insights from investors who think in decades. Hosted by Matt Ziegler and Bogumil Baranowski and featuring Robert Hagstrom, and Chris Mayer, this monthly roundtable will tackle many of the issues all of us face as investo
Chris Davis and Robert Hagstrom explore the tension between holding great businesses and keeping a winning stock from becoming too much portfolio risk. Why do two investors who believe in letting winners compound also use 10% position limits? On this episode of 100 Year Thinkers, Chris Davis of Davis Funds and Robert Hagstrom of EquityCompass join Matt Zeigler and Bogumil Baranowski to discuss position sizing, selling mistakes, index concentration and the cost of growth. From Chris Davis’s experience selling Costco to the debate over who will capture AI’s economic benefits, they examine what…
Chris Mayer and Robert Hagstrom join Matt Zeigler on 100 Year Thinkers to explore how investors can identify great businesses, hold them through volatility, and let compounding work over decades. Drawing on Mayer's book The Investor's Odyssey, they discuss Warren Buffett's investing philosophy, durable competitive advantages, investor psychology, and the portfolio management decisions that help long-term investors stay the course. Buy the Investor's Odyssey https://amzn.to/4gCVMMp Chris Mayer on Twitter https://x.com/chriswmayer Robert Hagstrom on Twitter https://x.com/RobertGHagstrom Topics…
Robert Hagstrom joins Matt Zeigler and Bogumil Baranowski to revisit the 25th anniversary edition of The Warren Buffett Portfolio and explain why volatility is not the same as investment risk. They discuss concentrated portfolios, active share, business valuation, behavioral finance, complex adaptive systems, and Warren Buffett's warning that the market's casino can overwhelm its cathedral. The Warren Buffett Portfolio - 25th Anniversary Edition https://amzn.to/3TVXoru Robert Hagstrom on X https://x.com/RobertGHagstrom Equity Compass https://www.equitycompass.com/ Topics covered Why…
On this episode of the 100 Year Thinkers, Chris Mayer and Matt Zeigler discuss long-term investing, 100-baggers, AI stocks, SpaceX valuation, founder-led companies, and why the best investments often come with brutal drawdowns. We also cover his new book The Investor's Odyssey, the danger of letting labels like AI do too much work, how to think about TAM and capital allocation, and why patience may be the biggest edge for investors trying to own great businesses for decades. The Investor's Odyssey: Resisting the Sirens and Playing the Long Game https://amzn.to/44BMXeJ Main topics covered Why…
In this episode of The 100-Year Thinkers, Robert Hagstrom explains why modern portfolio theory pulled investors away from business analysis and toward portfolio math. In this episode, Hagstrom, Matt Zeigler and Bogumil Baranowski discuss Markowitz, beta, efficient markets, Warren Buffett, Charlie Munger, business-driven investing, owner earnings, benchmarks, and why thinking like a business owner changes how investors understand risk. The Warren Buffett Portfolio, 25th Anniversary Editionhttps://amzn.to/4uz8sZ3 Topics covered: Why Hagstrom thinks modern portfolio theory changed investing’s…
This episode of 100 Year Thinkers brings together Chris Mayer and Ian Cassel for a deep discussion on long-term stock picking, microcap investing, business quality, AI disruption, management teams, and the behavioral skills that separate great investors from great analysts. They explore why the edge in investing may increasingly come from judgment, presence, relationships, patience, and the ability to hold the right businesses through uncertainty. Resources Discussed The Last Moat https://microcapclub.com/the-last-moat/ Stock Picker by Ian Cassel https://microcapclub.com/stock-picker/ The…
In this episode of the 100 Year Thinkers, Robert Hagstrom and Chris Mayer explore how investors should think about base rates, extreme outcomes, and the realities of long-term wealth creation in markets. Applying the work of Michael Mauboussin, the conversation challenges conventional ideas like mean reversion and highlights why a small number of companies drive most stock market returns—and what that means for portfolio construction.tives distort investing decisions Topics covered • Why markets are driven by extreme outcomes and power laws, not averages • The Best & Bessembinder research…
In this episode of the 100 Year Thinkers, Matt Zeigler and Bogumil Baranowski continue their conversation with Robert Hagstrom and Chris Mayer, diving deeper into general semantics and what it means for investors navigating AI enthusiasm, market volatility, benchmark obsession, and the gamification of markets. From Warren Buffett’s cathedral versus casino metaphor to the risks hiding in so-called “safe” consumer staples stocks, this discussion explores how language, expectations, and mistaken certainty shape investment decisions. If you want to think more clearly about markets, technology,…
When Robert Hagstrom and Chris Mayer sit down together, the conversation goes far beyond stock picking. Join them, along with Matt Zeigler and Bogumil Baranowski to explore how investors think, how language shapes decision making, and why many of the debates dominating today’s markets miss the deeper pointDrawing on ideas from general semantics, mental models, and long-term capital compounding, the discussion reframes market concentration, AI, valuation, and risk through a more durable lens built for long-horizon investors. Topics covered in this episode Why high valuation multiples are not…
In this episode, Robert Hagstrom , Chris Mayer , Bogumil Baranowski and Matt Zeigler return for a wide-ranging conversation on how great investors really think. Rather than focusing on formulas, factor labels, or short-term market predictions, the discussion explores investing as a discipline grounded in philosophy, language, psychology, and long-term business fundamentals. Drawing on ideas from Warren Buffett, Charlie Munger, Bill Miller, and thinkers from outside finance, this conversation challenges many of Wall Street’s most common assumptions and offers a deeper framework for making…
This episode of The 100 Year Thinkers brings together Robert Hagstrom, Chris Mayer, and Bogumil Baranowski for a deep conversation on what makes a great business, why long-term investing is so hard, and how the world’s best investors think about mistakes, management, conviction, and the durability of competitive advantages. We explore perfect businesses, the pain of missed opportunities, the behavioral traps that derail long-term compounding, and how to navigate rapid technological change while keeping your investment process grounded. Topics covered: • What defines a perfect business and…
In a world that moves tick by tick and quarter by quarter, The 100-Year Thinkers zooms out to explore what it really means to invest with patience, discipline, and perspective. In this premiere episode, join Matt Zeigler, Bogumil Baranowski, Chris Mayer, and Robert Hagstrom as they discuss market concentration, the dominance of mega-cap stocks, and how investors can think in decades—not days. Together, they explore the evolution of active management, the role of the S&P 500, the challenge of private equity, and how to build portfolios that last. • Concentration and the rise of mega-cap…
About The 100 Year Thinkers: Long-Term Compounding in a Short-Term World
In a world where most investors think in quarters, The 100 Year Thinkers offers insights from investors who think in decades. Hosted by Matt Ziegler and Bogumil Baranowski and featuring Robert Hagstrom, and Chris Mayer, this monthly roundtable will tackle many of the issues all of us face as investo
The 100 Year Thinkers: Long-Term Compounding in a Short-Term World is a English business podcast from Excess Returns. Melo plays each episode straight from the publisher's own feed — no ads added, no account needed — and remembers where you stopped, in this browser only.
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