Welcome to The Business Brew
This podcast’s mission is to dig deep into the thought patterns and analysis of investors and business people. The podcast stemmed from Bill Brewster consistently feeling like he was listening to prepackaged material while listening to podcasts. Instead, he wanted long
Evan Vanderveer of Vanshap Capital joins The Brew to discuss investing in businesses built around a deep commitment to their customers. His approach combines on-the-ground research, a focus on founder-led cultures, and the willingness to hold a concentrated portfolio through uncertainty. We explore how that philosophy translates into investment decisions—and how to distinguish an exceptional business from an exceptional investment. The central tension is how to balance conviction in management and long-term growth with discipline around valuation, risk, and evidence that challenges the…
Michael Kelley is a entrepreneur and community leader. You can find him running his Chick Fil A locations, at the school he started, coaching football and basketball, and making an impact. This one isnt the typical stock conversation, but it was fun to record. Sponsorship Information Thank you to Trata for sponsoring the show. If you're listening to this podcast, you'll like Trata. Trata is buyside to buyside conversations on individual stocks. Trata makes finding a bull or bear on any stock as easy as clicking two buttons. Over 125 funds globally contribute that…
Steve Hou , Head of Research at Silicon Data , stops by to discuss solving problems associated with AI capex financing. Silicon Data provides users with a number of indices and data sets tracking everything from token costs to chip residual values. Much of the "debate" around financing capex is just narratives and talking past one another. Steve seeks to actually use facts to discuss what is going on; which is refreshing. Enjoy the discussion! Sponsorship Information Thank you to Trata for sponsoring the show. If you're listening to this podcast, you'll like Trata. Trata…
Bob Robotti stops by for a follow up episode. David Kessler, Portfolio Manager and Securities Analyst at Robotti & Company , is in the room with Bob to provide some additional analytical firepower. This conversation came about because Bill was researching the lumber supply chain, had a bit of recorder's block, and though "You know who I want to talk to? Bob Robotti." Bob said yes to the invite and this is the result. If this show speaks to you be sure to reach out to the team at Robotti & Company Advisors . Sponsorship Information Thank you to Trata for sponsoring the…
Peter Mantas returns to the show. This is a follow up episode to the episode discussing uniQure. It's timely given the amount of media attention Marty Makary is getting; in part because of uniQure. Describing his trip on his Substack : "I flew to Washington D.C. on Friday (and drove to Baltimore on Saturday) with a thesis. I left with something harder to quantify, not a different thesis exactly, but a materially deeper understanding of the terrain on which this thesis will ultimately be resolved, and a set of experiences that I think are worth documenting carefully, both for subscribers who…
Charles Frischer and Asheef Lalani stop by The Business Brew to update the listeners on Fairfax Financial. They originally came on the program on 7/20/2023 when the stock was quite unloved. Bill asked them to return to the program after almost 3 years of ownership and fresh off the annual meeting. We hope the episode provides a good update to the first. Asheef Lalani as an independent director to the board of Sailfish Royalty Corp. Mr. Lalani graduated from the University of Waterloo with a Bachelor of Mathematics and Masters of Accounting, earned the CA/CPA designation in 2002 and is a CFA…
Evan Tindell, CIO at Bireme Capital , returns to The Brew for a laid back conversation. The impetus for the conversation is Evan's Q4 letter . A year ago Evan came on the show to educate people about some mistakes he made in 2024. In that show he made the case for foreign stocks. The portfolio he discussed at that time did quite well (our words; not his) in 2025. Find out what he's thinking about now. And hopefully have a few laughs along the way. Sponsorship Information Thank you to Trata for sponsoring the show. If you're listening to this podcast, you'll like Trata. Trata…
Sonu Chawla of Times Square Capital Management shares her investment philosophy, focusing on growth with a conscience, valuation discipline, and management assessment. Stocks discussed include Argenx, Carpenter Technologies, Cheniere, and JFrog. The conversation provides insights into how Sonu navigates market dislocations, valuation challenges, and sector opportunities. Sonu's bio: Sonu is a Director, Portfolio Manager/Analyst, and Partner in TimesSquare’s growth equity group. She is responsible for research coverage of the Software, Technology Services, and Internet & Communications…
@crashkolnikov on X, and author of Notes From The Beauty Contest Substack , joins the show. Notes From The Beauty Contest is a long form Substack that focuses on stocks that are somewhat under covered elsewhere. It got its start with a deep dive into Regeneron, which is a primary focal point of this discussion. We hope you enjoy. Sponsorship Information Thank you to Trata for sponsoring the show. If you're listening to this podcast, you'll like Trata. Trata is buyside to buyside conversations on individual stocks. Trata makes finding a bull or bear on any stock as easy as…
uniQure is a business that develops gene therapies. uniQure's AMT-130 is currently in the headlines. This podcast episode attempts to present the Huntington's Disease community's arguments for why the FDA should work collaboratively to design a palatable drug trial. Last week the FDA told uniQure that AMT-130 would be subject to a double blind, Phase 3, randomized controlled study. While the scientific basis for that request is sound in most cases, the Huntington's Disease community argues that path is overly burdensome; perhaps impossible. This episode cites: Dr. Sung -…
Jacob Shapiro is a geopolitical analyst who provides strategic guidance to families, investors, and corporations. He is a global thought leader in the area of geopolitics and its impact on everything from global markets to supply chains. You can find his Substack at https://substack.com/@jashap , his personal podcast at here (Apple) or here (Spotify), or you can follow Geopolitical Cousins here (Apple) or here (Spotify). Hope y'all enjoy! Sponsorship Information Thank you to Trata for sponsoring the show. If you're listening to this podcast, you'll like Trata. Trata is buyside to…
Jeff and Jason, from the Investing Unscripted podcast, stop by the show for some general investment banter. Decent laughs, hopefully some smart thoughts, and a fun convo. Hope y'all enjoy! Sponsorship Information Thank you to Trata for sponsoring the show. If you're listening to this podcast, you'll like Trata. Trata is buyside to buyside conversations on individual stocks. Trata makes finding a bull or bear on any stock as easy as clicking two buttons. Over 125 funds globally contribute that collectively cover 2000+ tickers. Trata raised over $3mm coming out of Y Combinator. Before…
Adam Wilk, Founder and CIO of Greystone Capital Management discusses all things investing. Prior to launching Greystone, Adam worked in scouting and analytics roles with the San Antonio Spurs and Houston Rockets, followed by commercial credit underwriting at a major bank. Those roles emphasized disciplined decision-making under uncertainty and long time horizons, which are central to how Greystone evaluates businesses, assesses risk, and allocates capital. Sponsorship Information Thank you to Trata for sponsoring the show. If you're listening to this podcast, you'll like Trata. Trata…
Some Sunday thoughts and an offer from Bill. Sponsorship Information Thank you to Trata for sponsoring the show. If you're listening to this podcast, you'll like Trata. Trata is buyside to buyside conversations on individual stocks. Trata makes finding a bull or bear on any stock as easy as clicking two buttons. Over 125 funds globally contribute that collectively cover 2000+ tickers. Trata raised over $3mm coming out of Y Combinator. Before you would track 13Fs, now you can understand what funds are actually thinking. You can join as a lurker or you can join as a contributor and Trata…
Will Thomson returns! In this episode he has the audacity to suggest oil might be a smarter place to fish than gold. He also discusses copper as a theme. Bill likes Will. You should listen to Will. Will is a solid dude. Sponsorship Information Thank you to Trata for sponsoring the show. If you're listening to this podcast, you'll like Trata. Trata is buyside to buyside conversations on individual stocks. Trata makes finding a bull or bear on any stock as easy as clicking two buttons. Over 125 funds globally contribute that collectively cover 2000+ tickers. Trata raised over $3mm coming…
Just some brief thoughts to communicate what's going on. While you are waiting for a new episode try Trata ! trytrata.com/brew And remember to use Fiscal.ai for all your data needs. Fiscal.ai/brew
Abdul Al Assad, founder of Basic Capital , joins the show to discuss why people deserve more leverage in their retirement portfolios. A smart man once said that "men go broke over ladies, liquor, and leverage." Abdul articulates a different version of leverage; specifically medium duration (10 year) non callable, non recourse leverage. In the episode Abdul acknowledges the potential for large market to market drawdowns. That said, he challenges the listeners to think through the long-term implications of what he is saying. We hope you enjoy the discussion. Sponsorship Information Thank you…
In this conversation, Jim Hayes , founder of Lucerna GlobalCapital, shares why he thinks there is an opportunity in emerging markets. Prior to founding Lucerna, Jim spent 13 years at Fidelity. Jim's last role at Fidelity was covering a number of sectors in the $35Bn Fidelity Series Emerging Market Fund. This discussion highlights the potential opportunities in Latin America and Southeast Asia. In other news, thank you for your support. 763,000 minutes were spent listening to this show in 2025. Let's go! Sponsorship Information New Sponsor Alert! Thank you to Trata for sponsoring the show. If…
Bill pops in for a short rant and an update on some of his thoughts. As always, thank you for listening. Have a wonderful Thanksgiving! Tell the people you love that you love them. "People never get the roses while they can still smell them." - West, Kanye Sponsorship Information Thank you to Fiscal.ai for sponsoring the show. DISCOUNT INFO: If you use the affiliate link fiscal.ai/brew , you will automatically get 2 weeks of Fiscal Pro for Free and if you find that you want to upgrade, my link will get you 15% off any paid plans. About Fiscal.ai Fiscal.ai…
Mark Cooper, founder and CIO of MAC Alpha Capital Management, stops by The Business Brew to discuss the potential opportunity in international markets. Mark has 20 years of experience in equity investing and almost 9 years in commodity trading, working at top-tier hedge funds and mutual funds with some legendary value investors. Mark’s experience prior to founding MAC Alpha Capital Management: Co-Portfolio Manager, First Eagle Investment Management, 2014 to 2019 | International Small Cap Value strategy. Portfolio Manager and Analyst, PIMCO, 2010 to 2014 | Global generalist managing a…
Matthew Quigley, Founder of Draft Line Capital , stops by the show to discuss lending to athletes. Matthew got involved in sports via FSU's booster program. He eventually joined FSU to work on recruiting and coaching students on how maximize NIL earnings. Matthew now runs Draft Line Capital. Draft Line lends to athletes to help them: with working capital, purchase loss of value insurance, and more. Notably, Draft Line will not lend for frivolous expenses. Learn more listening! Contact Matthew by going to DraftLineCap.com . Bill references an Amazon show: The Money Game. That is worth a watch…
Peter Mantas of Logos LP, https://www.logoslp.com/ , stops by The Business Brew for an update. The previous episode discussed the potential of the life sciences industry. Since then uniQure released potentially groundbreaking results. Hence, Peter came back for an update. Shoutout to the ClearPoint group chat! For more information on how Peter invests, please see https://podcasts.apple.com/us/podcast/peter-mantas-logos-lp-portfolio-construction-biotechs/id1492171651?i=1000537962817 on Apple or https://open.spotify.com/episode/6r003LhN4REFSxYxogPWXH?si=7ApTcSdmRzepl5oW44friw on Spotify.…
Maja Vujinovic stops by The Business Brew for a crypto discussion. Maja is CEO of FGNX, a D.A.T. The meat of this conversation is about Maja's experience in payments and how that led her to crypto. Maja then discusses Bitcoin and Ethereum's role in the modern financial system. Sponsorship Information Thank you to Fiscal.ai for sponsoring the show. DISCOUNT INFO: If you use the affiliate link fiscal.ai/brew , you will automatically get 2 weeks of Fiscal Pro for Free and if you find that you want to upgrade, my link will get you 15% off any paid plans. About Fiscal.ai …
This week, Dan Rasmussen - founder of Verdad Advisors and author of The Humble Investor - drops by to challenge conventional wisdom, discuss humility, and stir up some lively debate. In this conversation, Dan discusses his investment philosophy; focusing on the risks associated with private equity, the unpredictability of future growth, and the importance of patience in investing. Dan also touches on his approach to investigating biotech investing. We hope you enjoy the show. Sponsorship Information Thank you to Fiscal.ai for sponsoring the show. DISCOUNT INFO: If you use the affiliate…
David Gardner returns to discuss his new book: Rule Breaker Investing: How to Pick the Best Stocks of the Future and Build Lasting Wealth . After decades of research, the book is a culmination of David's work in investing. This conversation should whet your appetite and help understand David's philosophy. Takeaways Investing requires a long-term mindset and patience. Market volatility is a natural part of investing. Concentration in a few strong positions can be beneficial. Initial position sizing should be conservative, typically around 5%. Avoid adding to losing positions; focus on…
Braden Dennis stops by to discuss building Fiscal.ai . Long time show listeners may remember Stratosphere.io. That was "Era 1" of the company. Today, Braden is working on "Era 3" of the company; Fiscal.ai . Braden talks about building a product for himself, to acquiring customers, to early LLM adoption, and finally to competing with FactSet. Fiscal.ai recently raised $10mm in a Series A round led by Portage and Social Leverage. We hope you enjoy the conversation. It's a cool story. ALSO, if you use the affiliate link fiscal.ai/brew , you will automatically get 2 weeks of Fiscal Pro for Free…
Spencer Cibelli, Investment Associate at Robotti & Company , stops by to discuss Haypp Group; the world’s largest online retailer of nicotine pouches and traditional snus products. The nicotine pouch category is, as Mugatu would say, "So hot right now." Spencer details Haypp's unique characteristics, benefit to customers, and value offered to suppliers. This business has an interesting niche. And may just be an unlikely "Win-Win-Win" example. Enjoy the episode! Sponsor Notes This episode is brought to you by Fiscal.ai Fiscal.ai is the complete modern data terminal for global equities. The…
Jeffrey Collins, Managing Partner of Cloverlay , stops by to discuss how Cloverlay builds private portfolios to offer clients uncorrelated returns. In this conversation, Jeff explains how Cloverlay provides access to private assets that are often overlooked by traditional investors, emphasizing the importance of correlation in portfolio management. The discussion covers various investment opportunities, including sports rights, telecom spectrum auctions, dark fiber, and intellectual property. Jeff shares insights on navigating regulatory changes and lessons learned from past investments,…
Ryan Dobratz stops by to discuss various aspects of the real estate market, primarily focusing on Freddie Mac and Fannie Mae. The discussion touches on the political implications surrounding Freddie and Fannie, as well as trends in the residential housing market and manufactured housing policies. Weaved into the conversation is interest rates, CPI, and the impact of AI on industrial real estate. Takeaways The real estate market is currently experiencing a divergence in performance across different sectors. Interest rates and CPI are critical factors influencing the real estate market. AI is…
Stuart Loren, Managing Director at Fort Sheridan Advisors, stops by the show to discuss investing in The Age of Social Disruption (that hyperlinks to his presentation of the idea). Stuart explores how economic, social, and political disaffection is reshaping investment opportunities and societal dynamics. He highlights the decline in geographic mobility, the housing crisis, and the rise of populism as key factors influencing current political landscapes. The discussion also touches on the impact of AI on economic growth and the challenges faced by local and federal governments in addressing…
About The Business Brew
Welcome to The Business Brew
This podcast’s mission is to dig deep into the thought patterns and analysis of investors and business people. The podcast stemmed from Bill Brewster consistently feeling like he was listening to prepackaged material while listening to podcasts. Instead, he wanted long
The Business Brew is a English business podcast from Bill Brewster. 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.
The Melo app keeps playing with the screen off, works in the car and on your watch, wakes you to your station, and browses the whole catalogue offline. Free, no ads, no account.
