143 episodes

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 form, in depth, discussions about finance, capital allocation, and the psychology of investing/business.

Bill is a private investor. He cohosts the podcast Value: After Hours with Tobias Carlisle and Jake Taylor. Tobias, Jake and Bill met at a Berkshire Hathaway meeting and formed a lasting friendship. And, as it turns out, people really like the podcast.

While Bill tries to replicate Warren Buffett and Charlie Munger’s thought processes, he is heavily influenced by Bill Miller III, Stan Druckenmiller, and others. This podcast is his attempt to dig deeper into other investing/business philosophies and share the knowledge with the world.

We are interested in interviewing portfolio managers, Wall Street sell side analysts, buy side analysts, private investors, owner operators, and anyone that is willing to go in depth about running a company/division. So, if you are interested in participating please email us with the subject “Guest Appearance.”

Disclaimer: Bill manages a portfolio under the name of Sullimar Capital Group. This podcast is for informational and educational purposes only. Nothing in this podcast or on SullimarCapital.Group is investment advice. All information in this is opinion based, potentially biased, and requires verification.

Bill and his guests make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness or reasonableness of the information contained in these podcasts. Any assumptions, opinions and estimates expressed constitute the participant’s judgment as of the date thereof and are subject to change without notice. Any projections contained in the information are based on a number of assumptions as to market conditions and there can be no guarantee that any projected outcomes will be achieved. This podcast does not accept any liability for any direct, consequential or other loss arising from reliance on the contents of this presentation.

This podcast series DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICIATION OF AN OFFER TO BUY ANY SECURITIES MENTIONED OR DISCUSSED. Seek the your financial, tax, legal, accounting, or other advisor’s advice before making any investment decisions. We are not your fiduciary or advisor.

The Business Brew Bill Brewster

    • Business
    • 4.8 • 238 Ratings

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 form, in depth, discussions about finance, capital allocation, and the psychology of investing/business.

Bill is a private investor. He cohosts the podcast Value: After Hours with Tobias Carlisle and Jake Taylor. Tobias, Jake and Bill met at a Berkshire Hathaway meeting and formed a lasting friendship. And, as it turns out, people really like the podcast.

While Bill tries to replicate Warren Buffett and Charlie Munger’s thought processes, he is heavily influenced by Bill Miller III, Stan Druckenmiller, and others. This podcast is his attempt to dig deeper into other investing/business philosophies and share the knowledge with the world.

We are interested in interviewing portfolio managers, Wall Street sell side analysts, buy side analysts, private investors, owner operators, and anyone that is willing to go in depth about running a company/division. So, if you are interested in participating please email us with the subject “Guest Appearance.”

Disclaimer: Bill manages a portfolio under the name of Sullimar Capital Group. This podcast is for informational and educational purposes only. Nothing in this podcast or on SullimarCapital.Group is investment advice. All information in this is opinion based, potentially biased, and requires verification.

Bill and his guests make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness or reasonableness of the information contained in these podcasts. Any assumptions, opinions and estimates expressed constitute the participant’s judgment as of the date thereof and are subject to change without notice. Any projections contained in the information are based on a number of assumptions as to market conditions and there can be no guarantee that any projected outcomes will be achieved. This podcast does not accept any liability for any direct, consequential or other loss arising from reliance on the contents of this presentation.

This podcast series DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICIATION OF AN OFFER TO BUY ANY SECURITIES MENTIONED OR DISCUSSED. Seek the your financial, tax, legal, accounting, or other advisor’s advice before making any investment decisions. We are not your fiduciary or advisor.

    Hedda Nadler - Repping The Legends

    Hedda Nadler - Repping The Legends

    Hedda Nadler, co-founder of Mount & Nadler, stops by The Business Brew to discuss her career as one of the leading marketing practitioners serving professional money managers.
    Mount & Nadler represents a broad range of clientele in the financial and investment spheres, with an emphasis on investment companies and money managers.  This conversation gives the perspective of one of the people behind the scenes of finance.



    Under Hedda's direction, Mount & Nadler is known among mutual funds, money managers and the media as a firm that provides excellent and responsive services whether the news is positive or negative. During her 40+ year career, Hedda also has ably handled PR for shareholder activists and lift-outs, as well as crisis counseling. Throughout, she has advised clients sensibly and effectively when dealing with the media.




    Sponsor Info:

    ⁠⁠⁠⁠⁠⁠⁠⁠⁠Daloopa⁠⁠⁠⁠⁠⁠⁠ ⁠⁠is founded by a former hedge fund analyst to bring simplicity into the investment process. ⁠⁠ ⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠⁠⁠offers an AI driven single source for all company reported data, and allows for investment teams to make the most informed decisions in the shortest amount of time. 

    ⁠⁠⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠⁠⁠scales the velocity of an investment team’s idea gen. Analysts spend less time locating and manually inputting meaningful disclosures into Excel and more time synthesizing in the minutes after the print. ⁠⁠⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠⁠⁠captures data from all company reported sources, including from footnotes, MD&As, and investor presentations.

    ⁠⁠⁠⁠Daloopa's⁠⁠⁠⁠ data sheets include GAAP to non-GAAP adjustments, guidance, and all company specific KPIs. Each datapoint is auditable to the source for easy verification and accuracy. ⁠⁠⁠⁠⁠⁠⁠⁠⁠Daloopa’s ⁠⁠⁠⁠⁠⁠⁠⁠⁠Excel plugin can also update your existing models for the latest quarter in just a single click.

    Bulge-bracket banks and major multi-managers are trusting ⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠for use in initiating coverage, building and maintaining industry dashboards, and keeping their models up to date.



    Visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Daloopa.com/BusinessBrew⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to create a free account and learn more about how ⁠⁠⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠⁠⁠can help increase your team’s speed to differentiated insight.

    • 57 min
    Quick Drop: Wes Gray - Talking about BOXX, creating an ETF, and more

    Quick Drop: Wes Gray - Talking about BOXX, creating an ETF, and more

    Wes Gray, the Alpha Architect himself, stops by the Business Brew to discuss how he (a) created the ETF $BOXX, (b) helps people start their own ETFs, (c) why value and momentum work as factors, and much more.



    This episode is a quick release after Corey Hoffstein's. It may or may not be the only episode we release for the next 13 days or so.



    The release cadence is influenced by the amount of press BOXX has been getting. We hope to add to your understanding. As always, do your due diligence!


    Sponsor Info:

    ⁠⁠⁠⁠⁠⁠⁠⁠Daloopa⁠⁠⁠⁠⁠⁠ ⁠⁠is founded by a former hedge fund analyst to bring simplicity into the investment process. ⁠⁠ ⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠⁠offers an AI driven single source for all company reported data, and allows for investment teams to make the most informed decisions in the shortest amount of time. 

    ⁠⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠⁠scales the velocity of an investment team’s idea gen. Analysts spend less time locating and manually inputting meaningful disclosures into Excel and more time synthesizing in the minutes after the print. ⁠⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠⁠captures data from all company reported sources, including from footnotes, MD&As, and investor presentations.

    ⁠⁠⁠Daloopa's⁠⁠⁠ data sheets include GAAP to non-GAAP adjustments, guidance, and all company specific KPIs. Each datapoint is auditable to the source for easy verification and accuracy. ⁠⁠⁠⁠⁠⁠⁠⁠Daloopa’s ⁠⁠⁠⁠⁠⁠⁠⁠Excel plugin can also update your existing models for the latest quarter in just a single click.

    Bulge-bracket banks and major multi-managers are trusting ⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠for use in initiating coverage, building and maintaining industry dashboards, and keeping their models up to date.



    Visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠Daloopa.com/BusinessBrew⁠⁠⁠⁠⁠⁠⁠⁠⁠ to create a free account and learn more about how ⁠⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠⁠can help increase your team’s speed to differentiated insight.

    • 1 hr 10 min
    Corey Hoffstein - Get Stacked!

    Corey Hoffstein - Get Stacked!

    Corey Hoffstein, Founder and CEO of Returned Stacked Portfolio Solutions, stops by to discuss how he uses ETFs to leverage his investing assets. Corey and Bill discuss a concept that is not novel to institutional investors, but may benefit individuals today because of ETF innovations. Bill wanted to discuss how Corey came up with his idea, how he executes his idea, and what risks his strategy might have.



    You can find more information at Return Stacked Portfolio Solutions.


    Sponsor Info:

    ⁠⁠⁠⁠⁠⁠⁠Daloopa⁠⁠⁠⁠⁠ ⁠⁠is founded by a former hedge fund analyst to bring simplicity into the investment process. ⁠⁠ ⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠offers an AI driven single source for all company reported data, and allows for investment teams to make the most informed decisions in the shortest amount of time. 

    ⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠scales the velocity of an investment team’s idea gen. Analysts spend less time locating and manually inputting meaningful disclosures into Excel and more time synthesizing in the minutes after the print. ⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠captures data from all company reported sources, including from footnotes, MD&As, and investor presentations.

    ⁠⁠Daloopa's⁠⁠ data sheets include GAAP to non-GAAP adjustments, guidance, and all company specific KPIs. Each datapoint is auditable to the source for easy verification and accuracy. ⁠⁠⁠⁠⁠⁠⁠Daloopa’s ⁠⁠⁠⁠⁠⁠⁠Excel plugin can also update your existing models for the latest quarter in just a single click.

    Bulge-bracket banks and major multi-managers are trusting ⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠for use in initiating coverage, building and maintaining industry dashboards, and keeping their models up to date.



    Visit ⁠⁠⁠⁠⁠⁠⁠⁠Daloopa.com/BusinessBrew⁠⁠⁠⁠⁠⁠⁠⁠ to create a free account and learn more about how ⁠⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠⁠can help increase your team’s speed to differentiated insight.

    • 1 hr 29 min
    Will Thomson On Lithium, Copper, And More

    Will Thomson On Lithium, Copper, And More

    Will Thomson of Massif Capital returns for his annual appearance. In this episode he teaches about the lithium and copper markets. The end of the episode is more general and worth hanging around for.



    You can find Massif Cap's letters here. The Q4 letter discusses lithium on Page 7. Whole letter is worth a read.



    Sponsor Info:

    ⁠⁠⁠⁠⁠⁠Daloopa⁠⁠⁠⁠ ⁠⁠is founded by a former hedge fund analyst to bring simplicity into the investment process. ⁠⁠ ⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠offers an AI driven single source for all company reported data, and allows for investment teams to make the most informed decisions in the shortest amount of time. 

    ⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠scales the velocity of an investment team’s idea gen. Analysts spend less time locating and manually inputting meaningful disclosures into Excel and more time synthesizing in the minutes after the print. ⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠captures data from all company reported sources, including from footnotes, MD&As, and investor presentations.

    ⁠Daloopa's⁠ data sheets include GAAP to non-GAAP adjustments, guidance, and all company specific KPIs. Each datapoint is auditable to the source for easy verification and accuracy. ⁠⁠⁠⁠⁠⁠Daloopa’s ⁠⁠⁠⁠⁠⁠Excel plugin can also update your existing models for the latest quarter in just a single click.

    Bulge-bracket banks and major multi-managers are trusting ⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠for use in initiating coverage, building and maintaining industry dashboards, and keeping their models up to date.



    Visit ⁠⁠⁠⁠⁠⁠⁠Daloopa.com/BusinessBrew⁠⁠⁠⁠⁠⁠⁠ to create a free account and learn more about how ⁠⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠⁠can help increase your team’s speed to differentiated insight.

    • 1 hr 21 min
    Devin Martin - Finding Your Drive

    Devin Martin - Finding Your Drive

    Devin Martin, recommended by the one and only Tom Morgan, stops by the show to discuss how he helps high performing individuals hone in on what they truly want out of life. Devin primarily works with successful people who want to achieve something more/different.



    In this episode we discuss his methodology. There is some discussion of ayahuasca and psychedelics so be prepared (shout out to one of the best songs in The Lion King).



    As always, we hope you enjoy the show! Big shoutout to Daloopa for sponsoring the show.



    Sponsor Info:

    ⁠⁠⁠⁠⁠Daloopa⁠⁠⁠ ⁠⁠is founded by a former hedge fund analyst to bring simplicity into the investment process. ⁠⁠ ⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠offers an AI driven single source for all company reported data, and allows for investment teams to make the most informed decisions in the shortest amount of time. 

    ⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠scales the velocity of an investment team’s idea gen. Analysts spend less time locating and manually inputting meaningful disclosures into Excel and more time synthesizing in the minutes after the print. ⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠captures data from all company reported sources, including from footnotes, MD&As, and investor presentations.

    Daloopa's data sheets include GAAP to non-GAAP adjustments, guidance, and all company specific KPIs. Each datapoint is auditable to the source for easy verification and accuracy. ⁠⁠⁠⁠⁠Daloopa’s ⁠⁠⁠⁠⁠Excel plugin can also update your existing models for the latest quarter in just a single click.

    Bulge-bracket banks and major multi-managers are trusting ⁠⁠⁠Daloopa ⁠⁠⁠for use in initiating coverage, building and maintaining industry dashboards, and keeping their models up to date.

    Visit ⁠⁠⁠⁠⁠⁠Daloopa.com/BusinessBrew⁠⁠⁠⁠⁠⁠ to create a free account and learn more about how ⁠⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠⁠can help increase your team’s speed to differentiated insight.

    • 1 hr 43 min
    The Pros and Cons of Being Public with Andrew Walker

    The Pros and Cons of Being Public with Andrew Walker

    Andrew Walker, friend of the pod, returns to discuss some of his reflections following the Spirit merger ruling going against him. Bill pinged Andrew following the ruling and asked whether he would want to come back on the podcast to discuss the pros and cons of publicly liking a stock idea that does not work out. For those that listened to the episode a few weeks ago, or remember Bill's Qurate days, you may glean a little more insight into why the Spirit merger caused Bill to think so much.



    The episode then goes on to discuss Calumet Specialty Products Partners. You can go back to last week's episode for a SAF primer. And you can also subscribe to https://yetanothervaluepodcast.substack.com/ to find Andrew's research on that company.



    As always, we hope you enjoy the show.


    Sponsor Info:

    ⁠⁠⁠⁠Daloopa⁠⁠ ⁠⁠is founded by a former hedge fund analyst to bring simplicity into the investment process. ⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠offers an AI driven single source for all company reported data, and allows for investment teams to make the most informed decisions in the shortest amount of time. ⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠scales the velocity of an investment team’s idea gen. Analysts spend less time locating and manually inputting meaningful disclosures into Excel and more time synthesizing in the minutes after the print. ⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠captures data from all company reported sources, including from footnotes, MD&As, and investor presentations. Our data sheets include GAAP to non-GAAP adjustments, guidance, and all company specific KPIs. Each datapoint is auditable to the source for easy verification and accuracy. ⁠⁠⁠⁠Daloopa’s ⁠⁠⁠⁠Excel plugin can also update your existing models for the latest quarter in just a single click.

    Bulge-bracket banks and major multi-managers are trusting ⁠⁠Daloopa ⁠⁠for use in initiating coverage, building and maintaining industry dashboards, and keeping their models up to date.

    Visit ⁠⁠⁠⁠⁠Daloopa.com/BusinessBrew⁠⁠⁠⁠⁠ to create a free account and learn more about how ⁠⁠⁠⁠Daloopa ⁠⁠⁠⁠can help increase your team’s speed to differentiated insight.



    Detailed Show Notes

    2:16 - That hot hot song



    3:00 - Andrew's reflections on Spirit



    15:40 - Bill's Qurate experience



    18:00 - The double edged sword of being public



    22:00 - What is the duty to vet guests?



    24:50 - Binary bets vs. slow bleed bets



    29:45 Being aware of being on tilt



    32:00 - Calumet Specialty Products discussion

    • 1 hr 4 min

Customer Reviews

4.8 out of 5
238 Ratings

238 Ratings

KPCA99 ,

I always learn something new

Bill -thanks for your continued effort in putting this podcast together. I walk away having learned something new nearly every podcast. The variety of guests is a plus, and asking great, clarifying questions for someone like me who doesn’t work in Finance is greatly appreciated.

11256HF ,

Great pod

Great content, seems like a nice guy

Upstate1984 ,

Worth a listen

Bill gets very good guests, asks probing questions and lets them talk. While he says he is getting better — and he is — not interrupting the guest when they are on a roll is a pro move.

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