Cele mai bune Business Breakdowns podcast-uri (2024)

1
Fastenal: A Nuts & Bolts Success Story - [Business Breakdowns, EP.191] 50:35

6d ago50:35

50:35

This is Zack Fuss. Today we're breaking down Fastenal. Starting as a small fastener retailer in Minnesota, the company has evolved into a mission-critical supply chain partner for its industrial customers. Today, the business sports a nearly $50 billion market cap and produces nearly $8 billion in sales. The impact of Fastenal's founder, Bob Kierli…

1
Demographics Driving Real Estate - [Business Breakdowns, EP.190] 53:21

13d ago53:21

53:21

Today, my guest is Fernando De Leon, founder of Leon Capital Group. Fernando operates 14 different businesses under the Leon Capital umbrella, which vary across real estate, healthcare, and financial services. But as you will hear in our conversation, the businesses are connected and instruct one another. The connective tissue throughout this conve…

1
Merck & Co: Blockbuster Drugs - [Business Breakdowns, EP.189] 1:06:25

21d ago1:06:25

1:06:25

This is Zack Fuss. Today we are breaking down Merck, one of the world's largest and oldest pharmaceutical companies. The company has been shaping medicine and fostering innovation for over 130 years. From its humble beginnings as a small family pharmacy in Germany, today's iteration of Merck has transformed into a nearly $300 billion market cap bus…

1
American Tower: Signals and Stability - [Business Breakdowns, EP.188] 40:40

26d ago40:40

40:40

Today we are breaking down American Tower: the REIT, the communications giant, and the infrastructure asset. To break down American Tower I'm joined by William Heard, founder and CIO of Heard Capital Management. William founded Heard Capital in 2011. Today, the firm manages $2 billion in assets, holds about 15 to 20 names, and has very specific cri…

1
AIG: Rise, Fall, and Rebirth - [Business Breakdowns, EP.187] 50:29

1M ago50:29

50:29

Today, we are breaking down the insurance giant AIG. AIG's story is one of a remarkable turnaround, a tale of a global insurance giant emerging from near collapse during the great financial crisis. Over nearly two decades, AIG has transformed itself into a more focused and efficient property and casualty insurer. To grasp the magnitude of AIG's jou…

1
Gregorys Coffee: From Bean to Dream - [Business Breakdowns, EP.186] 1:39:20

1M ago1:39:20

1:39:20

Today we are getting into the world of coffee with Gregory Zamfotis, the founder of Gregorys Coffee. We breakdown the New York City born coffee chain that now spans across twelve US states. This is a true look into what it takes to open up a coffee shop and the economics behind it. We get into what it's like to innovate in an industry where innovat…

1
Going Activist in Japan - [Business Breakdowns, EP.185] 59:45

2M ago59:45

59:45

Today, we are covering what might be the most interesting investment strategy I've come across in a long time: activism in Japan. In this episode, I talk with Masumi Nishida, Partner and Managing Director for Dalton's Tokyo research office. As part of this intro, I brought on the catalyst for this episode, Nick Bartolo, founder and Managing Partner…

1
RTW: Investing across Healthcare - [Business Breakdowns, EP.184] 1:06:57

2M ago1:06:57

1:06:57

Today we are breaking down healthcare, one of the most impactful sectors in the world, yet one of the most unique for investors. My guests are Rod Wong, founder and CIO of RTW Investments, and Stephanie Sirota, chief business officer of RTW Investments. RTW was founded in 2009 and operates a sector-specific strategy in healthcare. We discuss the ev…

1
Sherwin-Williams: Brushstrokes of Success - [Business Breakdowns, EP.183] 1:04:28

2M ago1:04:28

1:04:28

Today we are breaking down the paint giant Sherwin-Williams. Founded in 1866, Sherwin Williams is a great example of a company where everyday consumers might not appreciate just how great of a business and stock this has been. Over the last 20 years, Sherwin has compounded earnings at 14% per year. And over those 20 years, the stock has returned 26…

1
Rakuten: Rewiring Japan's Digital Economy - [Business Breakdowns, EP.182] 55:18

2M ago55:18

55:18

Today, we are breaking down the Japanese internet conglomerate Rakuten. I'm joined by Matt Brett, the lead manager of the Japan Trust at Baillie Gifford, which has continuously invested in Rakuten since 2005. Rakuten is the unique Japanese conglomerate that wasn't started over a hundred years ago and instead was part of the late nineties global int…

1
Renishaw: The Precision Pioneers - [Business Breakdowns, EP.181] 50:28

3M ago50:28

50:28

Today, we are breaking down Renishaw, a leading supplier of measuring and manufacturing systems, specifically focused on accuracy and precision. What does that mean in layman's terms? Renishaw is a picks and shovels provider to many of the fastest-growing end markets in the world. The company designs and develops systems for anything revolving arou…

1
3i Group: Capital in Action - [Business Breakdowns, EP.180] 38:43

3M ago38:43

38:43

Today we are breaking down the publicly traded investment company 3i. You may think if you've seen one publicly traded investment vehicle, you've seen them all. Yet, 3i is an investment vehicle where one business, Dutch retailer, Action, represents well north of 50% of their net asset value. Our guest to break down 3i is Luke Bridgeman, a partner a…

1
5 Handpicked Highlights - [Business Breakdowns, EP.179] 23:22

3M ago23:22

23:22

This is Matt Reustle. We're coming up on 200 episodes of Business Breakdowns, and one of the best things about hosting this show is that while each episode brings something completely different, you start to see the connective tissue that ties businesses together. We're often asked, "What's your favorite episode?" I certainly have favorites, but th…

1
Graco: Mastering The Flow - [Business Breakdowns, EP.178] 42:53

3M ago42:53

42:53

This is Jesse Pujji. Today, we're breaking down Graco, a leading manufacturer of fluid handling equipment and industrial products. Graco was founded in 1926 and has become a global leader in the design and manufacturing of systems and components used to move, measure, control, dispense, and spray a wide variety of fluids and powders. If you've ever…

1
Siemens Energy: Winds of Change - [Business Breakdowns, EP.177] 54:14

3M ago54:14

54:14

I'm Zack Fuss and today we are breaking down Siemens Energy, a spinoff from industrial giant Siemens. Siemens Energy operates across the entire energy value chain, with a significant presence in both conventional and renewable power. What makes this company particularly interesting is its position at the forefront of the energy transition. Siemens …

1
Olympic Games: The Price of Glory - [Business Breakdowns, EP.176] 42:26

4M ago42:26

42:26

Today we are diving into the economics of the Olympics. It's a timely episode with the Paris Games ongoing right now and the economic reality for host cities is extremely poor. It's estimated that Paris is going to spend $9 billion for these 2024 games and in return, they'll generate revenue somewhere in the mid-single-digit billions. Our guest is …

1
Axon: Stunning The Competition - [Business Breakdowns, EP.175] 53:02

4M ago53:02

53:02

Today, we are breaking down Axon Enterprise. You may know Axon as the pioneer of the taser. The business has truly evolved over the years and now has expanded into body cams and other supporting tools for law enforcement and the defense industries. Our guest is Danielle Menichella, portfolio manager at Sands Capital Management. Danielle details not…

1
Rolls-Royce: Turbines and Tribulations - [Business Breakdowns, EP.174] 55:56

4M ago55:56

55:56

Today, we are breaking down Rolls-Royce. A fair warning to those expecting to hear about luxury automobiles, that division was split from this business in the 1970s. But as we discuss the history of Rolls-Royce on this episode, you will hear how the DNA of this company still ties together from its early 1900s origins. Our guest is Graeme Forster fr…

1
Cintas: Rags to Riches - [Business Breakdowns, EP.173] 46:10

4M ago46:10

46:10

This is Zack Fuss. Today, we are breaking down Cintas Corporation. It is America's largest uniform rental company, and for around $1.50 per worker per day, Cintas will collect, clean, and replace uniforms for organizations in industries such as lodging, hospitality, entertainment, manufacturing, and retail. To help break down Cintas, I am joined by…

1
Mineral Resources: Unearthing Value - [Business Breakdowns, EP.172] 51:35

5M ago51:35

51:35

This is Matt Reustle. Today, we are breaking down Mineral Resources. Even if you've had some bad experiences investing in commodities, I would not skip over this one so quickly. Fraser Christie, investor at TDM Growth Partners, joined me to talk about how MinRes has taken a different approach to the historically cyclical boom-bust industry. We walk…

1
Motorola Solutions: From Zero to Hero - [Business Breakdowns, EP.171] 55:06

5M ago55:06

55:06

Today, we are breaking down Motorola Solutions. This breakdown is a fascinating story of brand versus business, as Motorola was a mainstay on Interbrands' Top 100 Brand list for most of the 2000s. I'm joined by Portfolio Manager, Joseph Shaposhnik. We discuss how Motorola achieved stealth success over the past 15 years while Apple overtook its icon…

1
The Marina Industry: Building Moats, Storing Boats - [Business Breakdowns, EP.170] 43:28

5M ago43:28

43:28

This is Zack Fuss. Today, we are breaking down the U.S. Marina Industry. In the U.S. there are more than 11,000 marinas, grossing over $6 billion in sales. Today, there is a 12 to 1 ratio of registered boats versus the supply of rentable wet slips and dry storage spaces. Zoning regulations lead to limited supply growth, which has led to a sustained…

1
Coupang: Korean E-Commerce Craze - [Business Breakdowns, EP.169] 1:01:39

5M ago1:01:39

1:01:39

Today, we are breaking down the South Korean e-commerce giant Coupang. If we ran through the taxonomy of investor interests, this Coupang conversation checks many boxes on that list. It is a founder-owned and operated business, a business that went through a massive pivot years into existence, a business that's replicating the Amazon model to succe…

1
Lifco: Dentistry, Demolition, and Decentralization - [Business Breakdowns, EP.168] 47:47

6M ago47:47

47:47

This is Zack Fuss. Today we are breaking down Lifco, a Swedish conglomerate recognized amongst a group of notable Scandinavian serial acquirers. Lifco’s business focus is to acquire and develop market-leading niche companies that run independently and are largely self-funded business units. Carl Bennet, the current chairman, is the architect behind…

1
CHIPS Act: Securing Semiconductor Supply - [Business Breakdowns, EP.167] 49:29

6M ago49:29

49:29

We have a special episode today, breaking down the CHIPS Act. We've covered the semiconductor space in depth on Business Breakdowns, but in this conversation, we go broader. We discuss the CHIPS Act, enacted by Congress in 2022, which aimed at boosting the US's semiconductor manufacturing capabilities to better compete with East Asia. America had b…

1
InterDigital: Setting Wireless Standards - [Business Breakdowns, EP.166] 53:49

6M ago53:49

53:49

Today we are breaking down InterDigital, a really interesting business that sits completely under the radar for most investors. InterDigital has the foundational patented technology that makes mobile phone communication and device-to-device communication possible. Everything revolving around 2G, 3G, 4G, 5G, the Internet of Things, and all of these …

1
Bajaj Finance: Strategies of a Lending Giant - [Business Breakdowns, EP.165] 1:00:18

6M ago1:00:18

1:00:18

Today, we break down India's largest non-banking financial company, Bajaj Finance. Bajaj has a market cap of over $50 billion, which can largely be attributed to the significant growth over the past two decades. One of the headline numbers that immediately caught my attention from Bajaj is that the loan book compounded 40% from 2009 to 2022. To bre…

1
The Evolution of Private Credit: Part 2 - [Business Breakdowns, EP.164] 46:06

6M ago46:06

46:06

Welcome back for part two of this business breakdown on the private credit markets. I am now joined by Josh Clarkson, managing director at Prosek Partners. Our discussion with Armen was really focused on the supply & demand dynamics of private credit, where the public markets & regulatory markets have played a role, that certainty and speed of gett…

1
The Evolution of Private Credit - [Business Breakdowns, EP.163] 53:52

6M ago53:52

53:52

Today, we have a special two-part episode on private credit. In 2023, the global private credit market topped $2.1 trillion in assets and committed capital. Rather than making blanket statements like private credit is an emerging bubble, we wanted to explore the various segments of private credit and ask simple questions like “Where is this growth …

1
British American Tobacco: Clearing the Air - [Business Breakdowns, EP.162] 46:34

7M ago46:34

46:34

Today, we are breaking down British American Tobacco. Regardless of your views on tobacco as a product, the market is one of the oldest in the world. My guest for today is Evan Tindall, co-founder and CIO of Bireme Capital, and he helps us cover how the tobacco market has evolved. We go way back in time, discussing how the product itself has evolve…

1
AMETEK: Industrial Excellence - [Business Breakdowns, EP.161] 54:59

7M ago54:59

54:59

Today, we cover the industrial conglomerate AMETEK. This is one of eight companies that Mark Leonard and his team at Constellation Software studied as they built their own empire. And it's one well worthy of a discussion as you'll hear. To break down AMETEK, I'm joined by Nael Fakhry, Co-CIO of the Osterweis Capital Management Growth and Income Str…

1
Gartner: Compound Insights - [Business Breakdowns, EP.160] 47:38

7M ago47:38

47:38

Today, we're covering a behemoth in the research market, Gartner. Executives are willing to pay up to $30,000 for reports and $50,000+ for full subscriptions so they can access insights and data to help them make business decisions, purchasing decisions, and pivoting decisions. Our guest is Alvise Peggion, portfolio manager at Fairlight Asset Manag…

1
Winmark: Resale at Scale - [Business Breakdowns, EP.159] 51:11

7M ago51:11

51:11

This is Matt Reustle. Today, we break down Winmark, a major player in the reseller economy. You're likely familiar with some of Winmark’s brands, like Plato's Closet or Play It Again Sports. Altogether, Winmark operates five brands through a franchising model. Our guest to break down Winmark is the current CEO, Brett Heffes. During our conversation…

1
Embraer: Defying Gravity - [Business Breakdowns, EP.158] 50:21

7M ago50:21

50:21

This is Matt Reustle. We are back in the world of aviation today, breaking down Embraer. Embraer has carved out an interesting niche, manufacturing regional jets, business jets, and military aircrafts. Our guest is Richard Aboulafia, Managing Director at AeroDynamic Advisory and long-time aviation analyst and consultant. We break down how this avia…

1
Boeing (REPLAY): Turbulent Times - [Business Breakdowns] 47:16

8M ago47:16

47:16

Today we’re replaying our Breakdown on Boeing, hosted by Zack Fuss. We recorded the episode in September before the mid-air blowout on a Boeing 737 operated by Alaska Airlines and the subsequent management changes, but it serves as a useful overview of the commercial airline industry writ large, how we got here, and what the future might look like.…

1
Duolingo: Free Speech - [Business Breakdowns, EP.157] 59:52

8M ago59:52

59:52

This is Matt Reustle. Today we are breaking down Duolingo, the learning app built on language learning that is increasingly expanding into other territories like math and music. Founder Luis von Ahn is constantly looking for ways to make this accessible and free to use for people all around the world while simultaneously finding reasonable ways to …

1
Mitsubishi Corporation: A Japanese Trading Company - [Business Breakdowns, EP.156] 45:58

8M ago45:58

45:58

This is Zack Fuss. Today we are breaking down the Mitsubishi Corporation. In Japan, the business model of a trading company is prominent. The big five trading companies caught the attention of global investors in 2020, when Berkshire Hathaway disclosed a major stake in all of them: Mitsubishi, Mitsui, Itochu, Marubeni, and Sumitomo. Today's Berkshi…

1
Intuitive Surgical: Robotic Precision - [Business Breakdowns, EP.155] 1:06:24

8M ago1:06:24

1:06:24

Today, we are breaking down a giant in the medical device space, Intuitive Surgical. Intuitive creates robotic products to assist minimally invasive surgeries. Its Da Vinci system is a pioneer in this area as it increases the efficiency & accuracy of surgery and reduces the burden on the surgeons themselves. To break down Intuitive, I'm joined by J…

1
D.R. Horton: Building a New Model - [Business Breakdowns, EP.154] 1:05:06

8M ago1:05:06

1:05:06

This is Matt Reustle. Today, we are breaking down D.R. Horton, America’s largest homebuilder. Our guest is Ed Wachenheim, Founder of Greenhaven Associates. Ed takes us through an incredible discussion of D.R. Horton and homebuilders broadly, including how much has changed with this business model over the years. Ed shares countless entertaining sto…

1
FTX: Inside the Restructuring - [Business Breakdowns, EP.153] 48:00

8M ago48:00

48:00

This is Matt Reustle. Today we are releasing a bonus episode of Breakdowns. While we typically love to cover businesses, this was an interesting opportunity to cover a special situation around a business. And in this case, the FTX bankruptcy. I was joined by Erin Broderick, Head of U.S. Cross-Border Restructuring & Insolvency at Eversheds Sutherlan…

1
CNX Resources: Hit the Gas - [Business Breakdowns, EP.152] 53:37

9M ago53:37

53:37

This is Matt Reustle. Today, we are going into the land of oil and gas to break down CNX. The history of CNX dates back over 150 years. When it comes to energy production, the company's evolution has been very comparable to that of the United States. Our guest today is James Wilson, manager of The Huginn Fund at Phoenix Asset Management. We discuss…

1
Vulcan Materials: Rock On - [Business Breakdowns, EP.151] 52:33

9M ago52:33

52:33

This is Matt Reustle. Today, we are breaking down Vulcan Materials. Vulcan is America's largest producer of construction aggregates. This includes all of the crushed rock, sand, and gravel, which gets used for the foundation of nearly everything around us. Think of all of the buildings, the roads, and the infrastructure that define the physical foo…

1
HEICO: Parts for Planes - [Business Breakdowns, EP.150] 1:02:48

9M ago1:02:48

1:02:48

This is Matt Reustle. Today we are breaking down HEICO. HEICO is an aerospace business, most notably operating in the aircraft parts and repairs market. This is another case study of a very successful business in a nonobvious niche market. To break down HEICO, I am joined by Eric Ruden, an analyst at Ironvine Capital. We cover the fascinating story…

1
Intel: Cyclical Recovery or Secular Demise? - [Business Breakdowns, EP.149] 1:06:37

9M ago1:06:37

1:06:37

This is Matt Reustle. Today, we are breaking down Intel. In the late 80s, a newly appointed CEO, Andy Grove, pivoted to exit memory chips and focus on logic chips. They were the leading edge chip designer, but Intel missed out on the mobile market and EUV technology as technology shifted. Now they're left playing catch up and falling from their ico…

1
Arthur J. Gallagher: Insurance Broking - [Business Breakdowns, EP.148] 47:29

10M ago47:29

47:29

I'm Zack Fuss. Today we're breaking down Arthur J. Gallagher, a global insurance brokerage. AJG was established in 1927 by Arthur James Gallagher and is now one of the largest insurance brokerages by revenue, exceeding $10 billion. AJG competes with the likes of Marsh McLennan, Aon, and Willis Towers Watson. To break down Gallagher, I am joined by …

1
Samsung: Semiconductors over Smartphones - [Business Breakdowns, EP.147] 51:24

10M ago51:24

51:24

This is Matt Reustle. Today, we are breaking down the technology conglomerate Samsung. Only Apple, Microsoft, Google, and Amazon ranked higher than Samsung in Interbrand's latest brand value rankings, with Samsung being the fifth most valuable brand in the world. It's everywhere around us: our phones, our TVs, our refrigerators, our washing machine…

1
Patek Philippe: Watch Perfection - [Business Breakdowns, EP.146] 59:40

10M ago59:40

59:40

You never own a Patek Philippe, you merely watch over it for the next generation. I'll say it's the best marketing campaign in history, a campaign appropriate for the world's premier watchmaker and a watchmaker worthy of a Business Breakdown. Our guest today is John Reardon from Collectability. John has worked at Sotheby's, the auction house, and s…

1
Rolex: Timeless Excellence - [Business Breakdowns, Forever Episode] 1:01:39

10M ago1:01:39

1:01:39

Today, we're running our Business Breakdown on Rolex. This episode of Rolex is one of our most popular breakdowns of all time, so it's always worth revisiting. But, it's also a timely revisit…Later this week, we'll be releasing a Business Breakdown on Patek Philippe and this episode of Rolex is the perfect appetizer for that discussion. For the ful…

1
Visma: Mission Critical European Software - [Business Breakdowns, EP.145] 46:04

10M ago46:04

46:04

This is Zack Fuss. Today we are breaking down the largest privately-owned software business in Europe, Visma. Visma is a software company with over 15,000 employees offering accounting, payroll, and HR software products for customers across the Nordic, Benelux, and Baltic regions. Founded in Oslo in 1996, Visma grew organically and via acquisition …

1
Trane Technologies: Hot and Cold - [Business Breakdowns, EP.144] 46:53

10M ago46:53

46:53

This is Matt Reustle. Today we venture into the world of HVAC to break down Trane Technologies. Now, it's not often that I come across an industrial company with a $50 billion market cap that I just hadn't heard of. So when our guest today, Brett Larson, investor at NZS Capital, suggested Trane, it was as easy of a 'yes' as they come. Brett and I c…

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