Cultivating a Disaster Resistant, Compound Interest Machine

This podcast is sponsored by:

The CFA Institute. The CFA Institute is the global association of investment professionals whose mission is to lead the investment profession by promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society. CFA Institute serves a global community of investment professionals working to build an investment industry where investors' interests come first, financial markets function at their best, and economies grow. The Chartered Financial Analyst credential is the most respected and recognized investment management designation in the world. The views expressed in this podcast do not necessarily represent the views of the CFA Institute.

[00:01:34] – (First Question)– Start with some background on Brent and how he has gotten to this point.

[00:02:45] – Brent highlights the types of companies he wants to get involved with and what they hope to accomplish with their acquisitions

[00:05:05] – Looking at Brent’s early background, including what he studied in school and some of his early jobs

[00:07:23] – A look at his first business and how that led him to the entrepreneurial journey of buying companies

[00:08:45] – How Brent was able to use his own capital to make his first acquisition and grow from there

[00:12:20] – Some of the books that have influenced Brent’s earliest strategies

[00:16:41] – How Brent secures capital to buy companies and the discussion of debt

[00:18:41] – A look at some of the holdings in Brent’s portfolio

[00:22:04] – Patrick asks Brent what he looks for when choosing an investment target

[00:26:40] – What motivates the people who are on the other side of the table that are willing to sell their companies to people like Brent

[00:29:40] – Would Brent ever consider outside capital on an investment

[00:31:02] – The type of returns that Brent is seeing on his investments

[00:34:05] – How Brent is able to get the profitably model to grow quickly in their investments, often with some pretty simple improvements

[00:39:33] – What are the benefits of content marketing to boost your business

[00:45:51] – A closer look at marketing with respect to his business Influence & Co.

[00:49:09] – The conversation shifts to data and how Brent incorporates that into his business decision. Plus, his relationship with Shane Parrish of Farnam Street

[00:53:28] – Patrick asks Brent about his opinion of the public markets

[00:56:09] – Looking at Brent’s most interesting days both personally and professionally

[01:01:41] – A look into Brent’s foray in winemaking with his wife and the Beshore family vineyards.

[01:05:08] – Looking at debt beyond money: culture debt, code debt, systems debt, expectations debt, and more.

[01:10:09] – What is the biggest miss that Brent has ever had, and what lessons did he learn from that and other deals he hasn’t done

[01:16:27] – Brent explains his theory of not over-negotiating for a company that he is bidding for

[01:18:46] – The personality traits and skills that would help people thrive in the small to mid-market private investing space

[01:25:58] – What is the motivation for Brent to continue doing this

[01:28:55] – The daily values and habits that have aided Brent in his career

[01:31:24] – The kindest thing that anyone has ever done for Brent professionally