The Search for the Truth with the Anonymous Master

[00:01:33] – (First Question) – Jesse’s origin story for investing

[00:04:37] – Exploring his ways of problem-solving starting with intuitive

[00:11:46] – Looking at the analytical way of problem-solving

[00:15:42] – Statistical inference

[00:24:45] – Should we opt for simplicity in the investment process

[00:25:26] – Does his own investing include all three, intuition, analysis, and statistics

[00:26:09] – The evolution of his research, process, and thinking on various investment factors.

[00:31:38] – Thoughts on inflation and its impact on market valuation

[00:40:05] – The Earnings Mirage

[00:46:25] – Free Cash flow and valuations

[00:50:51] – What should investors take away from this research

[00:53:01] – Thoughts on trend as an interesting market signal

[00:59:00] – The problems with trend

[01:11:15] – His work into understanding factors

[01:15:36] – Looking at momentum

[01:18:16] – His curiosity into the current market cycle

[01:20:04] – Lessons learned from his time in the military, an effective way to create an environment where people can safely disagree with their co-workers

[01:30:10] – The concept of progress in meaningful work

[01:33:08] – Kindest thing anyone has done for him