Pomysły tradingowe z podcastów

Acquired

Home Depot

14 wrz 2026157h

This is a historical narrative episode about Home Depot's founding, growth, Nardelli-era troubles, and Frank Blake turnaround, not an investment-recommendation episode. The hosts frame Home Depot as one of the best-performing stocks in S&P 500 history since its 1981 IPO, noting its $350B market cap, but they never explicitly recommend buying or shorting it. The only adjacent investable view is around Costco/Price Club as the model Bernie Marcus admired, mentioned in passing rather than as a call.

Pomysły · 2

• 2:04HDLongHosts repeatedly frame Home Depot as an 'all timer' whose IPO investment would have beaten Apple and compounded ~25%/year for 45 years, though they stop short of an explicit buy call. — Speaker 0-2,8% od odcinka
  Dlaczego ta transakcja

  “if you put a thousand dollars into Home Depot and Apple and their IPOs and you held them all today, your investment in Home Depot would beat your investment in Apple” — Speaker 0

  1. The hosts state $1,000 in the 1981 Home Depot IPO would be worth about $17M today versus $170,000 in the S&P 500.
  2. They note HD is the #1 total-return stock in the S&P 500 since its IPO and trades at a $350B market cap.
  3. That historical outperformance is presented as the story's premise rather than an actionable recommendation to buy today.
• 37:54COSTLongBernie Marcus takes Frank Blake to a Costco store walk as the embodiment of great retailing values, and Price Club's warehouse model is described as blowing away competitors. — Speaker 1-1,2% od odcinka
  Dlaczego ta transakcja

  “he's got this new store concept that he's launching down there in San Diego. And I'm telling you, man, it's gonna revolutionize the whole retail industry” — Speaker 1

  1. The hosts say Price Club/Costco's warehouse model was 'blowing everybody else in San Diego out of the water' with no backroom, no distributors, and direct-from-manufacturer buying.
  2. Bernie considers Costco the archetype of the retail values he wants Home Depot to recapture, taking new CEO Frank Blake there first.
  3. This is contextual admiration of the model, not an explicit investment recommendation in the episode.

Acquired

Disney: The Renaissance and the Empire

10 sie 2026996h

This episode of Acquired chronicles Disney's history, focusing on the Eisner era, the acquisition of ABC/ESPN, the Pixar acquisition, and the strategic shifts under Bob Iger. The hosts discuss the importance of ESPN as a cash engine and the revival of animation through Pixar. While they analyze the company's financial history and strategic decisions, they do not make any explicit investment recommendations or express personal views on Disney's current stock value. The episode is historical and educational, not a source of actionable investment calls.

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Acquired

The Walt Disney Company

22 cze 20262170h

The episode chronicles the early history of the Walt Disney Company, focusing on Walt Disney's entrepreneurial journey, the creation of Mickey Mouse, the development of the 'IP flywheel' business model, and the challenges of the 1940s including the animators' strike and World War II. The most actionable market view is Warren Buffett's 1966 investment in Disney, which he later sold, highlighting Disney as a great business at an attractive price. No current stock calls are made by the hosts or guests.

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Acquired

Vanguard

18 maj 20263013h

The episode covers Vanguard's history, from Jack Bogle's founding of the first index fund in 1975 to its current position as the world's largest passive fund manager. The hosts argue that low-cost index investing remains the best strategy for most individual investors, citing fee drag as a structural disadvantage for active management. They also discuss how Vanguard's mutualized model limits its ability to invest in technology and customer service, creating competitive openings for Fidelity and BlackRock in ETFs and advisory services.

Pomysły · 7

• 2:32:45VFIAXLongA low-cost index fund that historically outperforms the majority of active managers over the long term, making it the core recommended investment for most individuals. — David Rosenthal–
  Dlaczego ta transakcja

  “The Vanguard five hundred index fund blows away Ted's selected hedge fund portfolio so much so that Ted ends up conceding early.” — David Rosenthal

  1. The hosts repeatedly affirm that index funds beat most active managers after fees, echoing Bogle's cost-matters hypothesis.
  2. Jack Bogle's creation of the first index fund and Vanguard's relentless fee cutting made this the standard-bearer for low-cost investing.
  3. Warren Buffett's bet and endorsement validate the product; the fund is a practical pick for long-term passive exposure.
• 1:27:36VTSAXLongOwning the entire US stock market is nearly identical to the S&P 500 in the long run but eliminates the need to license the index, offering a simpler total-market approach. — Ben Gilbert–
  Dlaczego ta transakcja

  “If you own the S and P 500 or you own the entire US stock market, in the long run, they're gonna be nearly identical returns.” — Ben Gilbert

  1. The hosts note the two funds are 'effectively the same thing' in returns, but the total market fund avoids S&P licensing fees.
  2. Vanguard launched this fund in 1992 to track every US stock, leveraging scale to reduce costs further.
  3. It provides diversification across all US equities, aligning with the low-cost indexing philosophy praised throughout the episode.
• 2:19:55BRKBLongWarren Buffett's company is an extreme exception to the active management norm, generating 19% CAGR over 60 years, but the hosts highlight it as a unique outperformer, not a general recommendation. — Ben Gilbert+0,7% od rejestracji
  Dlaczego ta transakcja

  “Berkshire was a 19% compound annual growth rate for a 39,000 x return.” — Ben Gilbert

  1. The hosts present a chart showing Berkshire's 39,000x return vs 405x for the S&P 500 since 1965.
  2. They describe Berkshire as 'the vanguard of private equity funds' with no fees, but concentrated, unlike index funds.
  3. Despite Buffett's endorsement of index funds, Berkshire itself is a well-known long-term compounder, though riskier due to concentration.
• 2:47:04Fidelity InvestmentsLongFidelity's platform strategy—offering 401(k)s, brokerage accounts, and even cheaper index funds as loss leaders—positions it well against Vanguard in the retail investing experience. — David Rosenthal–
  Dlaczego ta transakcja

  “Fidelity is just a better product and product experience than Vanguard. So during the pandemic, especially, it exposed that Vanguard's customer service and technology is, like, jank.” — David Rosenthal

  1. The hosts note Fidelity's 'home run platforms' in 401(k) and brokerage, which hold many Vanguard ETFs.
  2. Fidelity profits from customer relationships in ways Vanguard cannot, given its mutualized structure.
  3. Their superior technology and customer service are highlighted as weaknesses for Vanguard, making Fidelity a competitive long pick.
• 2:50:18BLKLongBlackRock's dominance in ETFs through iShares and its diversified international/institutional client base make it a strong winner in the growing passive investing market. — David Rosenthal–
  Dlaczego ta transakcja

  “BlackRock is today the number two player in ETFs, but smaller both number of funds and then assets under management, and BlackRock continues to kinda accelerate away from them.” — David Rosenthal

  1. The hosts note BlackRock is 'the largest AUM asset manager in the world' with 1,400 ETFs and $3.3 trillion in ETF assets.
  2. Its 2009 acquisition of iShares made it the ETF leader, and profits from other businesses subsidize ETF growth.
  3. With ETF market growing 30% annually, BlackRock is 'starting to run away with it here,' according to the episode.
• 2:47:21Vanguard GroupUnikaćVanguard's no-profit model limits its ability to invest in technology and customer service, and it faces competitive threats from Fidelity and BlackRock in ETFs and advisory, though its core indexing remains solid. — David Rosenthal–
  Dlaczego ta transakcja

  “The downside of its structure is that there are no excess profits that can be invested for the long term in things like technology and things like customer service.” — David Rosenthal

  1. The episode enumerates Vanguard's weaknesses: 'customer service, technology' and lack of innovation in a decade.
  2. Competitors like Fidelity and BlackRock can profit from relationships and subsidize loss-leader funds.
  3. The hosts question whether Vanguard's model 'actually hold it back today' relative to its competitors.
• 1:25:18SPGILongS&P Global earns substantial licensing fees from index providers like Vanguard and BlackRock, making it a direct beneficiary of the indexing boom. — Ben Gilbert–
  Dlaczego ta transakcja

  “Vanguard pays S and P Global something like 3 to $400,000,000 per year and is their single largest licensing client.” — Ben Gilbert

  1. The hosts mention Vanguard pays S&P Global $300-400 million annually, its single largest licensing client.
  2. The licensing segment generates $1.85 billion annually, described as 'all profit.'
  3. As indexing grows, S&P's licensing revenue is set to increase, making SPGI a listed beneficiary.

Acquired

Ferrari

13 kwi 20263853h

The episode traces Ferrari's history from Enzo Ferrari's founding through its IPO and current business model, highlighting its transformation into a luxury brand with extreme scarcity and pricing power. Key takeaways include Ferrari's vast market cap relative to production volume, its high-margin supercar and Icona model lines that drive outsized profits, and disciplined production caps (e.g., Purosangue limited to 20% of volume). The hosts note Ferrari's sold-out waitlist through 2027 and rising average selling prices, but they do not make any explicit buy or sell calls on the stock.

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Acquired

Rolex

5 mar 20264788h

The episode details Rolex's history, from its founding by Hans Wilsdorf to its evolution into a luxury brand. It discusses how the brand built its identity through product innovations and marketing, and highlights the modern market dynamics where Rolex watches are in high demand and often appreciate in value. The hosts note that while Rolex is privately held and not investable, the story offers insights into branding and luxury market trends.

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Acquired

Costco

4 mar 20264811h

This episode provides an in-depth history and analysis of Costco, highlighting its business model, competitive advantages, and growth prospects. The hosts express strong admiration for the company, with David Rosenthal stating he is in love with the business. They discuss the stock's long-term performance and suggest that owning Costco has been and likely will be excellent for shareholders, despite its high valuation. No specific stock recommendations are made beyond positive sentiment towards Costco itself.

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Formula 1

2 mar 20264842h

The episode discusses the business history of Formula One and its current ownership by Liberty Media (FWONK). The hosts highlight Liberty's successful strategy of fixing team relationships with a cost cap, improving race promoter relations, and growing fan engagement, which has made F1 teams profitable. They suggest that the sport is now professionally managed and that FWONK is effectively F1 itself, implying a positive view on FWONK as an investment due to its growth potential.

Pomysły · 2

• 2:31FWONKLongLiberty has transformed F1 into a professionally managed, growing business with underutilized growth potential in the US and digital media, which they have begun to unlock. — Ben Gilbert–
  Dlaczego ta transakcja

  “it's fair to say that the races are more determined by the design feats of the thousand plus people that work on each car than the drivers.” — Ben Gilbert

  1. The hosts describe Liberty's acquisition and strategy positively, noting they fixed team relations, added cost caps, and improved promoter and fan relations, leading to growth.
  2. FWONK is effectively Formula One after spins, so the story of F1's turnaround and growth maps directly to the equity.
  3. The implication is that the improving business fundamentals will drive FWONK's value higher.
• 2:51:31MBG.DELongMercedes has built a dominant F1 team that is now highly profitable and provides significant marketing value, enhancing the parent company's brand. — Ben Gilbert–
  Dlaczego ta transakcja

  “Mercedes does an estimated 200,000,000 in operating income from Formula one now.” — Ben Gilbert

  1. The hosts detail Mercedes' $6B valuation for the racing team and $200M annual operating income, calling it a great business.
  2. Mercedes' F1 team is owned by the parent company, Mercedes-Benz Group, so the economic benefit accrues to it.
  3. This supports a long view on Mercedes as the parent benefits from F1 success.

Acquired

The NFL

27 sty 20265678h

The episode recounts the NFL's rise from its 1920 founding to a dominant media property, attributing its success to equal revenue sharing, competitive balance, and TV innovation. It highlights the NFL's current $18B annual revenue and $112B TV deals, while noting risks like Gen Z disinterest and CTE concerns. No specific stock picks were made, only business context.

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Acquired

10 Years of Acquired (with Michael Lewis)

15 gru 20256708h

The episode is a 10-year anniversary special of the Acquired podcast, where hosts Ben Gilbert and David Rosenthal discuss the show's history and business model with guest Michael Lewis. While they don't make any direct stock picks, Michael Lewis reveals he is a long-term Berkshire Hathaway shareholder, having bought A-shares during the 2008 financial crisis and holding them since. The conversation also covers lessons from covering companies like Costco and NVIDIA, emphasizing quality and scarcity, which they apply to their own business.

Pozycje · 1

• 20:18BRKBLongMichael Lewis bought Berkshire A-shares during the 2008 financial crisis, viewing Buffett's capital as uniquely valuable in a credit crunch, and has held them since. — Michael Lewis+0,7% od rejestracji
  Dlaczego ta transakcja

  “I bought a chunk of the A shares, And I've just sat on them.” — Michael Lewis

  1. Michael Lewis states he bought Berkshire shares in 2008 because he believed Buffett's capital would be invaluable when credit was scarce.
  2. He explicitly says he has held the shares since, despite selling some for charitable donations.
  3. He expresses continued admiration for Buffett and the company's long-term compounding.