In this fun and insightful conversation we talk to Matt Reustle. Matt was a credit analyst and then equity analyst at Goldman Sachs in New York. He later worked on the buy-side and then moved to become Colossus's CEO, which is the podcast group responsible for Business Breakdowns and Invest Like The Best.
We talk about what people misunderstand about the Sell-side, why most investors fail with management meetings, what he learned from 200+ business breakdowns, and a few investing successes, as well as failures. We hope you enjoy!
You can download Matt Reustle's guide on meeting with management here.
Our memo on issues with the Sell-side can be read here.
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Show Notes
(0:00) — Intro
(1:12) — Misunderstandings on what is the Sell-side
(9:15) — Quick Insight into Credit Research
(11:58) — Conflicting Prerogatives of a Sell-side analyst
(19:14) — Why Most Investors Fail with Management Meetings
(29:50) — Business Breakdowns Takeaways
(36:24) — What Makes a Great Analyst
(44:29) — Matt’s Investing Style and 2 Stocks
(54:34) — What being CEO of Colossus taught Matt about Investing
(58:16) — Consumer Surplus's Role in Great Businesses
(1:02:51) — Does a Great Business Mean it Last a Long Time?
(1:09:00) — The Pain that is UPS
(1:12:56) — Conclusion
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Disclaimer
Nothing in this podcast is investment advice nor should be construed as such. Contributors to the podcast may own securities discussed. Furthermore, accounts contributors advise on may also have positions in companies discussed. Please see our full disclaimers here: https://speedwellresearch.com/disclaimer/