EP. 76: Eddie Palmgren and Niklas Sävås: Investing by the Books Podcast Hosts
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Today’s guests — Eddie Palmgren and Niklas Sävås are passionate about learning and investing. They are the hosts of Investing by the Books podcast and work at Redeye, an investment bank in Stockholm, Sweden.
It’s a wide-ranging rich discussion from inheritance to immortality and everything in between.
Today, they both share with me not only their childhood stories but also family histories that shed light on their curiosity about money and investing. You know how interested I am in family fortunes, and my guests have stories to tell.
We talk about their podcasting experience hosting their wonderful Investing by the Books podcast. My guests share ideas, books, and lessons. Eddie and Niklas introduced me to serial acquirers, a unique type of business they are especially interested in. They shared more about Sweden, where they live, and the wonderful events they host yearly. Stay tuned until the end, when Eddie and Niklas tell me how they look at success from their own perspective.
It wasn’t my first chat with my guests, and I’m grateful they sat down with me and talked about their passions, interests, and stories. I greatly enjoyed every minute of it, and I trust you will, too.
Summary
In this conversation, Eddie and Niklas discuss their childhood upbringing and their relationship with money. They also talk about the importance of long-term thinking in investing and share their investing styles.
They reflect on their experience hosting the Investing by the Books podcast and the impact it has had on their listeners. They discuss the value of time and money and how they prioritize their time. Finally, they explore the concept of immortality and how they would live their lives if they were immortal.
The conversation explores the impact of books on thinking and investing, the concept of investing with an immortal life, the importance of wealth preservation, the power of multidisciplinary thinking, the impact of survival stories on risk perception, navigating risks and unknowns in investing, the importance of trust in public markets, the different types of serial acquirers, and the case study of Teledyne and Henry Singleton.
In this conversation, Eddie and Niklas discuss the principles of success, their upcoming conference, and their personal definitions of success. They emphasize the importance of financial independence and following principles taught by successful individuals like Warren Buffett. They also highlight the value of having friends and family who love and admire you for living an honest and good life.
The conversation explores the power of habits and the importance of finding happiness in everyday life. Ultimately, they encourage listeners to enjoy the journey of life rather than focusing solely on winning and losing.
Takeaways
Books can have a profound impact on thinking and investing, providing new perspectives and ideas.
If one had an immortal life, their investment strategy would likely shift towards long-term preservation.
Wealth preservation is a crucial consideration for long-term investors, as many fortunes have been lost due to poor investments and overspending.
Multidisciplinary thinking can lead to valuable insights and connections between different fields and investing.
Survival stories can provide valuable lessons about risk perception and the importance of being prepared.
Navigating risks and unknowns in investing requires careful consideration and a focus on long-term preservation.
Trust is a crucial aspect of public markets, as investors rely on fair treatment and equal opportunities.
Serial acquirers can be categorized as niche acquirers, roll-up consolidators, or holding companies, each with their own strategies and approaches.
The case study of Teledyne and Henry Singleton highlights the success and challenges of a long-term serial acquirer. Financial independence and following principles taught by successful individuals can lead to success.
Having friends and family who love and admire you for living an honest and good life is a measure of success.
Building positive habits and finding happiness in everyday life are key to success.
Enjoying the journey of life is more important than focusing solely on winning and losing.
Chapters
05:36 Introduction
07:42 Childhood Upbringing and Relationship with Money
14:53 The Importance of Long-Term Thinking
22:22 The Why of Investing and Investing Style
30:12 The Experience of Hosting a Podcast
36:50 The Question They Ask Their Guests
41:02 The Value of Time and Money
43:51 The Concept of Time and Immortality
44:55 The Impact of Books on Thinking and Investing
46:56 Investing with an Immortal Life
48:16 Investing for Long-Term Preservation
50:09 The Importance of Wealth Preservation
53:55 The Power of Multidisciplinary Thinking
55:19 The Impact of Survival Stories on Risk Perception
58:11 Navigating Risks and Unknowns in Investing
01:02:24 The Importance of Trust in Public Markets
01:04:44 The Different Types of Serial Acquirers
01:10:06 The Case Study of Teledyne and Henry Singleton
01:26:26 Principles of Success
01:27:50 The Conference
01:30:25 Defining Success
01:32:57 Finding Happiness
01:34:55 The Power of Habits
01:36:06 Enjoying the Journey
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