Podcast
A Book with Legs
Hosted by Smead Capital Management · EN
In each episode, we explore value investing through an entirely unique lens, bringing in authors to discuss books that have directly or indirectly influenced the decisions the Smead Capital Management team has made on their investments in stocks and equities. The podcast is for the curious-minded looking for worldly wisdom. Investing is the last great liberal art, and the team at Smead wants to learn as much as they can. Any level of investor, business person, or thinker, whether personally or professionally, will be intrigued and engaged by these discussions.
53episodes
Episodes
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Andrew Seth Meyer: To Rule All Under Heaven
1w ago01:16:45Tap to summarizeWhat makes a civilization endure, and how did a Chinese empire that conquered everything fall apart in 15 years?In the latest episode of A Book with Legs, Smead Capital Management CEO and Portfolio Manager Cole Smead is joined by professor and author Andrew Seth Meyer to discuss his book, titled "To Rule All under Heaven: A History of Classical China, from Confucius to the First Emperor."Cole and Andrew explore one of the most consequential periods in Chinese history, a 200-year era of warring states that began with Confucius and ended with the rise and swift collapse of China's first empire. They also discuss the role of philosophy in shaping power, Confucius’ works in a modern context, and what this story reveals about the world we navigate today.Those who would like to learn more about Professor Meyer can visit: https://www.andrewsethmeyer.com/.Sign up to be notified about new A Book with Legs episodes: https://hubs.ly/Q0452Lh70
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Gaurav Suri - The Emergent Mind: How Intelligence Arises in People and Machines
3w ago01:05:28Tap to summarizeWhat in the subconscious mind informs our actions, and what are our neural networks capable of that distinguishes them from machines such as LLMs?Gaurav is a computational neuroscientist, experimental psychologist, and an associate professor at San Francisco State University. He also co-authored “A Certain Ambiguity: A Mathematical Novel” and holds a master's in mathematics and computer science and a PhD in psychology. Purchase “The Emergent Mind: How Intelligence Arises in People and Machines” here: https://www.amazon.com/Emergent-Mind-Intelligence-Arises-Machines/dp/1541605268Sign up to be notified about new A Book with Legs episodes: https://hubs.ly/Q0452Lh70
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Jason Bardi - The Great Math War: How Three Brilliant Minds Fought for the Foundations of Mathematics
Apr 601:19:39Summary readyWhat happens when brilliant minds disagree not just on answers, but on the very rules of how answers can be found? These questions are addressed in the latest episode of A Book with Legs, where Smead Capital Management CEO and Portfolio Manager Cole Smead is joined by journalist and author Jason Socrates Bardi to discuss his book, "The Great Math War: How Three Brilliant Minds Fought for the Foundations of Mathematics."Cole and Jason trace the historical and intellectual battle between mathematical titans David Hilbert, who saw mathematics as a game with strict rules, and L.E.J. Brouwer, whose concept of intuitionism rejected many classical methods. They also discuss how these mental frameworks can be considered when investing and interpreting data.Sign up to be notified about new A Book with Legs episodes: https://hubs.ly/Q0452Lh70
SummaryThe Smead Book List - Spring Book List
Mar 3001:05:47Summary readyWhat is the Smead Capital Management team reading, and what’s up next?In this new quarterly ‘book list’ episode, value investors Bill and Cole Smead discuss memorable takeaways from books they have recently read, covering topics from financial crashes and speculative manias to genetics, technology and human behavior. They also discuss what they’re currently reading and preview what’s next on their list, while offering perspectives on today’s current market questions, including energy, housing, and where opportunities may lie next.Sign up to be notified about new A Book with Legs episodes: https://hubs.ly/Q0452Lh70
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Kathryn Paige Harden - Original Sin: On The Genetics of Vice, The Problem of Blame, And the Future of Forgiveness
Mar 1601:25:45Summary readyHow much of our temperament and behavior is passed through DNA, and how do we punish those whose behavior may be shaped by genetic forces outside of their control?These concepts are explored in the latest episode of A Book with Legs, where Smead Capital Management CEO and Portfolio Manager Cole Smead is joined by professor, scientist, and author Kathryn Paige Harden to discuss her book, “Original Sin: On the Genetics of Vice, the Problem of Blame, and the Future of Forgiveness.” Cole and Kathryn discuss the ideas of right, wrong, and sin, and how much our genetics are to blame for our actions. The two also analyze findings from studies led by Paige and the mental frameworks of some of history’s greatest theological minds to guide their discussionHarden is a professor of psychology at the University of Texas, where she directs the Developmental Behavior Genetics lab. She conducts research on how genes and environments combine to shape children's mental and physical health. She is the author of over 150 scientific publications and two books: The Genetic Lottery and Original Sin. Purchase a copy of “Original Sin: On the Genetics of Vice, the Problem of Blame, and the Future of Forgiveness” here: https://www.penguinrandomhouse.com/books/714593/original-sin-by-kathryn-paige-harden/Sign up to be notified about new A Book with Legs episodes: https://hubs.ly/Q0452Lh70
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Tom Griffiths - Laws of Thought: The Quest for a Mathematical Theory of the Mind
Mar 201:24:07Summary readyWhat is the divine, and what can the distinctions between AI learning and human cognition reveal about it?These concepts are explored in the latest episode of A Book with Legs, where value investor Cole Smead, CEO and Portfolio Manager of Smead Capital Management, is joined by author and professor Tom Griffiths to discuss his book, “The Laws of Thought: The Quest for a Mathematical Theory of the Mind.” The two discuss the history of attempts to understand human behavior through a mathematical lens and engage in thought-provoking conversation on the differences between machine and human learning.Griffiths is the Henry R. Luce Professor of Information Technology, Consciousness, and Culture in the Department of Psychology and Computer Science at Princeton University.Purchase a copy of The Laws of Thought: The Quest for a Mathematical Theory of the Mind here: https://us.macmillan.com/books/9781250358356/thelawsofthought/ Sign up to be notified about new A Book with Legs episodes: https://hubs.ly/Q0452V800
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Amy Gamerman - The Crazies
Feb 1601:10:28Summary readyHow much trouble could a wind farm cause? Turns out, a lot. When Rick Jarrett decided to capitalize on strong gusts around his land in Big Timber, Montana, the prospect of a wind farm in the shadow of the Crazy Mountains upset hyper-wealthy neighbors who were more concerned about property aesthetics than multi-generation locals looking to make a living. It also caught the attention of Crow Tribe activists, for whom the Crazy Mountains held deep cultural significance.In this week's episode of A Book with Legs Smead Capital Management CEO and Portfolio Manager Cole Smead is joined by Amy Gamerman, author of “The Crazies: The Cattleman, the Wind Prospector, and a War Out West." Gamerman has written about real estate and culture for The Wall Street Journal for more than two decades. Her work has earned multiple awards from the National Association of Real Estate Editors and has appeared in Vogue, Redbook, and Departures. She attended Yale University and King’s College, Cambridge.
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Tim Wu - The Age of Extraction
Feb 201:02:13Summary readySmead Capital Management Chairman and CIO Bill Smead and CEO and Portfolio Manager Cole Smead sat down with author and Columbia Law School professor Tim Wu for a special live taping of the A Book with Legs podcast at today’s Smead Investor Oasis. The three discuss Tim’s new book, titled “The Age of Extraction.”The book unpacks one of the defining challenges of our time—the growing power of tech platforms. In this live episode, they explore the benefits and risks of that power, and what it will take to reclaim control and restore balance to the economy. Keep an eye out for a recording of the live episode, which will be posted today.
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Kenneth R. Rosen - Polar War
Jan 1901:12:46Summary readyIn this episode, learn how today’s geopolitics, climate change, and key happenings in the Arctic affect people and countries around the globe. The Arctic plays a complex role on the world stage, impacting everything from Russian national identity to shipping routes and military aspirations. Understanding these themes requires a comprehensive look at Arctic history, its exploration, and why it’s considered an important territory for major world powers.Smead Capital Management CEO and Portfolio Manager Cole Smead is joined by Kenneth R. Rosen, author of “Polar War: Submarines, Spies, and the Struggle for Power in a Melting Arctic." Rosen is the recipient of the Kurt Schork Award for his reporting from Ukraine, Syria, and Malta, and has been featured in The New Yorker, The New York Times, and The Atlantic, among other publications.
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Trent Preszler - Evergreen
Jan 501:10:35Summary readyIn this episode, learn about how evergreen trees have uniquely shaped America as we know it today, impacting how we build our homes, celebrate holidays, and more. In fact, the American Revolutionary War might have really started with the Pine Tree Riot, which happened a year before the Boston Tea Party! Smead Capital Management CEO and Portfolio Manager Cole Smead is joined by Trent Preszler, author of “Evergreen: The Trees That Shaped America.” Trent is also a professor of practice in the Dyson School of Applied Economics and Management at Cornell University and serves as director of the Henry David Thoreau Foundation's Planetary Solutions Initiative. To hear more, check out the full episode!
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