A Book with Legs

Smead Capital Management
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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.

  1. Justin Baer - House of Fidelity

    8 HR AGO

    Justin Baer - House of Fidelity

    How did one family build Fidelity into one of the most powerful forces in American investing, and what allowed it to endure across three generations? In the latest episode of A Book with Legs, Smead Capital Management CEO and Portfolio Manager Cole Smead and Analyst Will Keenan sit down with journalist and author Justin Baer to discuss his book, titled "House of Fidelity: The Rise of the Johnson Dynasty and the Company That Changed American Investing." Cole and Will explore the 80-year rise of Fidelity with Justin, tracing three generations of the Johnson family and the various investing styles of Fidelity leadership throughout the years. They also discuss the closed-door battles that shaped the firm's direction, the rise and legacy of Peter Lynch, and what this story tells us about active management businesses that last. Justin Baer is an award-winning journalist and an editor for The Wall Street Journal. In a career that includes stints at the Financial Times and Bloomberg News, he has covered almost every significant financial event over the past two decades, including the dot-com bubble, the 2008 financial crisis and the economic fallout from the pandemic. Along the way, Baer has chronicled the ups and downs of such major institutions as Goldman Sachs, J.P. Morgan Chase, Citigroup and Warren Buffett’s Berkshire Hathaway. Purchase “House of Fidelity: The Rise of the Johnson Dynasty and the Company That Changed American Investing” here: https://www.hachettebookgroup.com/titles/justin-baer/house-of-fidelity/9781538766958/ Sign up to be notified about new A Book with Legs episodes: https://hubs.ly/Q0452Lh70

    1hr 20min
  2. Andrew Seth Meyer: To Rule All Under Heaven

    4 MAY

    Andrew Seth Meyer: To Rule All Under Heaven

    What 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

    1hr 17min
  3. Gaurav Suri - The Emergent Mind: How Intelligence Arises in People and Machines

    20 APR

    Gaurav Suri - The Emergent Mind: How Intelligence Arises in People and Machines

    What 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/1541605268 Sign up to be notified about new A Book with Legs episodes: https://hubs.ly/Q0452Lh70

    1hr 5min
  4. Jason Bardi - The Great Math War: How Three Brilliant Minds Fought for the Foundations of Mathematics

    6 APR

    Jason Bardi - The Great Math War: How Three Brilliant Minds Fought for the Foundations of Mathematics

    What 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

    1hr 20min

  5. 30 MAR

    The Smead Book List - Spring Book List

    What 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

    1hr 6min
  6. Kathryn Paige Harden - Original Sin: On The Genetics of Vice, The Problem of Blame, And the Future of Forgiveness

    16 MAR

    Kathryn Paige Harden - Original Sin: On The Genetics of Vice, The Problem of Blame, And the Future of Forgiveness

    How 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 discussion Harden 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

    1hr 26min
  7. Tom Griffiths - Laws of Thought: The Quest for a Mathematical Theory of the Mind

    2 MAR

    Tom Griffiths - Laws of Thought: The Quest for a Mathematical Theory of the Mind

    What 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

    1hr 24min
  8. Amy Gamerman - The Crazies

    16 FEB

    Amy Gamerman - The Crazies

    How 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.

    1hr 10min
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About

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.

Information

  • Creator
    Smead Capital Management
  • Years Active
    2022 - 2026
  • Episodes
    125
  • Rating
    Clean
  • Copyright
    © Copyright 2026 Smead Capital Management
  • Show Website
    A Book with Legs

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