Art of Investing Colossus | Investing & Business Podcasts

Today’s teachers are Drue Tranquill and Joe Schmidt, two of our very best former students. You'll hear about Drue’s improbable run to becoming Super Bowl champion with the Kansas City Chiefs and get to know Joe, a former walk-on at Notre Dame turned team MVP who went on to become a venture capitalist at Excel and now Andreessen Horowitz. 
Stepping back, we're just in awe of the way Joe and Drue embrace life with a sense of joy that is so infectious to all those around them. We think this joyful attitude might actually be the key to their extraordinary success so early in their careers. In fact, reflecting on the conversation we had with them, the old proverb came to mind about the student becoming the master.
We think after listening, you'll agree that this is absolutely the case. Please enjoy our conversation with Joe Schmidt and Drue Tranquill.

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For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Summus. Summus is a revolutionary health benefits solution, driving superior employee engagement while dramatically lowering your company's enterprise-level healthcare spend. They're completely transforming the world of health benefits by providing employers and their employees in any location, fast access to over 5,100 of the top medical specialists from America's very best medical centers for support across all health questions. If you're looking for a benefit that drives your employee engagement, truly takes care of your people in their most scary and vulnerable times, all while improving your healthcare ROI, visit GoSummus.info/AOI.
This episode is brought to you by Hunt Club. Hunt Club unlocks relationships and helps companies grow. Whether it's recruiting your next hire, landing your next big partner, or financing your business, a trusted introduction always works more effectively. Hunt Club’s tech-enabled search model leverages the largest community of its kind to refer amazing talent on your behalf. Additionally, its software program, Atlas, helps organize the entire network of a company or fund and assists in streamlining the right introductions. If you're looking for the ideal solution for all of your talent needs, visit HuntClub.com/AOI.
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Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit joincolossus.com/episodes. 
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to the Art of Investing
(00:04:18) The Journey to Super Bowl Glory
(00:07:43) From Setbacks to Super Bowls: The Power of Resilience
(00:11:25) Drue and Joe’s Paths to Notre Dame
(00:16:38) Career Aspirations Beyond the Field
(00:25:35) Joe Schmidt's Venture into Venture Capital
(00:36:13) A Holistic Approach to Identifying Priorities
(00:40:10) Behind The Scenes of An NFL Dynasty
(00:45:29) Navigating Change and Embracing Growth
(00:50:48) Playing to Your Strengths And Becoming Irreplaceable 
(01:00:54) Life Beyond the Game: Preparing for the Next Chapter
(01:09:23) How Will You Want Your Life to Be Measured?

Our teacher today is Chris Hansen, founder of Long Short Equity investor, Valiant Capital. Chris spun off from his early career at Blue Ridge to start Valiant and pursue his own unique investment thesis.
We cover Chris's foray into investing in India, the training, temperament, and overall constitution of a great short seller, and building something that increases your odds of long-term flourishing. He shares his empathetic outlook and the candid behind-the-scenes of short selling. His wisdom and risk tolerance have worked in harmony to help create his recipe for success. Please enjoy this class with Chris Hansen.


For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Summus. Summus is a revolutionary health benefits solution, driving superior employee engagement while dramatically lowering your company's enterprise-level healthcare spend. They're completely transforming the world of health benefits by providing employers and their employees in any location, fast access to over 5,100 of the top medical specialists from America's very best medical centers for support across all health questions. If you're looking for a benefit that drives your employee engagement, truly takes care of your people in their most scary and vulnerable times, all while improving your healthcare ROI, visit GoSummus.info/AOI.
This episode is brought to you by Hunt Club. Hunt Club unlocks relationships and helps companies grow. Whether it's recruiting your next hire, landing your next big partner, or financing your business, a trusted introduction always works more effectively. Hunt Club’s tech-enabled search model leverages the largest community of its kind to refer amazing talent on your behalf. Additionally, its software program, Atlas, helps organize the entire network of a company or fund and assists in streamlining the right introductions. If you're looking for the ideal solution for all of your talent needs, visit HuntClub.com/AOI.
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Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit joincolossus.com/episodes. 
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to The Art of Investing
(00:04:33) The Journey from Blue Ridge to Valiant Capital
(00:10:16) The Power of Empathy in Investing and Beyond
(00:11:41) An Unconventional Path to Becoming an Investor
(00:16:09) The Evolution of Equity and Fixed Income Investing
(00:26:27) The Art and Challenge of Short Selling
(00:36:59) Unraveling the Complexities of Short Selling
(00:43:34) Exploring the Investment Landscape of India
(00:51:10) The Cultural and Economic Factors Influencing Indian Investments
(00:53:43) The Resilience and Challenges of Emerging Markets
(00:58:34) The Evolution of Investing in Privates and Navigating Market Shifts
(01:05:53) Valiant's Founding Vision and Building a Unique Investment Firm
(01:10:53) Recognizing the Need to Pivot
(01:21:22) The Recipe for Valiant's Unique Longevity
(01:25:29) Building Flexibility Into the Fabric of Your Firm

Our teacher today is John Crowley. It is difficult to appropriately describe John and the Crowley family's story without drawing comparisons to superheroes. Harrison Ford gave it a shot, and the result is Extraordinary Measures, a blockbuster movie he starred in, alongside Brendan Fraser and Kerry Russell.
The movie is based on Gita Anand's book The Cure, which tells the story of John and his wife's journey to save two of their children from a then-untreatable disease called Pompe. Thanks to John, that's no longer the case, and now more than 20 years later, both of his children and many others with Pompe are not only still living, but thriving.
Since that time, John's gone on to build several successful biotech companies, including Amicus Therapeutics and Novozyme. And just a few days before the release of this class, it was announced that John is now the new CEO of Biotechnology Innovation Organization, or BIO, which is the leading biotech advocacy, education, and policy organization in the world.
There's nobody more purpose-built to give us a history lesson on the biotech industry. Please enjoy this class with the incredible John Crowley.


For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Summus. Summus is a revolutionary health benefits solution, driving superior employee engagement while dramatically lowering your company's enterprise-level healthcare spend. They're completely transforming the world of health benefits by providing employers and their employees in any location, fast access to over 5,100 of the top medical specialists from America's very best medical centers for support across all health questions. If you're looking for a benefit that drives your employee engagement, truly takes care of your people in their most scary and vulnerable times, all while improving your healthcare ROI, visit GoSummus.info/AOI.
This episode is brought to you by Hunt Club. Hunt Club unlocks relationships and helps companies grow. Whether it's recruiting your next hire, landing your next big partner, or financing your business, a trusted introduction always works more effectively. Hunt Club’s tech-enabled search model leverages the largest community of its kind to refer amazing talent on your behalf. Additionally, its software program, Atlas, helps organize the entire network of a company or fund and assists in streamlining the right introductions. If you're looking for the ideal solution for all of your talent needs, visit HuntClub.com/AOI.
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Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit joincolossus.com/episodes. 
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to the Art of Investing
(00:05:09) First Question - The Young John Crowley 
(00:09:53) An Educational Odyssey - Naval Academy to Harvard
(00:12:40) Embracing Challenges and Pivots in Life
(00:16:00) The Crowley's Battle with Pompe Disease
(00:23:59) The Biotech Industry's Evolution at the Turn of the Century
(00:26:02) The Promise and Challenges of Gene Therapy
(00:30:54) The Journey of Starting a Biotech Company: From Novozyme to Amicus
(00:32:55) The Challenges and Triumphs of Drug Discovery and Commercialization
(00:38:12) Advice for Aspiring Biotech Investors
(00:42:26) The Ambitious Vision of Amicus
(00:48:10) Acquiring New Technologies and Overcoming Financial Hurdles
(00:54:19) John’s Personal Triumphs Amidst Professional Challenges
(01:02:08) Megan Crowley's Journey and Family Pride
(01:14:07) The Current State and Future of Biotechnology
(01:21:28) The Impact of M&A in Biotech and Pharma
(01:29:11) Leadership Lessons from the Frontlines of Biotech
(01:34:32) Balancing Life, Duty, and Passion
(01:36:09) Reflecting on Legacy and Purpose

Our teachers today are Daniel Eisen and Paul Yancich, co-founders of Arcadea Group. Arcadea is a private market, long-duration investor building a permanent home for high-quality, vertical market software companies. 
Today, we sit down with an example of next-generation talent in Daniel and Paul, who began Arcadea after having the rare opportunity to learn and sit at the feet of Mark Leonard and the remarkable core team of Constellation Software. In this session, we learn about the attractive opportunity in vertical market software and the structural advantages of pursuing this particular opportunity with permanent capital. They've built Arcadea in a way that both honors their past while successfully layering on their own unique ethos. Please enjoy our class with the impressive and inspiring Daniel Eisen and Paul Yancich.

For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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This episode is brought to you by Summus. Summus is a revolutionary health benefits solution, driving superior employee engagement while dramatically lowering your company's enterprise-level healthcare spend. They're completely transforming the world of health benefits by providing employers and their employees in any location, fast access to over 5,100 of the top medical specialists from America's very best medical centers for support across all health questions. If you're looking for a benefit that drives your employee engagement, truly takes care of your people in their most scary and vulnerable times, all while improving your healthcare ROI, visit GoSummus.info/AOI.
This episode is brought to you by Hunt Club. Hunt Club unlocks relationships and helps companies grow. Whether it's recruiting your next hire, landing your next big partner, or financing your business, a trusted introduction always works more effectively. Hunt Club’s tech-enabled search model leverages the largest community of its kind to refer amazing talent on your behalf. Additionally, its software program, Atlas, helps organize the entire network of a company or fund and assists in streamlining the right introductions. If you're looking for the ideal solution for all of your talent needs, visit HuntClub.com/AOI.
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Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit joincolossus.com/episodes. 
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @ArtofInvest | @Buhrman_Rick | @PaulBuser | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).
Show Notes
(00:00:00) Welcome to the Art of Investing
(00:04:19) First Question - The Success of Constellation Software
(00:14:58) The Role of Incentives in Business Success
(00:18:37) Paul’s Personal Background and Career Path
(00:21:48) The Journey to Success: Overcoming Obstacles
(00:25:35) The Importance of Operating Roles in Business
(00:29:41) Breaking into Finance with a Religious Studies Major
(00:33:22) Working with Mark Leonard
(00:40:10) The Birth of Arcadea
(00:43:11) Influences On the Vision For Arcadea
(00:44:19) The Concept of Renter vs Owner in Business
(00:44:59) The Influence of 'The Hard Thing About Hard Things'
(00:47:58) The Decision to Start Arcadea and the Importance of Partnership
(00:55:52) The Structure of Arcadea as a Company, Not a Fund
(01:01:29) The Importance of Long-Term Ownership and Growth Orientation
(01:06:16) Reflecting on the Early Years of Arcadea
(01:12:01) Positioning Against Venture-Backed Companies
(01:17:22) Building a Shareholder Base
(01:30:49) The Future of Vertical Software

Our teacher today is Katie Koch. Katie is the President and CEO of the TCW Group, a storied firm with over $200 billion in assets under management and a fascinating 50-year legacy as a pioneer in the investment industry. Katie just took the TCW reins in 2023 after more than 20 years at Goldman Sachs. She joined Goldman right after college as the self-proclaimed least capable person in the firm and rose to become chief investment officer of their 300-billion-dollar public equity business. 
Katie has been a champion for expanding opportunities for students, and one initiative in particular is the Women's Investing Summit, which has become the preeminent all-female-led investing conference in higher education. With the sixth annual Women's Investing Summit on February 29th, we thought it would be fun to have Katie join us in the classroom to unpack her remarkable career. Please enjoy our class with the wonderful force multiplier, Katie Koch.

Learn more about the Women’s Investing Summit. 

For the full show notes, transcript, and links to mentioned content, check out the episode page here.

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This episode is brought to you by Summus. Summus is a revolutionary health benefits solution, driving superior employee engagement while dramatically lowering your company's enterprise-level healthcare spend. They're completely transforming the world of health benefits by providing employers and their employees in any location, fast access to over 5,100 of the top medical specialists from America's very best medical centers for support across all health questions. If you're looking for a benefit that drives your employee engagement, truly takes care of your people in their most scary and vulnerable times, all while improving your healthcare ROI, visit GoSummus.info/AOI.

This episode is brought to you by Hunt Club. Hunt Club unlocks relationships and helps companies grow. Whether it's recruiting your next hire, landing your next big partner, or financing your business, a trusted introduction always works more effectively. Hunt Club’s tech-enabled search model leverages the largest community of its kind to refer amazing talent on your behalf. Additionally, its software program, Atlas, helps organize the entire network of a company or fund and assists in streamlining the right introductions. If you're looking for the ideal solution for all of your talent needs, visit HuntClub.com/AOI.
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Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit joincolossus.com/episodes. 
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.

Follow us on Twitter: @ArtofInvest | @Buhrman_Rick | @PaulBuser | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes
(00:00:00) Welcome to Art of Investing
(00:02:38) First Question - ‘What Choice Would You Make If You Knew You Would Not Fail?’
(00:05:00) Katie's Childhood and Lessons from Parents
(00:13:24) Her Experience at the University of Notre Dame
(00:24:15) Katie's 20-Year Career at Goldman Sachs
(00:36:16) The Importance of Mentorship and Sponsorship
(00:41:18) Building Meaningful Relationships for Career Growth
(00:43:24) The Transition from Goldman to TCW
(00:48:15) The Importance of Humility and Collaboration in Leadership
(01:01:35) The Significance of Diversity in Investment Firms
(01:07:30) The Role of a CEO and Building a Successful Team
(01:10:42) Transitioning from Investor to Operational Leadership
(01:12:06) Differentiating an Investment Organization
(01:15:59) Balancing Family and Career
(01:22:24) Debrief From Patty Brady on the Women's Investing Summit

Today’s teacher is Oliver Thomas, founder and managing partner of Expedition Growth Capital. Expedition is a leading growth equity firm based in London, built to serve the next generation of capital-efficient, founder-led European software companies. Oli shares what it takes to win as an investor in this fascinating and attractive small corner of the market.
This class is jam-packed with colorful stories, insightful career advice and a history on the bootstrap growth investing landscape that goes all the way back to the late '70s. Oli describes the archetype of bootstrap software companies and their elements of differentiation versus VC-backed peers, which tend to be better funded but more fragile due to capital dependency. Please enjoy our class with Oliver Thomas.

For the full show notes, transcript, and links to mentioned content, check out the episode page here.

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This episode is brought to you by Summus. Summus is a revolutionary health benefits solution, driving superior employee engagement while dramatically lowering your company's enterprise-level healthcare spend. They're completely transforming the world of health benefits by providing employers and their employees in any location, fast access to over 5,100 of the top medical specialists from America's very best medical centers for support across all health questions. If you're looking for a benefit that drives your employee engagement, truly takes care of your people in their most scary and vulnerable times, all while improving your healthcare ROI, visit GoSummus.info/AOI.

This episode is brought to you by Hunt Club. Hunt Club unlocks relationships and helps companies grow. Whether it's recruiting your next hire, landing your next big partner, or financing your business, a trusted introduction always works more effectively. Hunt Club’s tech-enabled search model leverages the largest community of its kind to refer amazing talent on your behalf. Additionally, its software program, Atlas, helps organize the entire network of a company or fund and assists in streamlining the right introductions. If you're looking for the ideal solution for all of your talent needs, visit HuntClub.com/AOI.
-----
Art of Investing is a property of Pine Grove Studios in collaboration with Colossus, LLC. For more episodes of Art of Investing, visit joincolossus.com/episodes. 
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.

Follow us on Twitter: @ArtofInvest | @Buhrman_Rick | @PaulBuser | @JoinColossus
Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).


Show Notes
(00:00:00) Welcome to Art of Investing
(00:04:00) First question - Reflecting on an upbringing in Wales
(00:12:33) The impact of sports during early years
(00:18:33) Finding motivation and drive at a young age
(00:24:09) Gaining insights into growth equity
(00:23:44) Tracing the evolution of bootstrap investing
(00:36:26) Key elements of successful bootstrap investing
(00:47:37) Examining the 'likability factor' in equity capital
(00:51:58) Introducing Expedition and its practices  
(00:59:25) Offering guidance for establishing an investment firm
(01:03:33) Highlighting favorite bootstrap companies collaborated with
(01:12:21) Exploring AI's role in bootstrapped companies
(01:16:11) Recommending inspirational resources