BREAKINGWATERS

Bryan O'Carroll
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Your Global Equity Deputy. The conversations, educations and insights your portfolio needs.

Episodes

  1. 15h ago

    The Future is Uncertain with Sean Peche, PM, Ranmore Fund

    Note: This video is for educational and informational purposes only and does not constitute investment advice in any way.Thank you to everyone who joined us for the Expert-in-Conversation session, The Future is Uncertain, with Sean Peche!Sean is the Portfolio Manager and Founder of the Ranmore Global Equity Fund, which has consistently been one of the leading global equity funds available to investors since 2008, beating peers and the benchmark across the board. Even more remarkably, Sean is a dedicated value investor and has not relied on the “Magnificent Seven” or other tech stocks to power his outperformance. Any investor will benefit from listening to someone with Sean’s experience and insights.Sean’s investment career began in South Africa in 1997 when he joined Old Mutual Asset Management as an equity analyst. In 1999, he joined Decillion Capital as a founding member and co-managed the successful BigRock Fund, a South African-based hedge fund. He relocated to London in 2001 with Decillion Fund Management to co-manage a US/European hedge fund. In 2003, he joined London-based Orbis Investment Advisory before leaving in 2008 to establish Ranmore Fund Management Ltd.The running order is below. Enjoy!0:00 | South Africa to London5:03 | Launching Ranmore5:55 | Absolute Returns Style9:44 | Decillion to Orbis12:31 | Breaking Down the Price14:55 | A 2008 Launch24:26 | No Private Jets28:08 | Shongololo30:37 | Allocation Limit34:10 | 25% in China vs. 72% in US35:30 | Passive Bubble42:00 | Macro at Ranmore?46:05 | Has the Investment Process Changed?48:45 | Managing Business Growth54:09 | Why Those Names?1:00:55 | There Shouldn’t be a China DiscountUpcoming Sessions - all in UKT:Weds 14 Oct 2026 1:00pm | EiC | Andrew Hollingworth, PM Holland Advisors Global EquityFri 23 Oct 2026 11:00am | EiC| William Lough, PM Otus Capital Global Small CapsFri 6 Nov 2026 2:00pm | Books | Brett Gardner, Author Buffett’s Early Investments

  2. Sep 28

    When Chaos Breaks Out, Some Men Turn Up and Make Billions (Part 1 of 2)

    Note: This video is for educational and informational purposes only and does not constitute investment advice in any way. Thank you to everyone who joined this session for our July-August book, The World for Sale with Javier Blas, Senior Energy and Commodities Opinion Columnist with Bloomberg.‘ Gripping’ Economist ‘Jaw-dropping’ Sunday Times ‘Riveting’ Financial Times ‘Fascinating’ Reuters We are entering an age of energy crises and food shortages. This book reveals why. Meet the swashbuckling traders who supply the world with energy, food and metal. Their goal: To make billions by buying and selling raw materials - flogging Russian gas to Europe, Saudi oil to America and Congolese metals to Silicon Valley. Their methods: Whatever it takes - whether funnelling cash to Vladimir Putin’s sanction-stricken Kremlin, schmoozing Russian metal oligarchs after the collapse of the Soviet Union, or striking deals with the Libyan rebels at the height of the Arab Spring. These are the commodity traders. You’ve probably never heard of them. But, like it or not, you’re one of their customers. September - October Book If you enjoyed this and would like to join the book club then jump in, it is open to all! We are currently reading Buffett’s Early Investments by Brett Gardner who we will be talking to on November 6th. Further details can be found here.Please subscribe at www.breakingwaters.com or join our WhatsApp channel to get future updates first.

  3. Sep 25

    The Odyssey with Dr. Martine Cuypers

    This summer was an Odyssey summer and BREAKINGWATERS wasn’t spared! For July and August we read Emily Wilson’s translation of the Odyssey, we went to see Christopher Nolan’s movie and then we spoke to Dr. Martine Cuypers, who teaches Greek language and Greco-Roman literature and culture in the Department of Classics at Trinity College Dublin to unpack one of the world’s most enduring and important stories. It was a super fun and hugely interesting conversation where we covered themes such as homecoming, faithfulness, social values, immortality, gender roles and the complicated person in Odysseus. Here is the full recording with a brief intro. Hope you enjoy! September - October Book If you enjoyed this and would like to join the book club then jump in, it is open to all! We are currently reading Buffett’s Early Investments by Brett Gardner who we will be talking to on November 6th. Further details can be found here. Please subscribe at www.breakingwaters.com to get future updates first.

  4. Jul 29

    The Curious Case of Mike Lynch with Katie Prescott Part 2 of 2

    Note: This video is for educational and informational purposes only and does not constitute investment advice in any way. Also available on YouTube and www.breakingwaters.com.Thank you to everyone who joined this session for our June-July book, The Curious Case of Mike Lynch by The Times' Tech Editor, Katie Prescott. In this second part we discuss the HP acquisition, the court cases, the tragic weekend that befell those involved in this story and answered audience questions.British tech billionaire Mike Lynch rose from humble beginnings to sell his company Autonomy for billions, only to find his reputation shattered by one of Silicon Valley's largest fraud cases. After a decade of legal battles and a surprising US exoneration, Lynch's life was tragically cut short when his yacht sank off the coast of Sicily, inexplicably coinciding with the accidental death of his co-defendant. Award-winning journalist Katie Prescott forensically investigates this maverick's extraordinary life and bizarre death, unravelling a high-stakes tale of corporate subterfuge where nothing is quite as it seems.To hear about future sessions, please subscribe at www.breakingwaters.com

  5. Jul 23

    The Curious Case of Mike Lynch with Katie Prescott | Part 1 of 2

    Note: This video is for educational and informational purposes only and does not constitute investment advice in any way. Also available on www.breakingwaters.com and YouTube. Thank you to everyone who joined this session for our June-July book, The Curious Case of Mike Lynch by The Times' Tech Editor, Katie Prescott. British tech billionaire Mike Lynch rose from humble beginnings to sell his company Autonomy for billions, only to find his reputation shattered by one of Silicon Valley's largest fraud cases. After a decade of legal battles and a surprising US exoneration, Lynch's life was tragically cut short when his yacht sank off the coast of Sicily, inexplicably coinciding with the accidental death of his co-defendant. Award-winning journalist Katie Prescott forensically investigates this maverick's extraordinary life and bizarre death, unravelling a high-stakes tale of corporate subterfuge where nothing is quite as it seems. To hear about future sessions, please subscribe at www.breakingwaters.com

  6. Jun 29

    Money Men with Dan McCrum | Part 2 of 2

    Note: This video is for educational and informational purposes only and does not constitute investment advice in any way.Also available on www.breakingwaters.com and YouTube.Thank you to everyone who joined this session for our May book, Money Men by FT Investigative Journalist, Dan McCrum.Are you interested in some German gangsters? was McCrum's first introduction to questions around the rising German tech payments company. That led him on a journey over 6 years from non-existent client offices to surveillance operators following him and others all over London to bribe attempts, threats and connections to several secret service agencies. Ultimately, a disgruntled mother was the key to unlocking it for Dan and the FT.If you missed reading along for May then don’t fret; 📖 From now until July 17th, we will be reading The Curious Case of Mike Lynch: The Improbable Life & Death of a Tech Billionaire by Katie PrescottREGISTER: The Curious Case of Mike Lynch To hear about future sessions, please subscribe at www.breakingwaters.comIf you have any queries or comments, please do not hesitate to reach out bryan@breakingwaters.com.

  7. Jun 19

    Money Men with Dan McCrum | Part 1 of 2

    Note: This video is for educational and informational purposes only and does not constitute investment advice in any way.Also available on www.breakingwaters.com and YouTube.Thank you to everyone who joined this session for our May book, Money Men by FT Investigative Journalist, Dan McCrum.Are you interested in some German gangsters? was McCrum's first introduction to questions around the rising German tech payments company. That led him on a journey over 6 years from non-existent client offices to surveillance operators following him and others all over London to bribe attempts, threats and connections to several secret service agencies. Ultimately, a disgruntled mother was the key to unlocking it for Dan and the FT.If you missed reading along for May then don’t fret; 📖 From now until July 17th, we will be reading The Curious Case of Mike Lynch: The Improbable Life & Death of a Tech Billionaire by Katie PrescottREGISTER: The Curious Case of Mike LynchTo hear about future sessions, please subscribe at www.breakingwaters.comIf you have any queries or comments, please do not hesitate to reach out bryan@breakingwaters.com.

  8. May 15

    BOOM and BUST with authors John Turner and William Quinn

    Note: This video is for educational and informational purposes only and does not constitute investment advice in any way. Also available on breakingwaters.com and Spotify. Thank you to everyone who joined this session for our April book, the FT book of the year, Boom and Bust with the authors John Turner and William Quinn. The authors have dedicated their careers to researching Bubbles and this book brings together some of their foremost thinking. They pick through 10 bubbles from history and analyse the mechanics, the people, and the fallout from each. They land on a framework for recognising bubbles, akin to the heat triangle of fuel, heat and oxygen following a spark, they use Monet/Credit, Speculation and Marketability and they outline how it applies in the bubbles they have chosen. The running order is as follows: 00:00 - 02:55 | Intro02:55 - 05:00 | Spark & Nuance05:00 - 08:31 | Innovative Scots08:31 - 13:04 | Application to Investing13:04 - 15:05 | Author Conversation - Intro15:05 - 16:30 | The Heat Triangle Framework16:30 - 18:28 | Examples of Political Sparks18:28 - 20:02 | Reaching for Yield21:20 - 22:20 | Stages of a bubble22:20 - 23:50 | The right type of bubble23:50 - 25:25 | I want to ride my bicycle….shares25:25 - 27:20 | John Law, not Wellington, defeated Napoleon27:20 - 30:15 | The role and incentive of Journalism30:15 - 31:40 | Gregor McGregor King of Poyais31:40 - 35:19 | Railways, an infrastructure capex bubble35:19 - 40:20 | Bubblier times40:20 - 44:02 | AI - political or technological bubble? I hope you enjoy this session for our BREAKINGWATERS BOOK for April 2026. If you missed reading along for April then don’t fret, 📖 From now until June 12th at BREAKINGWATERS Books, we will be reading Money Men, the true story of Wirecard, the major tech fraud story broken by Financial Times Investigative Journalist, Dan McCrum. 🕵️ 𝗦𝗵𝗼𝗿𝘁 𝘀𝗲𝗹𝗹𝗲𝗿𝘀, 𝘄𝗵𝗶𝘀𝘁𝗹𝗲𝗯𝗹𝗼𝘄𝗲𝗿𝘀, 𝗽𝗼𝗿𝗻𝗼𝗴𝗿𝗮𝗽𝗵𝗲𝗿𝘀, 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗺𝗶𝗹𝗶𝘁𝗶𝗮𝘀, 𝗵𝗮𝗰𝗸𝗲𝗿𝘀, 𝘀𝗽𝗶𝗲𝘀, 𝗳𝗮𝗸𝗲 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝘀, 𝗳𝗮𝗸𝗲 𝗿𝗲𝘃𝗲𝗻𝘂𝗲𝘀, 𝗮𝗻𝗱 𝗲𝘃𝗲𝗻 𝗮 𝗳𝗮𝗸𝗲 𝗱𝗲𝗮𝘁𝗵 - Money Men by Dan McCrum has it all! REGISTER: Money Men Q&A with Author Dan McCrum: https://docs.google.com/forms/d/e/1FAIpQLSel-mrckFupQElMyeUITHRZGXLSo-klL3mEQpedBQf-6TyWUw/viewform?usp=header To hear about future sessions, please subscribe at www.breakingwaters.com. If you have any queries or comments, please do not hesitate to reach out bryan@breakingwaters.com.

  9. Apr 29

    All in....on the UK? with Alyx Wood, CIO, Kernow AM (part 2 of 2)

    Note: This video is for educational and informational purposes only and does not constitute investment advice in any way. Thank you to everyone who joined the third session of the @BREAKINGWATERS Expert-in-Conversation series where we spoke to Alyx Wood, CIO, Kernow AM. After a successful career in investing in the UK, Alyx along with his business partner Ed set out on their own and set up their dedicated UK Long/Short Fund, Kernow AM (Kernow is Cornish for Cornwall) in 2019. Since then they have delivered for their clients and gained a deep understanding of the UK markets. This is the second part of a two part conversation (Part 1 can be here, YouTube or Spotify). The running order is below, enjoy! 0:00 - 2:00 | Why is Tech not Bigger in UK Markets? 2:00 - 4:20 | How much research goes into your shorts and how long do you hold for? 4:20 - 9:40 | Why is the Shareholder Register important to you? 9:40 - 12:20 | Brookfield and Secure Trust Bank 12:20 - 15:00 | UK Housebuilders 15:00 - 17:10 | Metro Bank 17:10 - 21:38 | The Perception of Shorting 21:38 - end | Monzo Bank & Outro I hope you enjoy this second session in our two part conversation. You might also be interested in: a BREAKINGWATERS Books discussion on the 30th of April of our April Book, Boom and Bust where we will be discussing financial bubbles with FT Business Book of the Year winners Professors John Turner and William Quinn. Register here: https://docs.google.com/forms/d/1JU11WzwUZ_k7hE5wU49aaWptdtjVuvGQjUxwzZeQ6SI/edit To hear about future sessions, please subscribe at www.breakingwaters.com If you have any queries or comments, please do not hesitate to reach out bryan@breakingwaters.com.

  10. Apr 22

    All in....on the UK? with Alyx Wood, CIO, Kernow AM

    Note: This video is for educational and informational purposes only and does not constitute investment advice in any way. Also available on YouTube and Substack. Thank you to everyone who joined the third session of the @BREAKINGWATERS Expert-in-Conversation series where we spoke to Alyx Wood, CIO, Kernow AM. After a successful career in investing in the UK, Alyx along with his business partner Ed set out on their own and set up their dedicated UK Long/Short Fund, Kernow AM (Kernow is Cornish for Cornwall) in 2019. Since then they have delivered for their clients and gained a deep understanding of the UK markets. This is the first part of a two part conversation. The running order is below, enjoy! 0:00 - 6:40 | Who are you and how did you get here? 6:40 - 9:36 | What has been your approach to Kernow? 9:36 - 11:15 | How has Performance Been? 11:15 - 16:25 | Is Sentiment on the UK Turning? 16:25 - 19:41 | Anecdotal vs Analytical Evidence 19:41 - 22:30 | How Many Multi-baggers are out there? 22:30 - 24:42 | What are your top ideas? 24:42 - 26:30 | Is the current Energy shock temporary or structural? 26:30 - 28:30 | How Much does the US affect your process? I hope you enjoy this first session in our two part conversation. You might also be interested in: a BREAKINGWATERS Books discussion on the 30th of April of our April Book, Boom and Bust where we will be discussing financial bubbles with FT Business Book of the Year winners Professors John Turner and William Quinn. Register here To hear about future sessions, please subscribe at www.breakingwaters.com If you have any queries or comments, please do not hesitate to reach out bryan@breakingwaters.com.

  • 10 Episodes

About

Your Global Equity Deputy. The conversations, educations and insights your portfolio needs.

Information

  • Creator
    Bryan O'Carroll
  • Years Active
    2026
  • Episodes
    10
  • Rating
    Explicit
  • Copyright
    © Bryan O'Carroll
  • Show Website
    BREAKINGWATERS