This is Zack Fuss, an investor at Irenic Capital, and today we’re breaking down Vanguard. Vanguard and its founder, Jack Bogle, have ushered in an era of low-cost investment, which has left its mark on the entire industry. Today, the business commands $7.5 trillion of assets under management and owns approximately 8.5% of any given public company in the US. ... Show More
Apr 17
Givaudan: The Magic Ingredients - [Business Breakdowns, EP.242]
Today, we are breaking down Givaudan, the Swiss fragrance and flavor giant hiding in plain sight. I came away from this episode with a new way of seeing the world around me. When you learn that a single company is behind the scent of your shampoo, the taste of your burger, and th ... Show More
41m 20s
Mar 20
Apollo: Connoisseurs of Complexity - [Business Breakdowns, REPLAY]
This episode was originally recorded in March 2025. Today, we are breaking down the global alternative asset manager, Apollo. I reflected on my personal experiences with Apollo for this episode, and there's a saying that hard work can beat talent when talent doesn't work hard. W ... Show More
1h 14m
Apr 2022
Hedge Funds vs ETFs, Passive vs Active, 70s Inflation vs Now, & Commodities vs CTAs with Simplify's Mike Green
What exactly does a chief strategist do? Besides picking fights with Bitcoin HODLers on Twitter… And how exactly does one of the most prominent voices on the dangers of too much passive money trying to fit into a single asset classes on/off ramps, end up at….wait for it….an ETF s ... Show More
1h 17m
May 2022
Aswath Damodaran - Making Sense of the Market - [Invest Like the Best, EP. 279]
My guest today is Aswath Damodaran, a Professor of Finance at NYU’s Stern School of Business. Aswath is one of the clearest teachers of investing and finance in our industry and through his blog, books, and YouTube has open-sourced his wisdom for decades. This conversation is a m ... Show More
1h 57m
Sep 2023
Will England - A Primer on Multi-Strategy Hedge Funds - [Invest Like the Best, EP.342]
My guest today is Will England, the CEO and Co-CIO of Walleye Capital. Walleye is a multi-strategy hedge fund headquartered in Minnesota that manages around $5 billion. Our conversation is a primer on multi-strategy hedge funds, which have become a force in markets through the su ... Show More
1h 21m
Jan 2024
Erik Serrano - Investing in Investment Firms - [Invest Like the Best, EP.358]
My guest today is Erik Serrano. Erik is the CEO of Stable Asset Management, which he started 14 years ago in his early 20s and has scaled to over $3 billion in AUM. Unusually, Stable’s strategy focuses on other investing firms. They look to back the Blackstone's of tomorrow and p ... Show More
1h 27m