184. Bill Brewster: From "Junk" to Quality

Bill Brewster, host of The Business Brew, joins us for a candid conversation about the mental toll of stock picking and his evolution from "cigar butt" value investing to quality compounders. We dive deep into his sharp criticism of Disney CEO Bob Iger, debate whether Berkshire Hathaway is facing a "conglomerate discount" after its recent management shakeup, and discuss why sometimes the best investing strategy is simply admitting you might be the "dumbest person in the room." 00:24 Introducing the Guest: Bill Brewster 00:50 Bill's Investment Philosophy 04:05 Frameworks vs. Rules in Investing 06:59 Evolving as an Investor 11:01 David Gardner's Influence 18:18 Goals vs. Incentives in Investing 24:03 Building a Robust Investing Framework 24:27 Traits of Quality Enterprises 26:18 Economic Moats and Management Insights 27:45 Disney's Leadership and Strategic Shifts 32:58 Berkshire Hathaway's Future Leadership Companies mentioned: BN, BRK.B, CLPT, COST, DIS, FAST, GIS, JPM, MCD, MELI, NFLX, OLN, OXY, PM, SHOP, WBD, WMT ***************************************** Check out The Business Brew: https://www.thebusinessbrew.com/ ***************************************** Join our Patreon Subscribe to our portfolio on Savvy Trader  ***************************************** Email: investingunscripted@gmail.com Twitter: @InvestingPod Check out our YouTube channel for more content:  ****************************************** To get 15% off any paid plan at fiscal.ai, visit https://fiscal.ai/unscripted ****************************************** Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube ****************************************** The Smattering Six 2025 Portfolio Contest 2024 Portfolio Contest 2023 Portfolio Contest