The Investing for Beginners Podcast - Your Path to Financial Freedom

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In this solo episode, Andrew shares the story behind a major shift: stepping down from actively running the investing newsletter and handing stock picking off to someone he trusts. He explains why he made the change, what he learned from years of stock picking, and what he wishes he understood earlier in the journey.

Andrew frames the episode as “The Life of a Stock Picker,” laying out 10 principles meant to help listeners think clearer, stay persistent through tough markets, and avoid common mental traps. He talks about approaching investing with a clean slate, learning from different strategies without getting dogmatic, and sticking with it when bear markets make you question everything.

Key Topics Covered:


Why Andrew stepped down from active stock picking and newsletter management


Principle 1: Approach investing with a clean slate


Principle 2: Find the good in every strategy (don’t get dogmatic)


Principle 3: Keep going through bear markets and drawdowns


Mastering emotions, avoiding bias, and staying humble enough to ask for help

Timestamps:

01:10 – Why he stepped down and what led to the decision

03:58 – Principle 1: Approach with a clean slate

07:47 – Books as a “life hack”

10:19 – Principle 2: Find the good in every strategy

14:51 – Principle 3: Keep going (bear market lessons)

17:29 – “So much red” and how demoralizing drawdowns feel

20:19 – Don’t sell at the bottom and miss the recovery

24:00 – Principle 5: Seize the day (don’t worship the number)

27:54 – Master your emotions 

32:05 – Quit taking this so seriously

35:19 – Swing for the fences

41:02 – Don’t overthink it (analysis paralysis)

44:25 – Be humble and ask for help

Resources Mentioned

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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Want to help us make the Investing for Beginners Podcast even better? Take our quick listener survey at https://einvestingforbeginners.com/podsurvey and you’ll be entered to win a $500 Amazon gift card next month. Bonus: the first 100 respondents also get free IFB swag.

Andrew and Dave break down three Peter Lynch principles from Beating the Street and how they apply them in real investing decisions. The focus is on avoiding “rearview mirror” thinking, building conviction in great businesses, and finding opportunity where nobody’s paying attention.

They cover examples like Nike and HP (past success doesn’t guarantee future results), Microsoft’s turnaround under Satya Nadella, and the psychology of “averaging up” into winners like Google.

Key Topics Covered


“You can’t see the future through a rearview mirror”


Nike and HP as cautionary examples


Microsoft’s turnaround under Satya Nadella


“The best stock to buy may be the one you already own” (averaging up)


“When even the analysts are bored, it’s time to start buying”

Timestamps

01:29 – Principle 1: rearview mirror thinking

02:13 – Nike (going direct, slowing growth)

06:18 – HP & innovation pressure

11:23 – Microsoft turnaround (Ballmer → Nadella)

15:52 – Principle 2: best stock may be one you own

16:13 – Averaging up & anchoring bias

19:40 – Google (buying again at higher prices)

21:46 – Social media narratives and contrarian thinking

23:57 – Principle 3: buy when analysts are bored

24:21 – Danaher & spinoff return distortion

28:16 – McKesson & boring businesses vs hype

30:33 – More boring winners

Resources Mentioned

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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Want to help us make the Investing for Beginners Podcast even better? Take our quick listener survey at https://einvestingforbeginners.com/podsurvey and you’ll be entered to win a $500 Amazon gift card next month. Bonus: the first 100 respondents also get free IFB swag.

This episode is for educational purposes only and is not legal advice—please consult an attorney for guidance on your specific situation.

In this episode of At Any Rate, Evan Raidt is joined by fan-favorite guest Dave Ahern for a follow-up to AAR31—because trusts are often the bigger, more protective “umbrella” when it comes to estate planning.

They break down what a trust is, how it differs from a will, what probate can look like if you pass away (or become incapacitated) without anything in place, and why this isn’t just about you—it’s about protecting the people who depend on you.

Topics Covered:


Trust vs will: what each one does


What probate is and why it can be a financial disaster for families


Pros/cons of wills and trusts


Revocable vs irrevocable trusts


What can go wrong

Timestamps:

01:55 What is a trust vs a will?

03:58 What happens if you die or become incapacitated without either?

06:28 Probate timelines (and why it can wreck a family financially)

08:46 Pros and cons of a will

10:20 Pros and cons of a trust (and why it can be expensive/complex)

12:23 How trusts control who can access assets (and when)

16:39 Why trusts can include restrictions (age, graduation, etc.)

18:46 Revocable vs irrevocable trusts (core differences)

22:09 Banks can’t give legal advice—start with an attorney

27:50 What can go wrong with a trust (be specific + choose trustees carefully)

Resources Mentioned

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/

Email Evan: [email protected]

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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This episode is a Bird’s Eye View breakdown of GE Vernova (ticker: GEV), a newer standalone company spun out of General Electric. Andrew and Dave walk through what the business is, how it makes money, and why it’s showing up in investor conversations—especially around electrification and power demand.

They cover GE Vernova’s three operating segments and explain why electrification is the most exciting long-run opportunity. The conversation then shifts to the power segment and the AI/data center demand story, including how gas turbines are being positioned as a practical solution for stable, sustained power.

Key Topics Covered:


What GE Vernova is and why it was spun out of GE


The 3 segments


Backlog as a runway indicator


AI/data centers and the demand for sustained electricity


Valuation & execution risk

Timestamps:

00:15 – Bird’s Eye View on GE Vernova (GEV)

01:38 – What is GE Vernova and how does it make money?

02:46 – “Energy to change the world” 

07:07 – $26B and what backlog means

08:12 – Book-to-bill style thinking

09:43 – AI/data centers driving demand for stable power

13:37 – Capacity booked out to 2028 & building more capacity

16:21 – Small modular reactors (SMRs) and why they matter

18:51 – Revenue growth context & profitability trend

24:05 – Balance sheet strength

34:32 – Oracle comparison

35:19 – Other electrification demand drivers

Resources Mentioned

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter

Bird’s Eye View of Brookfield Asset Management (BAM) with Adrian of Stratosphere: https://einvestingforbeginners.com/birds-eye-view-of-brookfield-asset-management-bam-with-adrian-of-stratosphere-podc/

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

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This episode continues the Financials Demystified series with a practical, beginner-friendly breakdown of long-term liabilities on the balance sheet. Dave and Andrew focus on what these line items actually mean, why they matter, and how to use them to understand a company’s real financial risk.

They start with operating lease liabilities, what leases represent, why context matters, and how investors can compare lease obligations to profits, revenue, and even per-store economics. Then they move into tax liabilities, explaining the difference between deferred taxes and longer-term tax obligations (often tied to uncertain tax positions).

Key Topics Covered


Long-term liabilities basics and how they show up on the balance sheet


Operating lease liabilities and how to think about them


Deferred taxes vs long-term tax obligations


Long-term debt and why “laddering” maturities matters


Practical metrics to evaluate liabilities and debt risk

Timestamps

01:44 – Operating lease liabilities explained

04:00 – Putting lease liabilities in context with profits

10:26 – Restaurant metrics: revenue, labor costs, and food costs

13:09 – Deferred taxes and long-term tax liabilities (Microsoft example)

18:42 – Long-term debt “peel the onion” (Danaher example)

20:10 – Debt maturity schedules and why staggered maturities reduce risk

24:49 – What debt details reveal about management and capital allocation

27:33 – ROIC vs cost of capital and why the spread matters

32:49 – Key metrics: debt-to-equity and net debt to EBITDA

35:21 – Quick checks: cash vs total debt and interest coverage ratio

Resources Mentioned

The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/

Have questions or want your story featured? Email the show at [email protected] or comment below. Your feedback shapes the podcast!

Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.

Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Today’s show is sponsored by:

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