Kyler Hasson - Playing His Game

Kyler Hasson ([email protected]) stops by The Business Brew to discuss how he has morphed as an investor and as a Registered Investment Advisor.  Kyler is one of Bill's good friends and they've chatted about investments for a number of years now.  Kyler is an investor that has gravitated to high quality businesses.  He has also gravitated towards a less concentrated portfolio in order to fulfill client objectives.  We hope you enjoy listening to the two of them sharing lessons they've learned.

We hope you enjoy the discussion.  Detailed show notes below the Koyfin sponsor and thank yous.

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This episode is brought to you by Koyfin, one of the fastest-growing platforms for financial data and analytics to research stocks and understand market trends. Check out Koyfin.com to see what a Bloomberg-lite, with tons of high-quality fundamental data and a powerful graph engine looks like.

Album art photo taken by Mike Ando.  Please see https://www.mikeando.com/

Thank you to Mathew Passy for the podcast production.  You can find Mathew at @MathewPassy on Twitter or at thepodcastconsultant.com

In this episode you will learn how Kyler and Bill think about:

1:35 - How Kyler started his investing career

4:22 - How Kyler views being an RIA (Registered Investment Advisor)

7:17 - Tax drag and how that can hurt investment performance

11:04 - Why finding a great business that can compound returns over time may be a better strategy

15:00 - Mean reversion and risk

 

18:49 - Moving towards a more diversified portfolio and avoiding overconfidence bias

24:49 - Whether investors *really* want to be like Charlie Munger.

 

26:02 - A very cool class Kyler took in college

 

30:32 - Why certain tribe of investors talk past each other

 

34:12 - Being aware of behavioral biases

 

36:00 - Lessons from an energy investment

 

40:36 - Lessons from Altice and why demanding execution might have been a better idea

 

42:19 - Looking for high quality companies that sell off for non core reasons

48:00 - Culture compounding as a competitive advantage

52:54 - The individual investor's greatest advantage

56:40 - Buying a new position or adding to an existing position

58:00 - Whether buying "cheap" is harder than owning fairly priced quality companies