The second episode of The Business Brew features Dan McMurtrie, PM at Tyro Partners.  In this episode Dan pulls back the curtain on how a true hedge fund manager thinks.  He discusses:

 

A tough launch (13:20)

Pivoting from "value" investing (17:50)

Agency costs hurting "value" investments (20:35)

Convergent & iterative thinking (32:40)

Risk management and buying higher (44:20)

The dangers of the value investing inoculation (46:50)

THE DATING PAPER (58:00)

Being early on COVID (1:08:00)

TINA + Liquidity Shortages + FOMO (1:22:11)

Businesses as networks of people (1:37:45)

The anointed companies (1:46:00)

Inflection points and when it "gets simple" 1:54:00

When paying more can reduce risk (2:00:00)

 

We are grateful to him for sharing his mind.  Please enjoy the episode.