Podcasts by Yield on Cost Podcast

055 - Investing Lessons from a $230,000 Blackjack Loss from 2023-08-10T11:00

The 3 major investing lessons from watching a professional blackjack player lose over $230,000.

Inside the Edge Movie

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054 - The 8 Key Lessons from The Intelligent Quality Investor from 2023-07-20T11:00

The Intelligent Quality Investor is a great introductory book to the world of investing in high-quality companies. What to look for and how to evaluate them.

These are the 8 key lessons I...

053 - Halo, Horns, Politics, & Your Portfolio from 2023-07-06T11:00

How the behavioral bias, the Halo and Horns Effect, can harm our portfolios and what we can do to combat it.

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052 - The Next Biotech Gold Rush & How Thermo Fisher Scientific Benefits from 2023-06-15T11:00:18

Cheap DNA sequencing, increased computing power, powerful new gene editing tools, and AI are setting up the third wave of the biotechnology revolution. And it's coming for industrial product...

051 - The Most Misused Warren Buffett Quote from 2023-06-01T11:00:13

Why Warren Buffett's quote about swinging at a fat pitch is his most misinterpreted quote, what he really meant when he said it, and how I find my fat pitch zone.

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050 - The 2 Ways Luxury Goods Companies like LVMH & Hermès Build Barriers to Entry from 2022-07-18T11:00:31

Why have luxury goods companies like Möet Hennessy Louis Vuitton and Hermes been long-term winning companies and stocks?  They create a barrier to entry to competitors through two methods.<...

049 - Could The New York Times (NYT) Become a Dividend Growth Stalwart? from 2022-07-11T11:00:23

The long-term dividend history of the New York Times is atrocious. But when we zoom into the last few years something interesting emerges. A 3-year CAGR of 20% for its quarterly dividend. The gr...

048 - How to Avoid the Investment Trap of Decision Finality from 2022-06-27T11:00:38

Decision finality is when you become more certain about a decision when you can't undo it. You're far more certain your horse will win after you place a bet on it than before. How does decision ...

047 - The Perfect Food! The Perfect Investment? Why we own Domino's Pizza & What Could go Wrong from 2022-06-16T10:00:52

We eat 350 slices of pizza per second in the U.S. A pizza delivery company that feeds our insatiable demand for pizza could be a great investment. We think so and that's why we own Domino's Pizz...

046 - Bottleneck Businesses: Mastercard, American Tower, Visa, Microsoft, and Broadridge Financial from 2022-02-14T12:00

Bottleneck businesses is a framework coined and used by Akre Capital Management. The two exmaples they gave as bottleneck businesses are Mastercard (MA) and American Tower (AMT). Using this fram...

045 - Portfolio Update: Yum Brands, Disney, Domino's Pizza, Starbucks from 2022-01-31T12:00

The recent trades we made so far n the AMM Dividend Growth strategy during the market correction.

• Why Disney & Yum are now sources of cash despite us still liking them
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44 - Essex's Trophy Assets from 2022-01-17T13:00

We like companies with Trophy Assets, hard to replace assets that create high barriers to entry for competitors. Essex property's portfolio of west coast apartment complexes is a trophy asset. I...

043 - Why Do We Overestimate Plane Crashes and Stock Market Crashes from 2022-01-03T12:00

You're afraid of flying and right before you have to get on a plane I ask you how likely is it that your plane will crash? What about stock market crashes? How likely is the market to crash over...

042 - Envy from 2021-12-20T12:00

Where would you rather live

A) in a town with a median income of $25,000 and you make $50,000?

B) in a town with a median income of $200,000 and you make $100,000?

Everythin...

041 - Portfolio Update: Intuit Trades, JNJ Spin-Off, & American Tower's Acquisition from 2021-12-13T12:00

Why we're trimming Intuit in some accounts. What we're planning on doing right now regarding Johnson & Johnson's spin-off plans. And what we think about American Tower's acquisition of CoreS...

040 - Does Visa Count as 1042 Qualified Replacement Property? from 2021-12-07T12:00

Does Visa's common stock pass the security test, the asset test, and the income test to count as 1042 Qualified Replacement Property (QRP)? And can it be included in an ESOP Rollover as part of ...

039 - Portfolio Update: Visa vs Amazon from 2021-11-29T12:00

A tough year for Visa's stock just got a little tougher. Amazon will stop accepting Visa branded credit cards in the UK. What does this mean for our position in Visa? Is its once unassailable bu...

038 - Does Apple Count as 1042 Qualified Replacement Property? from 2021-11-22T12:00

The start of a new series. Does this company pass the asset and income test to count as 1042 Qualified Replacement Property (QRP)? And can it be included in an ESOP Rollover as part of a dividen...

037 - Yield on Cost: How and Why We Focus on Rising Income Streams from 2021-11-15T12:00

The average holding period for stocks continues to shrink hitting an all-time low in the summer of 2020. The cause was every major online brokerage going to zero commission fees and large amount...

036 - Investing Lessons from John Glenn: How to Control Our Emotional State from 2021-11-03T11:00

When we panic we no longer think about the long-term. We make short-term emotional decisions that make us feel good immediately but can harm our long-term goals. Especially with investing. So ho...

035 - Sell Intuit (INTU) Because of the Stadium Indicator? from 2021-10-18T11:00

Adelphia, Worldcom, Enron all went bankrupt after entering stadium naming rights deals. Intuit just announced a stadium naming rights deal with the LA Clippers for their new arena. It will be ca...

034 - Are You a Better Investor Than a Pigeon? from 2021-10-04T11:00

Humans are the smartest animals on this planet so do you think with that big brain of yours that you can beat a pigeon at investing? The answer and the two investing lessons from a light guessin...

033 - When Will Disney Start Paying a Dividend Again? from 2021-09-20T11:00

When will Disney bring back its dividend after eliminating it because of the coronavirus shutdowns? Management finally gave us some clarification in its Q3 2021 earnings call.

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032 - Home Depot (HD): The Trends Driving Future Growth from 2021-09-08T11:00

The major trends that are driving Home Depot's future growth like gains in market share and demographic shifts. The risks to our investment. Are we in another housing bubble? And finally, our es...

031 Portfolio Update: Why We Trimmed Discover Financial Services (DFS) from 2021-06-15T11:00

Why we recently trimmed Discover Financial Services (DFS) in the AMM Dividend Growth Strategy and a new risk that emerged from the increased stimulus and U.S. consumers with a lot of excess cash...

030- Northrop Grumman (NOC): Nuclear Dividend Growth from 2021-06-09T11:00

Breaking down our position in Northrop Grumman (NOC).

• Its emerging Nuclear Triad monopoly


• The immediate risks that we see


• And our estimate of fa...
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029 - Texas Pacific Land (TPL): Oil Royalty Dividend Growth from 2021-05-17T12:00

We're back! Glenn breaks down our position in Texas Pacific Land (TPL). 

• Its unusual history, corporate structure, and dividend
• The catalysts for future price apprec...
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028 - American Tower: 5G Dividend Growth from 2020-12-21T10:00

Lead portfolio manager Glenn Busch breaks down our position in American Tower (AMT)

• The catalysts for future price appreciation and dividend growth
• American Tower's big o...
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027 - Portfolio Update: eBay, Charles Schwab, 2 New Starter Positions, & Disney's Dividend from 2020-12-08T12:00

Glenn breaks down why we sold the rest of our eBay (EBAY) position. The 2 main reasons why we sold our position in Charles Schwab (SCHW). Glenn then reviews our new positioning size rules or new...

026 - Pool Corp: A high Quality Dividend Grower Priced Too High from 2020-11-09T12:00

Pool Corp keeps popping up on our high-quality dividend growth screens so why don't we own it? Glenn breaks down how Pool Corp's builds a business moat with its distributor model, the catalysts ...

025 - A Hidden Monopoly: Broadridge Financial Services from 2020-10-05T16:46:31

Broadridge Financial Services is an important company for the smooth functioning of financial markets. But it's probably a company you don't recognize. Broadridge is a company we've followed for...

024 - Trimming Apple... Again from 2020-09-08T19:22:50

Why we trimmed Apple for a second time this year. How the short-term exuberance in tech stocks and specifically Apple went too far too quickly. How that was reflected in Apple's current P/E rati...

023 - Portfolio Update: Reclassifying eBay & Disney's Yearend Dividend from 2020-08-18T11:00

Glenn discusses why eBay was added to the portfolio and why we are reclassifying it as a source of cash. Glenn also covers how this might change. Then Glenn updates his thoughts on Disney's abil...

022 - The Art of Execution: How to Handle Losing and Winning Positions from 2020-07-22T12:00

Sometimes you read a book that makes you rethink your investment philosophy and/or portfolio management style. The Art of Execution is that type of book. 

Glenn briefly breaks down t...

021 - Hilton or Marriott? Which One Do We Like Better When They Restart Their Dividend from 2020-07-07T18:47:03

We used to own Hilton in our Dividend Growth Strategy. A big reason why we bought Hilton was because of what Marriott did. In this episode, Glenn will explore why we like both companies as asset...

020 - Portfolio Update: Wells Fargo, JP Morgan, and Disney from 2020-06-30T00:52:51

A brief update on Wells Fargo. It was already a source of cash but after the latest capital return guidelines put out by the Federal Reserve we decided to sell any remaining positions in Wells F...

019 - Microsoft's Cloud Computing and SaaS Future from 2020-06-15T10:00

Digging into our archives, Glenn reviews our investment thesis in Microsoft (MSFT). A position since the start of the AMM Dividend Growth Strategy. Glenn discusses how our thesis changed as Micr...

018 - Portfolio Update: Wells Fargo as a Source of Cash from 2020-06-05T14:58:44

We moved Wells Fargo (WFC) to the category "Source of Cash". In this episode, Glenn Busch explains our main 2 reasons why we marked Wells Fargo as a source of cash even though it looks like it i...

017 - Costco: A ROIC Growth Stock from 2020-05-26T22:49:50

A deep dive into our position in Costco. How it's expanding its business moat with its low-cost scale advantage, its customer acquisition flywheel, and why this leads to growing ROIC. I'll also ...

016 - Disney's Suspended Dividend: Recoverable Calamity or Fundamental Change to Business? from 2020-05-11T15:44:54

Disney suspended their upcoming June Dividend. In part from the fallout of the coronavirus on their businesses and in part due to the optics of paying a dividend after furloughing 100,000 worker...

015 - Portfolio Update: Why We Trimmed Microsoft (MSFT) & Costco (COST) from 2020-04-17T22:30:24

Microsoft is a long-term holding of our dividend growth strategy and Costco is a recent addition. So why did we trim both positions during this recent rally after the initial coronavirus sell-of...

014 - Portfolio Update: Why We Sold United Technologies (UTX) from 2020-03-25T17:05:43

United Technologies (UTX) is a dividend aristocrat, a special situation, and the subject of our last podcast. So why did we sell it?

In this episode, Glenn discusses why we sold United Te...

013 - United Technologies (UTX): Spin-offs to Unlock Value from 2020-03-16T21:47:39

United Technologies (UTX) is a dividend aristocrat and a special situation. The company will split into 3 separate companies and then the remaining aerospace company will merge with Raytheon (RT...

012 - Portfolio Update: Managing Corona Virus Risk, Bob Iger Out, Intuit Buys Credit Karma from 2020-03-03T01:13:35

How are we managing our dividend growth portfolio and handling the risks from the Corona Virus (COVID-19)? Bob Iger suddenly steps down from Disney 14 months in on a 36 month extension as CEO. G...

011 - Predicting the Past from 2020-02-16T23:52:40

Howard Marks shows us how good we are at predicting the past and not the future. And in this episode, Glenn discusses how AMM relies on its 5 core principles to invest in an uncertain future and...

010 - Why We're Trimming Apple, Visa, and MasterCard from 2020-02-07T01:27:34

To start 2020 we're trimming a few positions like Apple, Visa, and MasterCard in the AMM Dividend Growth Strategy. In this episode, Glenn explains the portfolio rules that triggered the Visa and...

009 - Why we're avoiding Hennessy Advisors (HNNA) in our Dividend Growth Strategy from 2019-12-30T17:47:46

Glenn discusses why we would avoid investing in Hennessy Advisors (HNNA) or out dividend growth strategy even though it has a high yield and high dividend growth. The goal is to help explain our...

008 - Portfolio Update: eBay sells StubHub & Charles Schwab Gets Bigger from 2019-12-09T18:00:19

In this portfolio update episode, Glenn Busch discusses eBay selling StubHub and the next asset sale and catalyst for realizing eBay's hidden value. Then Glenn goes into detail about Charles Sch...

007 - Lockheed Martin (LMT): A Dividend Growth Stalwart from 2019-10-15T16:47:35

As promised, in this episode Glenn discusses our second time investing in the dividend growth stalwart, Lockheed Martin (LMT). Glenn discusses why we sold Lockheed previously, Lockheed's recent ...

006 - Portfolio Update: 2 New Developments for Charles Schwab (SCHW) from 2019-10-07T17:22:26

Charles Schwab is facing two new developments that require an update episode. In this episode, I'll discuss the new higher interest rate cash accounts at competitors like Wealthfront. Then I'll ...

005 - Portfolio Update: Why We Sold Alcon (ALC) & Anheuser-Busch InBev (BUD) from 2019-09-10T16:21:31

This is a portfolio update episode, lead portfolio manager Glenn Busch discusses why we sold Alcon (ALC) a recent dividend paying spin-off. Glenn also discusses why we sold a long-term position ...

004 - Intuit (INTU): How Intuit is Building an Economic Moat with QuickBooks Online from 2019-08-16T17:26:39

In this episode I discuss our position in Intuit (INTU).  Why we consider it a new dividend payer. Its dividend safety. I then get into the two effects, switching costs and network effects,...

003 - Charles Schwab (SCHW): A New Dividend Payer Riding Two Long Term Secular Growth Trends from 2019-05-28T17:17:47

In this episode we break down our position in Charles Schwab (SCHW) for the AMM Dividend Growth Strategy. I explain why we classify Charles Schwab as a new dividend payer even though it has paid...

002- eBay (EBAY) A New Dividend Payer and a Special Situation Investment from 2019-04-21T15:32:50

eBay is a recent addition to the AMM dividend growth portfolio. eBay just announced a new $0.14 per share quarterly dividend which equates to a 1.47% dividend yield. In this episode, I'll discus...

001 - Starbucks (SBUX) Dividend Growth: Catalysts, Risks, and Fair Value from 2019-03-25T20:35:21

Since 2010 Starbucks (SBUX) has grown its quarterly dividend at a compound annual growth rate of 24.53%!  In this episode we discuss the catalysts that will allow Starbucks to continue to g...