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@rainmakerspod

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Creator of the Rainmakers podcast.

Los Angeles
Joined March 2015
Don't wanna be here? Send us removal request.
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@rainmakerspod
Rame
1 month
In 1995 Malcolm Glazer shocked the world by agreeing to buy one of the worst NFL teams in the league for a record price of $192M dollars. His bid was $50M dollars more than the second highest offer. The NFL had questions about how’d he get the money to finance this monumental
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@rainmakerspod
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Sid Bass hired Richard Rainwater to make concentrated investments. After losing all the money the family gave him to manage ($5M), he would go on to develop a style that would transform their $50M into $5B in 16 years.
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@rainmakerspod
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9 months
In February 1988 Richard Rainwater gave a speech to Harvard Business School students on how he achieved career success after working for the Bass family. Here is a the story on his first big deal:
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@rainmakerspod
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9 months
Introducing the Rainmakers podcast. This show is going to be an exploration on the world’s best investors from past and present to see how exactly they made their returns. In this first episode we will study the career of the legendary investor Richard Rainwater.
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@rainmakerspod
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1 month
Thanks for reading! I do case studies on how some of the world’s richest investors made their money. If you’d like to learn more check out my podcast Rainmakers. And if you enjoyed this thread, it would mean the world if you could like and retweet it.
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@rainmakerspod
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2 months
On the whiteboard walls of Rainwater Inc in 1988 came a bold vision: Natural Gas Partners, a fund betting on soaring gas prices. This was one of Rainwater's rare misses. Prices kept falling. Yet NGP became one of Rainwater's best investments, thriving as gas prices continued to
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@rainmakerspod
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4 months
Back from vacation. Went to the beach, couldn't stop thinking about Rainwater. Clearly need therapy. Made another episode instead. Available on your favorite podcast player.
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@rainmakerspod
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7 months
At 31, Donald Bren embarked on a venture that would etch his name in history. With a vision grander than most could dare to dream, he persuaded Southern California's largest landowners to reimagine a sprawling 10,000-acre ranch. This was the birth of Mission Viejo. Bren
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@rainmakerspod
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9 months
I want to give a special shoutout to @turtlebay_io , @sidecarcap , @rhunterh , @themagicbakery , @JSiegel88 , and @richiemashiko for helping me create this series. Listen now: Spotify: Apple:
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@rainmakerspod
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2 months
Richard Rainwater didn't know how to explain his success. Time for me to give it another shot. NGP Part 2 now available on your favorite podcast player.
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@rainmakerspod
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1 month
Malcolm Glazer's path to NFL ownership was paved with bold moves and controversy. Born in 1928 to Lithuanian immigrants in Rochester, NY, Glazer inherited his father's watch repair business at 15 after his father had passed away. He had done well at first with the watch
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@rainmakerspod
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9 months
Hear his journey on becoming an investor with the Bass family and how exactly he compounded their money on episode 1 of Rainmakers out now. Spotify: Apple:
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@rainmakerspod
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This became his first big success: the $8M investment in Idanta became $200M. If you want to hear about Rainwater made other bigger investments listen to the Rainwater series out now: Spotify: Apple:
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@rainmakerspod
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How did Herb Allen become the single largest shareholder in Coca Cola? His bold 1973 investment in a struggling Columbia Pictures kicked off a turbulent yet ultimately lucrative decade. 1973: Allen & Co buys controlling stake in Columbia and installs Alan Hirschfield as
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@rainmakerspod
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In 1964, William F. Dart and his son William A. Dart invented a new method for manufacturing foam cups, which allowed for high-quality production at lower costs. Ken Dart later expanded the family business through successful investments in Salomon Brothers and today is one of
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@rainmakerspod
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1 month
Malcolm Glazer had a career of always paying the highest prices for what he deemed were the best companies. In the process he turned his $192M Bucs gamble into a multi-billion dollar sports empire, including Manchester United. Today, his children run a global sports dynasty,
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@rainmakerspod
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9 months
He began managing Bass family investments and turned their initial $50M into a whopping $5B in 16 years. In the first part of this 3 episode series, we'll delve into Rainwater's journey with the Bass family.
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@rainmakerspod
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9 months
Sid Bass would hire Rainwater because he wanted to go back to the investment methods that his grand uncle Sid Richardson used to make their fortune through “concentrated investing”. Rainwater was given $5 million to invest on his own where he would end up losing all of it.
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@rainmakerspod
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Not only did these moves provide him the cash to pay off the debt for his purchase in the Bucs, it gave his a glimpse into how he made his deals work. He’d make a giant bid for an asset he deemed much more valuable than the market did and once he won the auction for that asset
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@rainmakerspod
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3 months
How to buy a building according to Bill Zeckendorf:
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@rainmakerspod
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9 months
In 1967, Universal Pictures filmed a movie about Red Adair, the legendary oil well firefighter. They needed real footage of Adair in action, leading to a chance encounter with a young Phil Anschutz, setting the stage for Anschutz's billionaire journey. Here's the story:
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@rainmakerspod
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9 months
Today's weather forecast shows an 100% chance of Rainmakers episode 2 being released. In today's episode we will be closing our chapter on Richard Rainwater and will study how he became a self made billionaire. Apple: Spotify:
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@rainmakerspod
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5 months
This graphic underscores how much of a great investment creating AEG was for Phil Anschutz. By owning arenas all around the world he got to not only own the venue, but then got the leverage to own the entire value chain (AXS, coachella, etc.) Now I also understand why he gave
@SleepwellCap
Sleepwell🛌
5 months
Excellent graphic by the @WSJ showing where the money being spent on a concert is going to across the value chain. (varies case by case but this is the general idea for a big act)
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@rainmakerspod
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4 months
How did Donald Bren get the Irvine Company deal? Al Taubman and Charlie Allen were $100M short and couldn't secure financing due to the deal's risk. With Mobil Oil offering the highest cash bid, the Taubman group needed capital. Enter Donald Bren.
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@rainmakerspod
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Malcolm Glazer's corporate raids (1988-1991): Formica Corp: - Launches unsolicited bid - Management rejects, citing financial doubts - Glazer sells stake, netting $3M profit - Files lawsuit post-Formica privatization, alleging $3.4M loss - Federal court dismisses case in
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@rainmakerspod
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6 months
Thursday
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@rainmakerspod
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3 months
I'm Rame Adi and I approve this message
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@rainmakerspod
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9 months
Learn more on how this experience was a catalyst in Anschutz's path to becoming a billionaire in episode 3 of Rainmakers. Apple: Spotify:
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@rainmakerspod
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In the 1970s Glazer accumulated a vast portfolio of real estate along with his holding in the bank. The fortune was sizable by this point but Glazer continued to make jaw dropping bids for other assets. When local cable stations were for sale Glazer would aggressively bid for
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@rainmakerspod
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Glazer continued his high bid and subsequent financing strategy with buying Manchester United and other assets before he died in 2014. While this strategy clearly worked for him and allowed him to amass a sports empire worth billions, his focus on paying off the debts for these
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@rainmakerspod
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Glazer's Bucs purchase initially proved Wall Street right. He borrowed $130M of the $192M price tag, saddling himself with $10M in annual debt payments. But the team was already losing up to $15M a year, Glazer faced a daunting task in making his NFL ownership viable. To pay
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@rainmakerspod
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Earlier in his career it was easier for him to make his acquisitions because sellers were less apprehensive from where he got the money as long as they got the cash. But in the 80s, corporate raiding was rampant and management teams were swarmed with buyout offers so checking
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@rainmakerspod
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11 months
@turtlebay_io @lhamtil @DurableCreators After a good month of researching and then getting in contact with the author I was able to get these books right before she moved and lost all her copies.
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@rainmakerspod
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3 months
How did you know a Rainwater investment worked? When he got his operating partner on the same list as the Basses just 6 years after making the deal.
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@rainmakerspod
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2 months
@FoundersPodcast If you can't DM me, please email me at rainmakerspodcast @gmail .com!
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@rainmakerspod
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27 days
Always a must listen whenever Speedwell releases an episode!
@Speedwell_LLC
Speedwell Research
27 days
🎙️ *New Company Podcast Released* We just dropped our 3+ hour podcast that covers all things CoStar Group $CSGP - Early History - LoopNet & Apartments acquisitions - Residential Push - Real Estate Industry Inner workings - Capital Allocation Enjoy! (link in bio)
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@rainmakerspod
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6 months
Kirk Kerkorian Part 1 Out now on all streaming services!
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@rainmakerspod
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6 months
My friend @45wallst made a great thread a couple years back of old newspaper articles on the Kerkorian story that helped a ton with the episode. If you aren't already following, you should!
@45WallSt
45WallSt
2 years
Kirk Kerkorian
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@rainmakerspod
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This included stripping other businesses of their assets like he did with Zapata. But it also included strict operations where cutting expenses was paramount to paying off the debt for his deals. The outdated Tampa Stadium cost the team $15M annually. To mitigate this cost, he
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@rainmakerspod
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9 months
Rainwater would learn that he was not a great investor and made it his mission to seek out successful investors to learn their methods. This was when Richard Rainwater met David Dunn.
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@rainmakerspod
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While Glazer had been known for his failed buyout bids in the 80s, he found success in the 90s for buying controlling stakes in distressed companies. Glazer had quietly amassed control of Zapata Corp., a struggling oil company in 1992 and then bought a food packing business
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@rainmakerspod
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2 months
The 🐐 is back
@turtlebay_io
Turtle Bay
2 months
An old Joel Greenblatt PA investment: A&F "Abercrombie is not as hot as it used to be, but at just over $14 and with expected earnings of around $1.75 per share this year and $2.25 next, it doesn’t need a super-growth story to justify a large gain." Here's Greenblatt's writeup:
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@rainmakerspod
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Then in 1995 The Tampa Bay Buccaneers hit the market. Glazer makes a record-breaking $192 million bid. The NFL accepts his offer. But questions linger from the outside: Does Glazer really have the money? And more importantly, does he actually want to own the team?
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@patrick_oshag “The reasonable man adapts himself to the world: the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” - George Bernard Shaw
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@rainmakerspod
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By the 1980s, he had built a sizeable fortune through ownership in his bank, 4 TV channels, and other real estate investments. In 1984, Glazer formed First Allied Corporation, setting the stage for a series of high-profile takeover attempts that would shock Wall Street. Glazer's
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@rainmakerspod
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7 months
@themagicbakery @JSiegel88 @heartof_thesea Learning the “how” vs the “what” has been such an eye opening thing for me recently. In all accounts on Rainwater from those who worked with him it was “how” he made his deals that mattered to them. A Rainwater deal wasnt just about getting creative financing and buying a company
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@rainmakerspod
Rame
5 months
It's understated how different great investors had relatively unknown mentors early on in their careers. -Duca learned from Herb Kay -Oberndorf, Bliss, etc learned from Jack McDonald -Druck learned from Speros Drelles h/t @NeckarValue What makes a great mentor?
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@rainmakerspod
Rame
6 months
This is an amazing podcast episode. No better way to start the week
@buhrman_rick
Rick Buhrman
6 months
Our @artofinvest teacher today is Mitch Rales, one of the most iconic business builders and philanthropists of our time. Having cofounded @DanaherCorp 40 years ago alongside his brother and best friend, Steve, the Rales boys have strung together a track record of compounding that
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@rainmakerspod
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8 months
If you would like to read the full transcript please go to my friend @kevg1412 's newsletter in the tweet below.:
@kevg1412
Kevin Gee
8 months
At just 26 years old, Richard Rainwater was given $5mn of the Bass family's fortune. He lost it all. But rather than fire him, they gave him a fresh start. Over the next 15 years, he turned their $50mn fortune into $5bn--and amassed a $100mn fortune for himself. Richard
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@rainmakerspod
Rame
8 months
It’s amazing what long term compounding can lead to. 60+ years of investing with Berkshire Hathaway and Warren Buffett has enabled a monumental $1 billion donation to a medical school, covering tuition for all its students.
@sidecarcap
Sidecar Investor
8 months
Beautiful interview. Lots to learn from what Gottesman saw in Buffett and Berkshire.
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@rainmakerspod
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9 months
Rainwater asked Dunn to dinner to learn about the fund he was pitching and to get some advice on the investments Rainwater made as well. David Dunn recalls this dinner where he learned about Rainwater’s investments:
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@rainmakerspod
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2 months
@lhamtil @Pfdshares @yesandnotyes @DevinLaSarre Congrats! I love listening to each new episode you put out 🙏
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@rainmakerspod
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7 months
Hear the full story: Apple: Spotify:
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@rainmakerspod
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9 months
David Dunn left the famed venture capital fund, J.W Whitney after becoming the youngest partner in the firms history. He was ready to strike it out on his own and was confident he can raise a big debut fund right out the gate. But there was a problem, the market crashed in 1970.
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@rainmakerspod
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9 months
Anschutz's experience underscores the importance of resilience, pragmatism, and the ability to recognize and capitalize on opportunities in seemingly disastrous situations. Reflecting on this pivotal moment, Anschutz said, "There's always a point that if you go forward you
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@rainmakerspod
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9 months
I also want to give another special shout out to @sidecarcap , @rhunterh , @themagicbakery , @JSiegel88 , @richiemashiko for giving me feedback to make the episodes better.
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@rainmakerspod
Rame
1 month
This is an amazing article that really hits home the myriad of issues surrounding being an actual contrarian.
@halfkelly
Risk of Ruin Podcast
1 month
I wrote something, inspired by a recent episode of @BillBrewsterTBB podcast. Contrarians Everywhere, Contrarians Nowhere 👇
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@rainmakerspod
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11 months
@themagicbakery @walt373 Combine it with Bessent’s observation on making macro bets and you realize that the best really optimize for finding clear opportunities to take advantage of.
@CundillCapital
Cundill Capital
3 years
Reminder from Scott Bessent, who worked for Soros and Druck, that we’re all making macro bets
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@rainmakerspod
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9 months
This strategic move not only helped finance the firefighting operation but also showcased Anschutz's ability to turn a crisis into an opportunity. He navigated through tough negotiations and made decisions that would shape his future business empire.
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@rainmakerspod
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9 months
Seizing a unique opportunity, Anschutz struck a deal to sell the rights to film Adair's firefighting efforts to Universal Pictures. They were filming a movie about Adair and needed authentic footage of him battling an oil well fire.
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@rainmakerspod
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2 months
@themagicbakery These are the same guys who say they’re from LA when they live in Lancaster 😂😂
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@rainmakerspod
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2 months
@sidecarcap what’s your favorite company that you’ve studied?
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@rainmakerspod
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18 days
@nim_chef Thanks for listening. That is one thing I tried to stress throughout the series was that especially in the early days of the oil and gas industry banks did not have a real ability to underwrite loans for drillers because they simply did not know how much oil was in the ground.
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@rainmakerspod
Rame
1 month
Great opportunity to work with the best investing podcast network in the world
@patrick_oshag
Patrick OShaughnessy
1 month
Help us spread the word on an important new role: We are hiring an Editor in Chief at @joincolossus . Our podcasts reach ~8m unique people a year and the scope of our ambition is growing.  We are building a platform to find and shine a light on the most interesting people and
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@rainmakerspod
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23 days
@lundeen_ne You gotta admit that WB retiring from Berkshire and then becoming a fortune cookie account would be a sick move though
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@rainmakerspod
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9 months
Rainwater did not take any offense to Dunn’s remarks and already had known of his own amateur investing. He really liked what he saw out of Dunn. While Dunn stopped trying to raise money after failing to get banks on board, Rainwater came calling.
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@PrefShares You can make a strong case for Jack Henry as he has mentioned them as being the prototypical software business he studied in his letters
@turtlebay_io
Turtle Bay
1 year
Constellation Software's ideal VMS business? Jack Henry & Associates They call it "Our Gold Standard for VMS Companies." Bernard Anzarouth, CSI's CIO, wrote a memo about Jack Henry in 1999.
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@rainmakerspod
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2 years
@semil We would love to have you on @uppodpod ! We are a podcast that explores the partnerships behind great investors and founders. We’ve had some great guests from the venture community like @kwharrison13 , @thistrippjones , @djrosent . Let me know, I'll be more than happy to set it up!
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@rainmakerspod
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6 months
@PeimanRaf Check DMs
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@rainmakerspod
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5 months
@kevg1412 @TeeFaircloth Thanks for listening 🙏
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@fortworthchris I would say your best bet would be through John Goff. He and Sternlicht worked together on a deal to buy a portfolio of apartments for Rainwater (this was before Sternlicht formed Starwood and actually turned down Rainwater in being one of the deal makers at his office).
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@rainmakerspod
Rame
25 days
Another Brett G Banger
@brettgardner_10
Brett G
25 days
There is a perception that everything Warren Buffett touched in his early years turned to gold. People mistakenly think investing was sort of ‘easy’ when he started out. I write about some of the companies that were optically cheap in Buffett’s Early Investments (buy here:
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@rainmakerspod
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9 months
@rhunterh @ReustleMatt Thanks for being one of the first people to take a look and give me feedback! I will always appreciate your support in helping me launch this series 🙏
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@rainmakerspod
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11 months
@lhamtil I hope you like it!
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@rainmakerspod
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9 months
@JeffMacke Thanks for listening!
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@rainmakerspod
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2 years
@nachkari i'd say its super rare but someone like rainwater comes to mind in this respect of going from industry to industry and selling off when the time is right
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@rainmakerspod
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9 months
@BInvestooor @sidecarcap Thanks for taking the time to listen! 🙏
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@rainmakerspod
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4 years
@moseskagan @tsludwig @hkimia I found a book about the history of both The Irvine Company and the city of Irvine written by their head of PR, it’s quite informative:
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@rainmakerspod
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7 months
@breadcrumbsre @sidecarcap Thank you so much for listening! I have a couple good episodes that will be out soon.
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@rainmakerspod
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1 month
@TurnerNovak 😂😂😂
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@rainmakerspod
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2 months
@amandaorson My pleasure!
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@rainmakerspod
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4 years
@moseskagan @tsludwig @hkimia The book actually details the lengths Bren went to buying out the rest of the shareholders like donating to community activists’ campaigns and even parts of the land in order for them to protest the current ownership ( that he was part of!)
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@rainmakerspod
Rame
9 months
@turtlebay_io Thanks for helping me with research and the great feedback that made this episode come out the way it did. I really appreciate it! 🙏
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@rainmakerspod
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2 months
@EverestBrady @FoundersPodcast My pleasure, thanks for listening!
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@david_perell Here is what I use:
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@rainmakerspod
Rame
9 months
Anschutz reacted to the crisis by recognizing the well had struck oil. He immediately flew to Wyoming, seizing the opportunity to purchase surrounding acreage, a move reflecting his quick strategic thinking and risk-taking.
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@rainmakerspod
Rame
2 months
@dorsqcm @hcapinvesting @oscar100_x Totally agree. Rainwater liked to do a lot of small bets in one industry until he figured out what the actual home run was and that took time to see how his investments were first doing.
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@rainmakerspod
Rame
9 months
Young Colorado entrepreneur Philip Anschutz faced the defining challenge of his early career with an oil well blowout - a dire situation often leading to bankruptcy. He recounted, "I guess I had been in business on my own for a year or two. I was having a very tough time of it."
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@rainmakerspod
Rame
9 months
In a bold move, Anschutz negotiated control of the well, stating, "The final deal that was made was that I would assume total control in return for him assigning me a one-eighth interest in the well should I be able to get it under control."
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@rainmakerspod
Rame
5 years
@R8T3D I feel that part of the issue is admissions officers lack of knowledge in what you have built. While colleges in the US have traditionally used GPA and test scores as measures to accept people, unique ECs (like yours) can be overshadowed if it is not well documented.
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@rainmakerspod
Rame
9 months
@tsludwig Thanks for the shoutout! I really hope you enjoy the episode
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