IN THIS EPISODE, YOU’LL LEARN:

• What is the intrinsic value of First Republic Bank
• Why First Republic Bank can be seen as a retail business with a superior franchise
• How to value banks, and the importance of price to tangible book value
• Which key ratios to use to evaluate performance and debt levels of banks
• Ask The Investors: How to pick stocks when you have a full-time job

TRANSCRIPT

Preston Pysh 0:00

On today’s show we’re excited to talk to Sean Stannard-Stockton. Sean is the President and Chief Investment Officer of Ensemble Capital. His firm manages over $900 million and has strong roots in the Buffett style value investing approach. On today’s show, we focus on a single company, and specifically, we’re talking about a bank stock. Sean provides an incredible interview that is packed with ideas and methods for trying to determine the value of a company in the sector. So without further delay, enjoy the show!

Intro 0:34

You are listening to The Investor’s Podcast where we study the financial markets and read the books that influence self-made billionaires the most. We keep you informed and prepared for the unexpected.

Stig Brodersen 0:55

Welcome to today’s show! My name is Stig Brodersen, and I’m here today with my co-host Preston Pysh. Today’s topic is banking, and we are especially going to talk about First Republic Bank. And our guest for today is Sean Stannard-Stockton. Sean, thank you so much for coming on the show!

Sean Stannard-Stockton 1:13

Thank you so much for having me!

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BOOKS AND RESOURCES

• Sean Stannard-Stockton’s company, Emsemble Capital
• Ensemble Capital’s educational blog
• Check out Millennial Investing by The Investor’s Podcast Network
• Sign up to the TIP live event in Los Angeles with Stig and David by emailing: stig@theinvestorspodcast.com
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