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The Investing for Beginners Podcast - Your Path to Financial Freedom
Andrew Sather, Stephen Morris, and Evan Raidt
Último episodio
781 episodios
The Language of Business, Part 2: Why Your Stock Goes Nowhere
29/10/2026 | 45 minStephen and Andrew walk down the income statement — the second stop in the Language of Business series — to show you exactly where money hides, where it bleeds, and how to spot a company that's working for its management instead of its shareholders. Starting from a simple question — how can sales and profits both grow 10% while your stock goes nowhere? — they break the statement into its three sections, compare Apple's clean income statement with Snapchat's stock-comp-heavy one, and build a plain-English mental model plus a 3-question checklist you can use on any company.
What You Will Learn
How to read an income statement top to bottom: revenue, gross profit, operating profit, and net income
Why your stock can go nowhere even when sales and profits grow — dilution and stock-based compensation
What gross margin tells you about pricing power, and why it varies so much by industry
How operating leverage works: when operating income grows faster than revenue
Where to find stock-based compensation and shares outstanding — and the red flags to watch
When buybacks create real growth, and when they're just covering up dilution
Stephen's $1 mental model and the 3-question checklist for any income statement
Timestamps
00:00 — Why the income statement frustrates everyone
05:42 — The three profits: gross, operating, and net
07:17 — The brewery test: flat revenue, healthy or weak?
08:32 — Margins and benchmarks: what "good" actually means
10:06 — Gross margin by industry, and Apple's two businesses
14:29 — Volume vs. margin: Costco, Dick's, and Academy
17:30 — OpEx: R&D, SG&A, and operating leverage
21:22 — Snapchat's R&D bet and operating leverage
23:20 — Operating leverage in plain English
25:30 — Net income: interest, taxes, and one-offs
27:37 — One-offs as a capital-allocation signal
30:20 — Share dilution: why Andrew hates it
32:05 — Where to find SBC and shares outstanding
34:01 — Buybacks: when they work and when they don't
39:10 — The $1 mental model
40:20 — The 3-question checklist, your comments, and next time: balance sheets
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your biggest monthly expense into rewards. Bilt lets you earn points on rent payments with no transaction fees, redeemable for travel, fitness classes, and more at joinbilt.com/investing
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
Take your investing up a notch with MooMoo — commission-free trading, pro-level research tools, and real-time market data, all in one app. Get started at start.moomoo.com/BEGINNERS
Sending money across borders? Wise gives you the real exchange rate with low, transparent fees and no hidden markups. Join millions managing money globally at wise.com
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoicesAAR73 - When to Optimize and Wing It
27/10/2026 | 54 minEvan and Andrew take on optimization — the urge to squeeze every last drop out of every financial decision. Sometimes optimizing now pays off massively over time. Other times it's a recipe for a mediocre gain and a drastic increase in stress and time spent. In this episode, they run through seven everyday financial decisions and sort them into three buckets: worth optimizing, good enough, and not worth the trouble — with diminishing returns and real-life trade-offs in mind.
What You Will Learn
Credit card rewards / churning: NOT worth it. Limited upside for long-term wealth building, with real downside — it baits you into spending more than you otherwise would, and hopping from card to card hurts your credit score.
401(k) contributions: Good enough for most. Get the employer match, contribute a comfortable percentage (around 6%), and invest additional savings elsewhere where you can actually reach them before retirement. Max it out only if you're a high earner and it doesn't squeeze your life.
Roth IRA contributions: WORTH optimizing. The best of the bunch, within reason and after your emergency fund and bills are covered. The annual max is low compared to a 401(k), the money grows tax-free, and you can pull out your contributions anytime, tax-free and penalty-free.
Budgeting: Set it up, keep it sustainable, and stop there. The early decisions are powerful and low-effort. Optimizing to the nth degree gets exponentially more painful for almost no extra gain. Fudge factors are your friend.
Taxes: Use a tax professional; don't DIY-optimize the tax code. Tax optimization is wealth-keeping, not wealth-building, and a write-off is never free money.
Investing early: WORTH optimizing. Time matters more than amount. Even small amounts, started early — even for your kids — compound into life-changing numbers.
Insurance shopping: Shop if you're clearly overpaying; otherwise skip it. A couple of hours to save hundreds a month is worth it. Hours of applications to save $10–20 a month is not.
Timestamps
00:00 — What "good enough" really means
07:00 — Credit card rewards and churning
12:00 — 401(k) contributions
18:00 — Roth IRA contributions (the one worth optimizing)
23:00 — Budgeting (and permission to buy the stick of gum)
31:00 — Taxes and the tax code
38:00 — Investing early (compound interest, the eighth wonder)
45:00 — Shopping for insurance
51:00 — Close: one smart move at a time
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/
Email Evan: evan@einvestingforbeginners.com
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your biggest monthly expense into rewards. Bilt lets you earn points on rent payments with no transaction fees, redeemable for travel, fitness classes, and more at joinbilt.com/investing
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
Take your investing up a notch with MooMoo — commission-free trading, pro-level research tools, and real-time market data, all in one app. Get started at start.moomoo.com/BEGINNERS
Sending money across borders? Wise gives you the real exchange rate with low, transparent fees and no hidden markups. Join millions managing money globally at wise.com
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoicesWhy Solar Is One of the Cheapest Ways to Make Power (and What It Means for Investors)
26/10/2026 | 51 minRenewable energy has gone from expensive science project to the cheapest way to build power in America — and most investors still don't understand how the business actually works. In this interview, Andrew sits down with Peter Davidson, CEO of Aligned Climate Capital, to break down the economics of solar power: how solar farms actually make money (it's more like building a rental apartment than a tech startup), why over 90% of new US power generation being built is wind, solar, and batteries, how AI and data centers are driving a 5x surge in electricity demand, and the risks investors need to watch — permitting, NIMBYism, and interest rates. They also get into the grid (built for one day a year), virtual power plants, advanced geothermal, small modular nuclear, and the public companies worth knowing. Whether you're a beginner or a seasoned investor, this is the cleanest walkthrough of the energy transition we've put out.
What You Will Learn
How a solar farm actually makes money — the offtake-agreement model, explained like a rental apartment
Why solar and wind are now the cheapest ways to build new power (the curves have crossed)
Why over 90% of new US power generation is wind, solar, and batteries — and what that means for investors
How AI and data centers are driving electricity demand growth from 0.5% to 2.5% per year (a 5x jump)
Why a solar farm gets built in 6 months while a gas plant takes 2–3 years (and gas turbines have a 4–6 year backlog)
The real risks: permitting, NIMBYism, and why interest rates are the number to watch
How the grid works — and why it was built for a single peak day each year
What virtual power plants are, and why your home battery could sell power back to the grid
What's next: advanced geothermal, small modular nuclear, and higher-upside energy bets
The public companies Peter names: Nextracker, NextEra, Bloom Energy, Hannon Armstrong
Timestamps
00:00 — What's happening in renewable energy
02:31 — What most investors don't understand about solar power
04:52 — Solar is now ~13% of US electricity (up from 1–2%)
07:31 — "Building a solar farm is like building a rental apartment"
09:01 — The input of solar power is free
10:52 — Over 90% of new US power built is wind, solar, and battery
11:39 — Are we running out of land for solar?
14:27 — Wind farm myths: noise, bird kills, and cats
16:39 — Agrivoltaics: farming and solar on the same land
19:03 — Energy demand growth going from 0.5% to 2.5% (a 5x jump)
22:42 — Gas turbine backlog: 4–6 years from GE or Siemens
25:00 — Aligned's two strategies: buying solar farms + venture investing
28:31 — Public companies to know: Nextracker, NextEra, Bloom Energy
32:47 — Higher upside, higher risk opportunities in energy
37:14 — Utility companies as investments
41:25 — The grid: the greatest machine ever built (and it's built for peak)
45:48 — Why doesn't every home have a battery?
47:51 — The urban challenge: renters, apartments, and city EV charging
49:01 — How high can solar's 13% share realistically go?
49:27 — Australia hits 100% renewables at times of day
50:52 — EVs: 1 in 4 cars sold globally is now electric
52:58 — The risk investors must watch: interest rates
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Aligned Climate Capital: https://alignedclimatecapital.com/
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your biggest monthly expense into rewards. Bilt lets you earn points on rent payments with no transaction fees, redeemable for travel, fitness classes, and more at joinbilt.com/investing
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
Take your investing up a notch with MooMoo — commission-free trading, pro-level research tools, and real-time market data, all in one app. Get started at start.moomoo.com/BEGINNERS
Sending money across borders? Wise gives you the real exchange rate with low, transparent fees and no hidden markups. Join millions managing money globally at wise.com
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoicesThe Language of Business, Part 1: Accounting Doesn't Have to Suck
22/10/2026 | 45 minThere's one thing Andrew and Stephen can talk about that instantly puts everybody to sleep: accounting. Spreadsheets, debits, credits — boring. But it's also the single most important skill an investor can build, because accounting is the language every business on earth speaks. So they're launching a new series: The Language of Business — a Khan-Academy-style walkthrough of financial statements, one bite-sized concept at a time, with zero promises it'll be entertaining (but they'll try). Part 1 starts with the foundations: the basic business model (revenue, expenses, profit) through the story of an 11-year-old kid who built a landscaping empire from his dad's "borrowed" push mower, the core accounting equation (Assets = Liabilities + Equity), why cash and accrual accounting are completely different animals, and exactly where to find the numbers in a real 10-K. Plus: Andrew's lawn-mowing allergy trauma, Stephen's hay-baling war stories, and the adjusted EBITDA confession Stephen's been sitting on for years.
What You Will Learn
The basic business model in one line: revenue minus expenses equals profit — illustrated through an 11-year-old's lawnmower business
The core accounting equation (Assets = Liabilities + Equity) and why it always has to balance
What depreciation actually is — and why a $10 lawnmower "costs" $2 a year for five years without spending another dime
Cash vs. accrual accounting: why signing a contract and getting paid are two different events, and why the stock market runs on accrual
Deferred/unearned revenue explained through Netflix subscriptions
Where to find financial statements in a real 10-K (spoiler: Item 8) — plus your homework assignment
Why "adjusted EBITDA" is a number you should basically ignore
Timestamps
00:00 — Doctorates, and Dr. Dre
03:45 — The series pitch: making accounting tolerable
04:15 — Why Andrew loves spreadsheets + the AI bit
06:40 — Put in the reps: follow along with real companies
08:00 — Trishawn's story: the 11-year-old lawnmower mogul from Toledo
11:50 — Segment 1: The basic business model — revenue, expenses, net profit
15:35 — Segment 2: The core equation — Assets = Liabilities + Equity
18:25 — Wear and tear: reinvesting (or not) in the business
19:10 — Andrew's lawn-mowing allergy trauma
20:20 — Stephen's hay-baling war story
21:50 — Depreciation & amortization, lawnmower-style
23:55 — Buying with cash vs. borrowed money: swapping assets
25:30 — The balance scale graphic
25:40 — Segment 3: Cash vs. accrual — the clean take
27:25 — "Bobby is a baller" — the Costco-level operator
29:05 — Subscription models: Netflix, Prime, and deferred revenue
31:15 — Unearned revenue + the Thomas Ittelson book recommendation
33:10 — Stephen's adjusted EBITDA confession
34:15 — Segment 4: Where to find the numbers — 10-K, SEC.gov vs. investor relations
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your biggest monthly expense into rewards. Bilt lets you earn points on rent payments with no transaction fees, redeemable for travel, fitness classes, and more at joinbilt.com/investing
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
Take your investing up a notch with MooMoo — commission-free trading, pro-level research tools, and real-time market data, all in one app. Get started at start.moomoo.com/BEGINNERS
Sending money across borders? Wise gives you the real exchange rate with low, transparent fees and no hidden markups. Join millions managing money globally at wise.com
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoicesAAR72 - Financial Tier List
20/10/2026 | 50 minEvan and Andrew rank 14 personal financial decisions on a tier list — S tier means everybody should do it, F tier means never do it — all judged for a hypothetical 30-year-old: married, decent-but-not-stellar finances, Walmart glasses. Three decisions earn S tier. Three land in F. And the 72-month car loan sparks the episode's most surprising debate.
What You Will Learn
Why capturing your full 401(k) match is an instant, guaranteed 100% return
The hidden trap of maxing your 401(k): when your net worth is $400K but you can only afford $900 rent
The Roth IRA trick most people miss — contributions come back out anytime, penalty-free
The 72-month car loan debate: worse than it sounds, or actually reasonable?
Why annuities lose on fees and legacy — and the one reason to keep them anyway
Day trading = gambling: good luck out-surfing the algorithms
The buy-now-pay-later trap: death by a thousand stacked payments
Timestamps
00:00 — The game: ranking financial decisions F to S; meet our 30-year-old
04:45 — #1: Capturing the full 401(k) match → S tier
05:58 — #2: Maxing out the 401(k) → C tier (the sustainability argument)
08:39 — Sidebar: does E tier exist? (E tier eliminated)
10:28 — #3: Emergency fund in a high-yield savings account → S tier
11:24 — #4: Index fund investing → A tier (the S-tier debate)
14:13 — #5: Roth IRA contributions → S tier (withdraw contributions anytime)
17:49 — #6: Credit card rewards → B tier
19:11 — #7: Paying off a 3% mortgage early → D tier
22:02 — #8: A 72-month car loan → C tier (Andrew lobbied for B-)
25:08 — #9: Annuities → D tier (the death-benefit debate)
31:56 — #10: Financial advisor charging 1% → D tier
35:11 — #11: Day trading → F tier ("good luck surfing the algorithms")
39:28 — #12: Investing in crypto → D tier (Andrew's $15 in Solana)
41:55 — #13: Timeshares → F tier
43:43 — #14: Buy now, pay later → F tier (financing a Chipotle burrito)
47:37 — Final tier list recap
Resources Mentioned
The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/
Free monthly budgeting spreadsheet: https://einvestingforbeginners.com/budget/
Email Evan: evan@einvestingforbeginners.com
Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast!
Remember, financial freedom is built one smart move at a time. Keep it simple, keep it steady, and at any rate, we’ll see you next time.
Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening.
Today’s show is sponsored by:
Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures.
Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners
Turn your biggest monthly expense into rewards. Bilt lets you earn points on rent payments with no transaction fees, redeemable for travel, fitness classes, and more at joinbilt.com/investing
Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing
Take your investing up a notch with MooMoo — commission-free trading, pro-level research tools, and real-time market data, all in one app. Get started at start.moomoo.com/BEGINNERS
Sending money across borders? Wise gives you the real exchange rate with low, transparent fees and no hidden markups. Join millions managing money globally at wise.com
Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com
SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein
Learn more about your ad choices. Visit megaphone.fm/adchoices
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Acerca de The Investing for Beginners Podcast - Your Path to Financial Freedom
The Investing for Beginners Podcast teaches you how to buy your first stocks and build long-term wealth in the stock market— without the hype or confusing jargon.
Hosts Andrew Sather and Stephen Morris break down value investing fundamentals into plain English: how to read financial statements, value a company, avoid common beginner mistakes, and build a long-term portfolio you can actually stick with.
Plus, in our At Any Rate episodes with host Evan Raidt, we tackle the personal finance side of wealth building— paying off debt, budgeting, saving, and the money debates every household faces before (and while) investing.
Stop chasing "get-rich-quick" schemes and start building your path to financial freedom, one episode at a time. Follow for more.
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- Carplay & Android Auto compatible
- Muchas otras funciones de la app
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