Dan Kent

speaker
601 appearances 44 recordings 2 series first heard Apr 2026 last heard 7 Sep

Dan Kent’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months
14 · Aug OctJan 26AprJulnow

Recordings per month over the last 12 months — 44 in all, peaking in Aug 2026 with 14.

Appearances

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Just my reminder to people who own cyclicals, don't be surprised when there's a cycle.
Yeah, I think it's this week.
Yeah.
Just my reminder to people who own cyclicals, don't be surprised when there's a cycle.
Just my reminder to people who own cyclicals, don't be surprised when there's a cycle.
This has to be one of the biggest quarters I've seen from this company in quite some time.
Yeah, and I think that is the really important setup for the episode today because Berkshire is almost the complete opposite of where a lot of investors' attention is right now.
So, I mean, we look to AI.
A lot of people are asking, how do I get access to OpenAI, Anthropic, Stripe, or other private companies before they go public?
And I do get it.
Some of the most exciting companies in the world are staying private longer.
By the time they IPO, a lot of the value might have already gone to founders, employees, venture funds, sovereign wealth funds, large institutions.
So retail investors kind of naturally wonder...
why can't I get in earlier?
And the question is pretty fair.
If more value creation is happening before the IPO, then public market investors are right to ask why they're showing up late to the party.
And I think we're going to go over this after the Berkshire call, kind of how to get access to these funds, or sorry, these opportunities before they go public.
Yeah, that's the key distinction because a lot of investors assume being earlier automatically means you have a better opportunity, but earlier can also mean less information, less liquidity, worse terms, much harder time figuring out what the investment is actually worth.
That doesn't mean private markets are always bad, but it does mean that investors kind of need to separate the excitement from the actual expected return because that is what we're trying to do here is earn returns on our money.
And I think that becomes even more important when the companies involved are tied to AI, where the stories are kind of huge, the valuations are aggressive, and the range of outcomes is extremely wide.
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