On today’s episode, Kyle Grieve discusses the most important investing lessons he learned in 2025 after spending thousands of hours studying great investors, businesses, and mental models. What you'll learn here: 00:00:00 - Intro 00:02:23 - Why “strong convictions, weakly held” is one of the most powerful default frameworks for better investing decisions 00:07:28 - Why customer loyalty is an underappreciated signal of long-term business quality 00:11:52 - How sleuthing a business can dramatically deepen your understanding beyond financial statements 00:15:31 - Why reflecting on your own emotions is essential to improving investment outcomes 00:21:53 - Why intelligent investing always involves incomplete information, and why that is not a flaw 00:27:50 - Why intentional inactivity is one of the most profitable actions an investor can take 00:33:40 - How understanding company culture helps identify true long-term compounders 00:39:07 - Why founders matter and the overlooked reason their impact often outlives them 00:46:37 - Why focusing on fragility and downside risk matters more than upside potential 00:51:51 - Why incentive structures are one of the most critical and misunderstood drivers of business performance Transcript & Guest Info: https://www.theinvestorspodcast.com/episodes/how-my-thinking-about-investing-evolved-in-2025-w-kyle-grieve/ 🤝 Network with like-minded value investors and get new stock ideas by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 💎 Explore a new business weekly and decide if it deserves a spot in your portfolio. https://www.theinvestorspodcast.com/intrinsic-value-podcast/ ▶️ Related Episodes: - Serial Acquirer: Successful Acquisition Strategies w/ Chris Mayer: https://youtu.be/Pp1m69E9vxg - My Process for Finding Great Investments w/ Kyle Grieve: https://youtu.be/5Ydjzom81fg 📖 Book Mentioned: - The Compounders by Oddbjørn Dybvad, Kjetil Nyland, and Adnan Hadžiefendić: https://amzn.to/3NgmIFf Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP Visit our website: https://www.theinvestorspodcast.com/we-study-billionaires/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #InvestingLessons #LongTermInvesting #MentalModels #RiskManagement #ValueInvesting