Unqualified Advice
Sean Filipow and Daniel Hatke
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Do You Want Your Free Market Back?
Hello show notes readers! Welcome to another episode of Unqualified Advice. We ask some hard questions this week. Did all high school guidance counselors suck? Should Dan have been a Rabbi? What are the physics of the shaggy dog van from dumb and dumber in a torrential downpour? Listen in as we ponder these important questions, and join us in media res as Sean describes a duh moment he had while reading Howard Marks' September 2024 memo Shall we Repeal the Laws of Economics? We're pretty sure the answer is no, but why don't you join us and see what you think? Companies Discussed Oaktree Capital Management (Howard Marks) Uber McDonald's Taylor Swift (kinda a company?) StubHub Ferrari IBM Oscar Mayer Apple RadioShack Clarkson's Farm Anduril Industries Coca-Cola Books Recommended "The Psychology of Money" by Morgan Housel – Referenced during a discussion about the paradox of wealth and perception, specifically regarding people buying expensive items for external validation. "The Comfort Crisis" by Michael Easter – Mentioned in relation to the idea of seeking discomfort to grow, and how modern life is often too comfortable. 00:00 Intro and Theme 01:27 Discussing Howard Marks and Some Serious Questions 03:44 Understanding Price Dynamics and Market Forces 06:06 The Role of Auctions in Pricing 08:30 Consumer Behavior and Pricing Perceptions 14:26 Pondering the Physics of the Shaggy Dog Van 16:08 Stated vs. Revealed Preferences in Economics 22:09 Did All Guidance Councilors Suck? Should Dan Have Been A Rabbi? 26:39 Zooming Out on Inflation & Zooming in on Tariffs 32:33 What Will "Made in the USA" Look Like Tomorrow?
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