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Invest Like the Best with Patrick O'Shaughnessy
Mike Zapata – The Darkest Night: Lessons from Battle and Value Investing - [Invest Like the Best, EP.89]
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Show Notes
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My guest this week is remarkable. He now applies his talents on Wall Street, searching for smaller cap companies trading at huge discounts in an effort to compound wealth for his investors. He is classically trained, having earned his graduate degree from Colombia, a school known for producing value investors. But his method also reflects what he learned across more than a decade of active duty in the U.S. military.
Mike Zapata served us all as a Navy SEAL in the aftermath of 9/11 and ultimately as a member of the SEAL’s “Development Group,” commonly known as SEAL team 6. I think everyone listening strives for excellence in what they do. This week we get to hear from someone who has pursued excellence on our behalf.
I’ll let him explain the meaning of his firm’s name, Sententia, but for now suffice to say we are lucky to have quiet professionals like Mike. If you are interested in supporting the families of soldiers who fought with Mike and lost their lives, I encourage you to check out the Tip of the Spear foundation and make a donation along with me, small or large.
Please enjoy my conversation with Mike Zapata.
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
Books Referenced
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel
Fearless: The Undaunted Courage and Ultimate Sacrifice of Navy SEAL Team SIX Operator Adam Brown
Boyd: The Fighter Pilot Who Changed the Art of War
Show Notes
– (First Question) – A quick overview of Mike’s career leading up to his time at Columbia
– What led him down the path of value investing at Columbia
– The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel
– The focus and goal of the firm
– Where the name of the firm, Sententia comes from
– His experience in the Basic Underwater Demolition/SEAL (BUD/S) program and lessons learned from it
– How much grit is innate vs can be learned
– What the actual job was in BUD/S
– Difference between the broader SEAL community and being part of the more exclusive development group
– The team dynamic within the SEALS
– Fearless: The Undaunted Courage and Ultimate Sacrifice of Navy SEAL Team SIX Operator Adam Brown
– The sacrifice that SEALs make with the story of Adam Brown as an example
– Waiting for darkness before deployment
– How do you know when to violate your best practices for a risk
– A look at three pictures in his office and why they are meaningful
– Lessons that would be useful to other people
– Boyd: The Fighter Pilot Who Changed the Art of War
– How is Mike’s skillset applied to the investing world
– Factors that would be seen as good alignment in businesses
– How the view the profiles of other investors in these small businesses
– Examples of “smoke and fire”, markers of an attractive investment
– Other investors that he has learned the most from and what those lessons were
– Importance of balance sheets in value investing
– Is value investment oversaturated
– Market blind spots that are attractive to Mike
– What point in Mike’s career has he felt the most alive
– Any other lessons Mike would want to share
– Kindest thing anyone has done for Mike
Learn More
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Follow Patrick on twitter at @patrick_oshag
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