Rephonic
Artwork for Behind the Balance Sheet
Investing
Value Investing
Investment Strategies
AI In Investing
Private Equity
Phoenix Partners
Investment Strategy
Market Forecasting
Alphasense
Alpha Theory
Hedge Funds
Technological Innovation
Investment Management
Cancer
Investment Process
Venture Capital
Decarbonization
Duchenne Muscular Dystrophy
Personal Tragedy
Consumer Spending

We deconstruct the performance of world beating investors. A former Tiger Cub hedge fund partner interviews top hedge fund & long only managers & leading commentators. Past guests include John Armitage, Mario Gabelli & Bill Nygren. We explore how professionals analyse & value businesses, capital cycles, forensic accounting, pick stocks, construct portfolios, generate alpha & manage risk. For priva... more

PublishesTwice monthlyEpisodes66Founded5 years ago
Number of ListenersCategories
InvestingBusiness

Listen to this Podcast

Artwork for Behind the Balance Sheet

Latest Episodes

Jeremy Grantham is known as a permabear and an expert on bubbles so you should not be surprised that he sees an AI-induced bubble today and thinks the market will fall by 50%. He points out that at peaks you always have high multiples applied to abno... more

Michael Cembalest chairs the Market and Investment Strategy group at JP Morgan Asset and Wealth Management and effectively oversees $4tn AUM. He is responsible for market and investment insights across the asset management business and has produced t... more

Rory Sutherland is the Vice Chairman of advertising giant Ogilvy UK, a behavioural scientist, TED speaker, organiser of the Nudgestock conference and so much more.

Most important, he is one of the most original thinkers around. In this wide ranging... more

The title “The Sculptor” is a play on a quote “every man can be the sculptor of his own mind”, as Jonathan Tepper is uniquely self-educated. Brought up in the slums of San Blas in Madrid, partly home-schooled, he made it to Oxford as a Rhodes scholar... more

Key Facts

Accepts Guests
Accepts Sponsors
Contact Information
Podcast Host
Number of Listeners
Find out how many people listen to this podcast per episode and each month.

Similar Podcasts

People also subscribe to these shows.

Value Investing with Legends
Value Investing with LegendsColumbia Business School
The Acquirers Podcast
The Acquirers PodcastTobias Carlisle
Money Maze Podcast
Money Maze PodcastMoney Maze Podcast
Focused Compounding
Focused CompoundingAndrew Kuhn and Geoff Gannon

Recent Guests

Jeremy Grantham
Investor and co-founder of GMO, author of The Making of a Permabear
GMO
Episode: #59 The "Permabear" - Jeremy Grantham on why he expects a market crash, navigating bubbles and giving away $1bn
Michael Cembalest
Chairs the Market and Investment Strategy Group at JP Morgan Asset and Wealth Management
JP Morgan Asset and Wealth Management
Episode: #58 The Chart Guy - $4tn CIO Michael Cembalest on markets, AI and the impending rout in US Treasuries
Rory Sutherland
Behavioral scientist, vice chair of Ogilvy, author of Alchemy
Ogilvy
Episode: #57 The Behavioural Scientist - Rory Sutherland on Marketing, What Analysts Miss and Behavioural Economics
Jonathan Tepper
Investment manager, author of 'Shooting Up', and founder of Prevatt Capital
Prevatt Capital
Episode: #56 The Sculptor - Jonathan Tepper on 16 Stock Portfolios, Moats & Buying Oligopolies
Terry Smith
CEO of Fundsmith and renowned investor
Fundsmith
Episode: #55 The Pugilist - Terry Smith on Quality, Valuation & Long‑Term Compounding
Tom Gayner
CEO of Markel Group, regarded as an underrated capital allocator with a thoughtful long-term investment approach.
Markel Group
Episode: #53 The Plodder - Tom Gayner on Building Markel and the Art of Long‑Term Compounding
Nick Train
Renowned UK investor with a long-term value investment strategy
Lindsell Train Ltd
Episode: #51 The Franchise Fan - Nick Train on Durable Franchises and 20‑Year Holding Periods
Dave Iben
Value investor with over 40 years of experience.
Kopernik Asset Management
Episode: #48 The Independent Thinker - Dave Iben on Contrarian Value, Commodities & Emerging Markets
Gary Channon
Run a value fund and private equity vehicle, known for his thoughtful investment process and focus on intrinsic value.
Phoenix Partners
Episode: #47 The Relentless Improver - Gary Channon on 15‑Stock Portfolios, Half Price Stocks & Designing a Process for Better Decisions

Host

Steve Clapham
Host of Behind the Balance Sheet

Reviews

4.8 out of 5 stars from 358 ratings
  • Good content but…

    Steve gets great guests but his voice and accent are highly irritating

    Apple Podcasts
    3
    USexpat1
    United Kingdom15 days ago
  • This is how you learn to invest.

    I have been following Stephen’s BTBS for a couple of years. Completed the valuation course and diligently listen to every podcast, often multiple times to take notes of key points. Want to learn how to invest? Read all the books recommended & understand how these investors go about their craft. Then figure out your own approach. It works!

    Apple Podcasts
    5
    STMB&G
    Australia2 months ago
  • Excellent, enlightening conversations

    I have listened with interest to Stephen’s podcasts. They’re jam-packed with insightful snippets from a range of valuable guests. Understanding the perspective of the interviewee is Stephen’s superpower. I highly recommend! Share this podcast with your friends Five stars.

    Apple Podcasts
    5
    JimJam-Percy
    United Kingdom3 months ago
  • High Recommend

    Always thoughtful and excellent. Stephen gets amazing guests and what I love is he’s not obsequious or overly deferential. He probes and challenges and often disagrees. Terrific series and I always look forward to the next one, which never disappoints

    Apple Podcasts
    5
    Excelente y Terrific
    United Kingdom3 months ago
  • Kevin

    This podcast is excellent. Thought provoking, insightful and clear. Super range of guests. Ideas and learnings from every show.

    Apple Podcasts
    5
    knfranklin
    United Kingdom4 months ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

Prospect of practical investing wisdom delivered through rigorous conversations.
Thoughtful, high-caliber content with great guests and insightful questions.
A must-listen for serious investors who want to learn how top minds think and decide when to act.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Talking Points

Recent interactions between the hosts and their guests.

#59 The "Permabear" - Jeremy Grantham on why he expects a market crash, navigating bubbles and giving away $1bn
Q: What is Grantham's take on timing vs. staying invested?
There is no perfect timing; waiting for clarity often yields losses or misses; instead, invest with a long horizon, use robust value frameworks, and be prepared to act when data indicates a regime shift.
#59 The "Permabear" - Jeremy Grantham on why he expects a market crash, navigating bubbles and giving away $1bn
Q: How does the guest view the role of AI and technological hype in bubbles?
AI and other big tech themes can fuel capex and market optimism, creating large, rapid shifts that can misprice assets and lead to sharp corrections when realities diverge from hype.
#59 The "Permabear" - Jeremy Grantham on why he expects a market crash, navigating bubbles and giving away $1bn
Q: What makes predicting market turns so difficult for professionals?
Extrapolation of current conditions dominates forecasting, and career risk pushes firms to avoid taking decisive stands against bubbles, which leads to delayed corrections and bigger crashes.
#58 The Chart Guy - $4tn CIO Michael Cembalest on markets, AI and the impending rout in US Treasuries
Q: What should investors do today to shield portfolios from a potential US bond-market crisis?
Focus on time horizons and avoid over-preparing for events far outside client investment timelines; maintain liquidity to seize new opportunities after corrections, and consider war chest strategies rather than trying to perfectly time downturns.
#58 The Chart Guy - $4tn CIO Michael Cembalest on markets, AI and the impending rout in US Treasuries
Q: From your perspective, is the AI surge a durable structural shift or a temporary tech bubble?
It's a mix. Some AI investments are paying off with productivity gains for certain firms, but broader profitability and monetization models remain uncertain, so investors should watch for real earnings leverage and energy/infra constraints before extrapolating.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

Listeners per Episode
Gender Skew
Location
Interests
Professions
Age Range
Household Income
Social Media Reach

Frequently Asked Questions About Behind the Balance Sheet

What is Behind the Balance Sheet about and what kind of topics does it cover?

A rigorous investing show that features deep-dive conversations with seasoned market practitioners and thought leaders. Episodes consistently cover macro forces, valuation, capital allocation, and behavioral finance, with guests who bring long histories of stock picking, portfolio construction, and risk management. Notable is the host's focus on thorough, technically grounded questions that extract actionable investing takeaways, and the mix of public-market and private-market perspectives from high-profile investors. The format tends to attract professionals seeking educational, alpha-oriented insights and a clear, process-driven view of investing. A unique strength is its blend of valuation rigor, practical portfolio experience, and candi... more

Where can I find podcast stats for Behind the Balance Sheet?

Rephonic provides a wide range of podcast stats for Behind the Balance Sheet. We scanned the web and collated all of the information that we could find in our comprehensive podcast database. See how many people listen to Behind the Balance Sheet and access YouTube viewership numbers, download stats, audience demographics, chart rankings, ratings, reviews and more.

How many listeners does Behind the Balance Sheet get?

Rephonic provides a full set of podcast information for three million podcasts, including the number of listeners. View further listenership figures for Behind the Balance Sheet, including podcast download numbers and subscriber numbers, so you can make better decisions about which podcasts to sponsor or be a guest on. You will need to upgrade your account to access this premium data.

What are the audience demographics for Behind the Balance Sheet?

Rephonic provides comprehensive predictive audience data for Behind the Balance Sheet, including gender skew, age, country, political leaning, income, professions, education level, and interests. You can access these listener demographics by upgrading your account.

How many subscribers and views does Behind the Balance Sheet have?

To see how many followers or subscribers Behind the Balance Sheet has on Spotify and other platforms such as Castbox and Podcast Addict, simply upgrade your account. You'll also find viewership figures for their YouTube channel if they have one.

Which podcasts are similar to Behind the Balance Sheet?

These podcasts share a similar audience with Behind the Balance Sheet:

1. Value Investing with Legends
2. Yet Another Value Podcast
3. The Acquirers Podcast
4. Money Maze Podcast
5. Focused Compounding

How many episodes of Behind the Balance Sheet are there?

Behind the Balance Sheet launched 5 years ago and published 66 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

How do I contact Behind the Balance Sheet?

Our systems regularly scour the web to find email addresses and social media links for this podcast. We scanned the web and collated all of the contact information that we could find in our podcast database. But in the unlikely event that you can't find what you're looking for, our concierge service lets you request our research team to source better contacts for you.

Where can I see ratings and reviews for Behind the Balance Sheet?

Rephonic pulls ratings and reviews for Behind the Balance Sheet from multiple sources, including Spotify, Apple Podcasts, Castbox, and Podcast Addict.

View all the reviews in one place instead of visiting each platform individually and use this information to decide if a show is worth pitching or not.

How do I access podcast episode transcripts for Behind the Balance Sheet?

Rephonic provides full transcripts for episodes of Behind the Balance Sheet. Search within each transcript for your keywords, whether they be topics, brands or people, and figure out if it's worth pitching as a guest or sponsor. You can even set-up alerts to get notified when your keywords are mentioned.

What guests have appeared on Behind the Balance Sheet?

Recent guests on Behind the Balance Sheet include:

1. Jeremy Grantham
2. Michael Cembalest
3. Rory Sutherland
4. Jonathan Tepper
5. Terry Smith
6. Tom Gayner
7. Nick Train
8. Dave Iben

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

Find and pitch the right podcasts

We help savvy brands, marketers and PR professionals to find the right podcasts for any topic or niche. Get the data and contacts you need to pitch podcasts at scale and turn listeners into customers.
Try it free for 7 days