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WHEN STIG BRODERSEN TALKS ABOUT STOCKS FROM HIS APARTMENT IN AARHUS, THE BOSSES AT THE BANK OF ENGLAND LISTEN
By Nicolai Bang
*This interview with Stig Brodersen was originally published 22 June in Danish here
Stig Brodersen gave up an annual salary of 1 million DKK to seek freedom. He found it through a podcast, now the world’s most downloaded, on equity investment.
Americans often have a hard time pronouncing his name. Stig is pronounced hard like the last syllable of ”elastic”. And the pressure on the soft ‘d’ in Brodersen sounds so hard that you can almost hit someone with it.
But at least they know his name.
He is being recognized on the street in Omaha, USA, and has several real followers on Twitter, more than the singer Burhan G and Danish Prime Minister Lars Løkke Rasmussen; yet no one recognizes him when he goes grocery shopping in his hometown Aarhus.
In less than two years, the 31-year-old Stig Brodersen with his American co-host, Preston Pysh, created the world’s most downloaded podcast on equity investment and sold more than 30,000 books on the subject. It’s just gone unnoticed in Denmark, where less than 1 percent of the listeners come from. The lack of attention suits Stig Brodersen fine.
“I have actually no need to be recognized in Denmark. If you’re recognized in Denmark, it is very personal. In the US, on the other hand, people don’t care about where I live or what my wife does for a living. They just want to hear my opinion on Warren Buffett’s latest investment, “says Stig Brodersen as “Investor“ meets him at the Business Academy in Aarhus, where he has taught for almost three years alongside his podcast career.
He seems more interested in getting to know the journalist than talking about himself. Just like when he is recording his podcast show sucking knowledge out of guests such as the world-famous value investor Guy Spier, author Jack Schwager or the 24-year-old multimillionaire Nathan Latka. All done from his apartment via Skype.
So far, they have reached 90 episodes of The Investors Podcast. The concept is simple: In each section, the hosts study a billionaire, read their books, scrutinize their philosophies, and interview relevant experts.
The fact that Stig Brodersen mentions his interest in Warren Buffett, arguably the world’s most successful investor, is by no means random. But before we move to Omaha, Buffett’s hometown, we must pass by Søvind north of Horsens and a hectic trading floor at Danske Commodities. Experiences that formed Stig Brodersen’s path toward life as a podcast host.
Although there is ample room for grand gestures in Søvind north of Horsens, where Stig Brodersen grew up, it is not something people in the local community are known to exploit. Therefore, it was quite a contrast that greeted him when he immediately after his master degree in finance from the Business School in Aarhus landed a job at Danske Commodities.
Despite a starting salary of almost 1 million DKK, life in front of eight flashing screens never made him feel happy. He felt that the values he had carried with him from his childhood were taken from him.
“I didn’t like the trader lifestyle. I had no freedom. There was so much stress, so much I couldn’t control. When spending a large part of your time somewhere, you start to cultivate the same set of morals as others. Also, in a working environment with an enormous pressure, you don’t always make the best decisions. I could feel that it just wasn’t good for me, ” he says but does not want to elaborate out of consideration to his former employer.
The freedom and a stress-free lifestyle became a reality when Stig Brodersen resigned after 18 months and became acquainted with Warren Buffett and his investment company Berkshire Hathaway.
At Danske Commodities there were times where he made 200 trades in a day. Warren Buffett’s investment philosophy was quite the opposite. Patience, thoroughness, and moderation was key. This resonated strongly with Stig Brodersen, who has even adopted the 85-year-old billionaire’s philosophy of life.
“Warren Buffett only spends time with people he likes. So do I. That’s why I only employ people that I like. Even though I might find someone who is more qualified. Will it cost me money? Perhaps. But maybe I can achieve a higher sense of happiness instead. ”
He met his co-host Preston Pysh on a small online Warren Buffett forum, where virtually no other than the two of them posted. The Buffett mania later resulted in a book about the master’s investment strategies and eventually led to the launch of the podcast. The first month they had 5,000 downloads. Today, a year and nine months later, they tally between 15,000 and 20,000 downloads a day.
It was when Stig attended the annual Berkshire Hathaway meeting in Warren Buffett’s hometown of Omaha at the end of April that it dawned on him, how far they had come with the podcast. Around 100 listeners showed up to meet the two hosts.
One of them, a leader of a team of investment analysts from the Bank of England, did not conceal neither his own nor his colleagues’ enthusiasm.
“Despite the large amount of information and research that I see on a daily basis, the podcast manages to deliver high-quality information. Regardless of your level of knowledge, you can always learn something ” says Michele Bellabarba from London.
Not only does Stig Brodersen receive praise from top professionals in the investment industry. He was even recognized by strangers on the street while in the US.
“In Omaha, I was recognized by someone on the street who came up to me and asked if I was Stig. It was completely surreal. That would never happen in Denmark, “says Stig Brodersen.
The podcast has given him back the freedom that trader-life took from him. Although he has started many different projects – courses, acquisitions, investment advice – he no longer feels trapped or stressed.
“Today I woke up at 7.30, went for a run, had breakfast and relaxed for a bit. Then I worked from 10 to 11. Came out to the campus to do this interview. Later I have a short meeting and then I will go home and relax. If I work more than 40 hours per week, I have failed, “he explains.
