Episodes

For generations, Pizza Hut was more than a pizza restaurant. It was a place for family dinners, birthday celebrations, and evenings out. From its recognizable red-roof restaurants to its famous pan pizza, Pizza Hut became part of American culture. But the restaurant industry changed, and so did the way people ordered and enjoyed pizza. In this episode of Fundamentals Unfiltered, Matt and Louie take a nostalgic look at Pizza Hut's history before turning their attention to the business behind th...

What happens when AI starts shopping for consumers? And are higher interest rates becoming something businesses and investors need to plan around for years to come? This week on Fundamentals Unfiltered, Matt and Louie discuss how AI shopping agents could change the way businesses reach customers and why adapting to new technology may become an increasingly important part of running a business. Then, the conversation turns to interest rates, housing, and investing. They explore how mortgage rat...

Remember walking into a Waldenbooks at your local shopping mall? Once one of America's most recognizable bookstore chains, Waldenbooks eventually disappeared. What went wrong, and could different business decisions have changed its future? In this episode of Fundamentals Unfiltered, Matt and Louie look back at the rise and fall of Waldenbooks and the business lessons behind its story. Topics discussed: How Waldenbooks grew into a major mall bookstore chain Kmart, Borders, and the impact of c...

The stock market is reaching record highs, but what does that really mean for investors? In this episode of Fundamentals Unfiltered, Matt and Louie discuss the difference between headline market performance and what is happening beneath the surface. They begin by examining how major stock market indexes are constructed, why large companies can have an outsized influence on index returns, and how the growth of AI-related companies has affected the market. The conversation then moves to private...

What can business owners learn from Warren Buffett, and how is the AI boom changing the way money moves through the economy? This week on Fundamentals Unfiltered, Matt and Louie start with five lessons business owners can learn from Warren Buffett’s career. They discuss building a circle of competence, finding great managers, being a good steward of other people’s capital, separating economic noise from the things that actually matter, making better capital-allocation decisions, and continuing...

What can the rise and fall of KB Toys teach us about business today? And what should investors be thinking about as the AI boom and Nvidia continue to reshape the technology landscape? This week on Fundamentals Unfiltered, Matt and Louie look at business from two very different perspectives: a company many of us remember from the past and one of the biggest business stories happening today. First, they revisit KB Toys, the once-familiar mall toy store that disappeared in 2008. But this isn't j...

Matt and Louie remember September 11, 2001 and examine its economic impact before turning to the latest jobs report, small-business ownership, financial independence, and whether the American Dream is still achievable.

What can Dolly Parton teach us about business and investing, and is today's massive AI spending boom creating the next investment bubble? In this episode of Fundamentals Unfiltered with Matt & Louie, we tackle two very different stories connected by a common theme: understanding how businesses create, protect, and invest capital. First, Matt and Louie look beyond Dolly Parton the entertainer to explore Dolly Parton the entrepreneur. They discuss the story behind I Will Always Love You, her decis...

Matt and Louie examine the decline of JCPenney and American department stores before turning to Treasury markets, interest rates, U.S. debt, economic sanctions, the dollar, AI, and the repo market.

What really happened to the American shopping mall? Matt and Louie explore the rise and decline of malls and what changing retail can teach investors about business and competition. Plus, In the News: Amazon’s growth, AI IPOs, rising Treasury yields, and a surprising shakeup between Burger King and Wendy’s.

What does it actually mean to think like a business owner—and why should investors learn to do the same? In the first episode of Fundamentals Unfiltered, Matt and Louie dig into the mindset behind successful business ownership, using Warren Buffett’s approach to management as a starting point. They explore the gap between owning a business and truly thinking like an owner, why incentives matter, lessons they’ve learned from their own business experience, and why a business that doesn’t work on p...

This week’s episode is a shorter, focused macro explainer on why gold and silver often absorb market uncertainty. Gold and silver have been reaching record highs — but what’s really driving the move? In this episode of Fundamentals Unfiltered, Matt breaks down why precious metals often act as “macroeconomic risk absorbers” during times of uncertainty, inflation concerns, geopolitical stress, and shifting confidence in fiat currencies. We explore the two major forces behind rising gold prices ...

What actually anchors inflation expectations in a world without the gold standard? In this episode of Fundamentals Unfiltered, Matt examines why Federal Reserve independence is central to economic stability, and why political pressure on monetary policy has repeatedly led to inflation, market instability, and loss of credibility. Using historical examples—from the gold standard and the Great Depression to the 1970s inflation crisis and the Volcker era—the episode explains how today’s monetary sy...

Warren Buffett didn’t become Warren Buffett by accident. In Episode 23 of Fundamentals Unfiltered, Matt continues his series on Warren Buffett by focusing on the moment he became the Warren Buffett — when he took control of Berkshire Hathaway and built it into a long-term investment platform. Topics include: Buffett’s early deep value roots and the Berkshire textile acquisition The National Indemnity purchase and the importance of insurance float Why Buffett closed his partnership in 1969 The sh...

Warren Buffett officially stepped down as CEO of Berkshire Hathaway on January 1, 2026. In this episode of Fundamentals Unfiltered, Matt begins a two-part reflection on Buffett’s remarkable career by focusing on his early life, education, and partnership years. We explore: · Buffett’s early entrepreneurial instincts in Omaha · His intellectual transformation under Benjamin Graham and David Dodd · The foundations of value investing and margin of safety · Buffett’s partnership years (1956–1969) an...

In this year-end episode of Fundamentals Unfiltered, Matt reflects on the major market themes of 2025 — without relying on forecasts or year-ahead predictions. The discussion covers the rally in gold and silver, private market liquidity challenges, the risks of opening private funds to retail investors, Federal Reserve independence, and how to think about valuation discipline amid continued enthusiasm for artificial intelligence. Rather than focusing on short-term outcomes, the episode emphasize...

In Episode 20 of Fundamentals Unfiltered, Matt analyzes the Federal Reserve’s recent 25 basis point rate cut, dissent within the FOMC, and why bond markets are signaling skepticism toward further easing. The episode explores Fed Chair succession, market concerns around Kevin Hassett, renewed attention on Kevin Warsh, and the historical precedent for Fed independence. Matt also recommends The Great Inflation and Its Aftermath by Robert Samuelson and explains why inflation expectations remain cent...

This week on Fundamentals Unfiltered, Matt breaks down two major stories shaping markets: - The escalating takeover battle for Warner Brothers Discovery Netflix’s $72B cash-and-stock bid sets off an unexpected contest with Paramount/Skydance’s hostile $30-per-share tender offer. Matt breaks down: Why the deal structure matters (cash vs. stock vs. equity stub) Antitrust risks for Netflix Political angles involving the Ellison family and Jared Kushner Why this drama echoes RJR Nabisco and the book...

This episode covers Bitcoin’s sharp reversal, the breakdown of Michael Saylor’s Bitcoin treasury strategy, and why MicroStrategy may be removed from the MSCI index. Matt also examines Jason Zweig’s reporting on illiquidity risks in private real estate funds and shares lessons from Wall Street legend Art Cashin, featured in Bob Pisani’s Shut Up and Keep Talking affiliate link: https://amzn.to/3YbekZT (I can earn from qualifying purchases). Clear insights, real risks, and timeless fundamentals. Ti...

In this holiday-week episode of Fundamentals Unfiltered, Matt reflects on the life and legacy of Charlie Munger—Warren Buffett’s longtime partner and Vice Chairman of Berkshire Hathaway, who died at age 99 in late November 2023. We walk through Munger’s path from Omaha to University of Michigan, Caltech (studying meteorology during WWII), Harvard Law School, and eventually into law, real estate development, and investing. Matt explains how Munger and Buffett used Blue Chip Stamps, See’s Candies,...

This week, Matt breaks down The Economist’s “Seven Deadly Sins of Corporate Exuberance,” covering crypto-leveraged balance sheets, meme-driven valuations, circular AI investment loops, debt-gluttonous M&A, patriotic capital allocation, and the fraud cycle that always follows a boom. We also examine why recessions have become ultra-rare, how heavy global deficit spending masks true economic weakness, and what it means for future downturns. Matt explains Joseph Schumpeter’s “creative destruction,”...

Jeff Gundlach’s macro outlook, Warren Buffett’s quiet farewell, and the rising age of first-time homebuyers — Matt explores what these signals mean for investors and the broader economy. Plus, a Buffett-approved book recommendation: The Most Important Thing by Howard Marks, a timeless guide to risk, valuation, and mindset. Timestamps: 00:00 Intro 00:34 Jeff Gundlach Interview 02:36 Interest Rates, The Presidents Opinion, & Gudlachs 04:43 Private Credit & Liquidity Risk 08:55 Warren Buffett Goes ...

Matt breaks down the Fed’s 25 bp rate cut and the end of quantitative tightening — what it means for liquidity, inflation, and credit markets. Then he dives into The Financial Times piece, “Big Tech’s Market Dominance Is Becoming More Extreme,” explaining how eight companies now drive most of the S&P 500’s gains and profits. Plus, a classic book spotlight: The Intelligent Investor by Benjamin Graham — Warren Buffett’s guide to fundamentals, market discipline, and margin of safety. Mentioned: Jer...

Gold tumbles after a record run, inflation lingers, and AI reshapes the job market — Matt explains what it all means for investors. Gold’s sharp reversal, the Fed’s coming rate cut, and the rise of AI-driven business strategies — Matt breaks down how momentum trades detach from fundamentals, why 3% inflation still matters, and what it all means for investors. Plus, lessons from Thinking in Bets on making smarter decisions amid uncertainty.