22 | Stephen Clapham, Behind the Balance Sheet

<p><span style="font-weight: 400;">My guest today is Stephen Clapham (@steveclapham). Steve is a former partner of a Tiger Cub and former Head of Research at a second multi-billion hedge fund. Nowadays, he is the founder of Behind the Balance Sheet, where he produces investment research and offers training services. Steve is also the author of the book, The Smart Money Method: How to pick stocks like a hedge fund pro. </span></p> <p><span style="font-weight: 400;">In this conversation, we cover red flags for fraud, accounting standards, and his new podcast.</span></p> <p><span style="font-weight: 400;">I hope you enjoy my conversation with Stephen Clapham.</span></p> <p> </p> <p><span style="font-weight: 400;">For the full show notes, transcript, and links to mentioned content, check out the episode page on </span> <a href= "https://compoundingpodcast.com/ep22"><span style= "font-weight: 400;">https://compoundingpodcast.com/ep22</span></a><span style="font-weight: 400;"> </span></p> <p> </p> <p><span style="font-weight: 400;">------</span></p> <p> </p> <p><strong>Show Notes:</strong></p> <p><span style="font-weight: 400;">[00:00:32] - [First question] - Where Stephen starts when analyzing financial statements</span></p> <p><span style="font-weight: 400;">[00:02:15] - Red flags to look out for? </span></p> <p><span style="font-weight: 400;">[00:08:05] - Why don’t people care about financial statements?</span></p> <p><span style="font-weight: 400;">[00:19:10] - What changes would Stephen make to accounting standards?</span></p> <p><span style="font-weight: 400;">[00:25:17] - How to align incentives of auditors, companies and shareholders</span></p> <p><span style="font-weight: 400;">[00:27:30] - Worst accounting offenses he’s seen</span></p> <p><span style="font-weight: 400;">[00:28:31] - Why did Stephen start his podcast?</span></p> <p> </p> <p><span style="font-weight: 400;">------</span></p> <p> </p> <p><strong>Connect with Stephen:</strong></p> <p><span style="font-weight: 400;">Follow Stephen on Twitter:</span