#40 The Chronicler - Lionel Barber on Masa Son, SoftBank, the FT & Wirecard

#40 The Chronicler - Lionel Barber on Masa Son, SoftBank, the FT & Wirecard

Author: Stephen Clapham's Podcast on Value Investing | Stockmarket Analysis | Equities October 17, 2024 Duration: 56:20

Lionel Barber is the former editor of the Financial Timesand probably the only journalist on the planet to have interviewed Presidents Obama, Trump and Putin. Under his stewardship, the FT  metamorphosed from a newspaper into a digital subscription business, and was sold to the Japanese company Nikkei for 44xearnings. And as editor, Barber fully backed up former guest Dan McCrum in his investigation of Wirecard.I was delighted when Lionel agreed to come on the show to talk about his new book, Gambling Man, a biography of Masa Son, founder of Softbank and creator of the $100bn Vision Fund. I have long been curious about Son, who for 3 days at the peak of the dot.com boom was the richest man in the world.Barber spent 3 years writing his meticulously researchedbook for which he interviewed 150 subjects, including Bill Gates and Warren Buffett, as he explains in our discussion. Some of his stories, including his description of Son’s inner sanctum, are marvellous.If you enjoy this episode, head over to our Substack, (sign up button on https://behindthebalancesheet.com/), take the monthly paid option and get exclusive additional content, including Steve's interview with Alok Sama, former CFO of Softbank International.


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Stephen Clapham hosts Behind the Balance Sheet, a detailed conversation series that pulls back the curtain on how elite fund managers really think. Each episode is built on the premise that understanding a company requires digging far deeper than headlines or simple ratios. You’ll hear Clapham engage with celebrated investors such as John Armitage, Mario Gabelli, and Bill Nygren, dissecting their actual processes for evaluating businesses and spotting market inefficiencies. The discussions are technical and substantive, focusing on practical frameworks for forensic accounting, navigating capital cycles, and rigorous valuation. This isn’t about hot stock tips; it’s about the disciplined craft of equity research and risk management. The podcast serves as a continuing education for anyone-from dedicated private investors and students to working analysts and portfolio managers-who aims to sharpen their fundamental analysis and develop a more professional, critical investment mindset. Tune in for a masterclass in the principles of value investing, delivered through candid talks with the practitioners who have consistently generated alpha. You’ll come away with a clearer sense of the questions that need asking before any capital is committed.
Author: Language: English Episodes: 65

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