The Business Brew
Hosted by Tobias Carlisle
Long-form, unscripted conversations where private investor Bill Brewster and his guests dig into the weeds of finance and capital allocation.
A long-form interview show where private investor Bill Brewster simulates the unscripted, 'riffing' conversations that happen behind the scenes in the finance world. Each episode is a deep dive with a fellow investor or analyst, often dissecting a single company, a guest's portfolio, or a niche sector like biotech. The show explicitly favors a laid-back, conversational style over a rigid, formal interview.
“The show's explicit rejection of 'prepackaged material' in favor of a casual, 'old school' conversational flow where the host and guest 'just riff' is its primary distinction. The host frequently plays devil's advocate, challenging a guest's thesis to test its durability.”
Who hosts this show
The Business Brew was started by private investor Bill Brewster to counteract the "prepackaged material" common in financial podcasting. The show's mission is to have long-form, in-depth discussions about finance, capital allocation, and the psychology of investing. Bill manages a portfolio under Sullimar Capital Group and aims to replicate the thought processes of investors like Warren Buffett and Charlie Munger, while also being influenced by others like Bill Miller and Stan Druckenmiller. The podcast grew out of a friendship with Tobias Carlisle and Jake Taylor, with whom he co-hosts "Value: After Hours".
Credentials & credits
- Private Investor
- Founder and Portfolio Manager, Sullimar Capital Group
- CFA Charterholder
Other ventures
- Co-host, Value: After Hours podcast
What kind of podcast
- Country
- United States
- Region
- usa
When new episodes drop
- 01Another FDA vs uniQure EpisodeMay 7, 2026 · 1h 21m
- 02Revisiting Fairfax FinancialApr 30, 2026 · 1h 32m
- 03Evan TindellApr 24, 2026 · 1h 38m
- 04Sonu Chawla - Managing Mid Cap Exposure - $TSCMMar 30, 2026 · 1h 12m
- 05uniQure vs the FDA - Prasad OUT after the pod dropped.Mar 8, 2026 · 1h 35m
- 06Jacob Shapiro on Geopolitics!Mar 7, 2026 · 1h 03m
- 07Investing UnscriptedFeb 13, 2026 · 1h 26m
- 08Adam WilkFeb 6, 2026 · 1h 22m
Notable episodes
- 01Revisiting Fairfax Financial
A follow-up episode with returning guests that exemplifies the show's format of tracking a thesis over time, diving deep into a single company's performance, culture, and valuation.
- 02Another FDA vs uniQure Episode
Highlights the show's willingness to tackle complex, niche topics like biotech FDA approvals, including the ethical dilemmas and investment implications from a patient-centric viewpoint.
- 03Evan Tindell
A prime example of the show's laid-back, 'riffing' style, where the host uses a guest's investor letter as a launchpad for a broad conversation on market froth, AI, and international stocks.
What you'll be asked on this show
Bill Brewster's interviews are intentionally casual and conversational, designed to feel like two investors talking shop. He often opens by referencing a guest's previous appearance or a recent article or investor letter they've written. His opening questions are broad, designed to get a high-level view of the guest's current mindset (e.g., "Where is your head at now?") or experience ("How was the meeting?"). A signature technique is to play devil's advocate, directly challenging a guest's bullish point with a common critique (e.g., "Isn't over-reserving just playing accounting games?") to test the strength of their argument. The conversations are fluid and described as "riffing," moving from topic to topic organically rather than following a strict Q&A format.
This is a single-host, long-form interview podcast. Host Bill Brewster uses a guest's recent investor letter or a specific company as a jumping-off point for a wide-ranging, conversational exploration. He is known for playing devil's advocate and describes the show's style as a 'laid-back old school business brew conversation'.
Questions Tobias Carlisle keeps coming back to
8 cataloguedIf you're going on this show as a guest, expect some version of each of these. Each note explains when Tobias Carlisle reaches for it.
process
4- Q.01
“After another year of watching the market, where is your head at now?”
A common opening question to get a guest's broad, current perspective on the market and macro environment.
- Q.02
“How was the [annual] meeting?”
Used to kick off a discussion about a specific, timely event like a company's annual meeting.
- Q.03
“Does meeting the patients obscure objectivity, or does it actually benefit the analysis?”
The host asks this to explore the psychological and emotional impact of deep research on an investor's process.
- Q.04
“How has [a recent book or article] helped you understand the company's history?”
This question grounds the conversation in a specific piece of media to explore its impact on the guest's analysis.
money
1- Q.01
“Where do you see the undervaluation in the book?”
This question pushes guests to provide specific evidence for a claim they've made about a company being undervalued.
controversy
2- Q.01
“Isn't [a company's conservative practice] just playing accounting games to release earnings later?”
A classic devil's advocate question, where the host voices a common skeptical take to see how the guest refutes it.
- Q.02
“Is it possible the [doctors/experts] are just looking for rays of hope in a desperate community?”
Another form of devil's advocate, this question probes for potential bias and groupthink within a specialized field.
future
1- Q.01
“What's a reasonable mid-term estimate for your [key metric, e.g., combined ratio]?”
Asks the guest to provide a concrete, forward-looking number to quantify their thesis.
Signature segments
- · Fuck it, we'll do it live.
Topics covered repeatedly
Who gets booked here
Guests are typically other investors, fund managers, and analysts who have a specific, often public, thesis to discuss. The show frequently features returning guests to provide updates on their theses and market views.
- Peter Mantison Another FDA vs uniQure Episode
- Asheef Lalanion Revisiting Fairfax Financial
- Charlie Frischeron Revisiting Fairfax Financial
- Evan Tindellon Evan Tindell
- Sonu Chawlaon Sonu Chawla - Managing Mid Cap Exposure - $TSCM
- Jacob Shapiroon Jacob Shapiro on Geopolitics!
- Adam Wilkon Adam Wilk
Where to find this show
Audience & reach
Sponsors mentioned include financial data platforms like Fiscal.ai and Trotta. The host delivers detailed, personal endorsements, suggesting a good fit for B2B or prosumer financial technology and data services targeting a sophisticated audience of active investors and analysts.
Subscriber and view counts are pulled live from YouTube and re-verified on a 30-day cycle. Listener estimates for the RSS feed aren't published here unless they're host-verified.
Pitch Tobias Carlisle
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People also ask
- Who is the host of The Business Brew?
- The host is Bill Brewster, a private investor and founder of Sullimar Capital Group.
- What is the format of the podcast?
- It is a long-form interview show featuring casual, in-depth conversations with investors and business people about their philosophies and analyses.
- Is this podcast still active?
- Yes, the podcast releases new episodes on a regular basis, typically multiple times a month.
- Who is this podcast for?
- It is aimed at investors and business people who enjoy deep, unscripted discussions on finance, capital allocation, and investment psychology.
- How can I be a guest on the show?
- The official website has a contact form for potential guests interested in appearing on the show.
- Where can I listen to The Business Brew?
- The podcast is available on major platforms like Apple Podcasts and Spotify, as well as on YouTube.
Built from the show's public RSS feed, YouTube, the host's own websites, and the cited sources below. Computed and AI-extracted fields are labelled. Facts only — no private info, no fabrication, no transcripts republished.
Sources & how this page was built
This page is AI-assisted, grounded in the public sources cited below, and host-verifiable. We publish facts only; we do not republish transcripts. If anything here is wrong, the host can claim and correct the page above.Model: gemini-2.5-pro · high confidence
- [01]Official Websitethebusinessbrew.com
- [02]About The Business Brewthebusinessbrew.com
- [03]The Business Brew - YouTube Channelyoutube.com
- [04]Podchaser: The Business Brewpodchaser.com
- [05]Hanging Out with Bill Brewster, Founder and Portfolio Manager of Sullimar Capital Groupyoutube.com
- [06]Value: After Hours Podcastgreenbackd.com
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