#89 Matt Franz on Surely You're Joking, Mr. Feynman!

Matt Franz from Eagle Point Capital joins the podcast to share his investing lessons from Richard Feynman. Feynman was a curious adventurer, who won the Nobel Prize for Physics in 1965, but probably also would’ve been a great investor.

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Our conversation with Matt Franz was recorded on 29 Sept 2026. The thumbnail image was generated with AI.

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For more info about the podcast, follow us on X/Twitter. We love to hear your thoughts, so please rate and review us. And feel free to tell us about great authors, books, and investors. Thank you. /Eddie with team

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Episode Chapters

(00:00) Intro by Eddie

(00:50) Welcoming Matt

(01:16) Matt’s background

(09:31) Introducing the book Surely You’re Joking Mr. Feynman

(11:54) Explaining the book’s title

(13:45) Feynman’s character

(15:19) Matt’s curiosity

(17:20) Multidisciplinary vs. Domain expert

(22:06) Separate knowledge and predictions…

(26:10) … in investing

(27:54) Lindy effect

(28:44) Cockroach-like businesses

(30:56) The importance of why

(34:21) Curiosity and culture in a business

(39:58) Feynman’s courage to speak the truth

(42:58) Two common truths to be skeptic about in investing

(46:39) What would’ve made Feynman a great investor?

(51:21) Feynman’s struggles as an investor

(52:54) "The first principle is that you must not fool yourself — and you are the easiest person to fool."

(55:35) Matt’s firm Eagle Point Capital

(01:00:10) Investment philosophy development

(01:02:16) Daily life as an investor

(01:04:30) Ambitions for the next decade

(01:07:37) Reading recommendations

(01:10:46) Writing and book ideas

(01:11:22) Concluding remarks

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Books Mentioned

• Surely You’re Joking Mr. Feynman – Ralph Leighton and Richard Feynman
• Buffett’s Shareholder Letters
• Investing: The Last Liberal Art – Robert Hagstrom
• Howard Mark’s memos
• Nomad Letters – Nick Sleep
• Market Wizards’ books
• The Alchemy of Finance – George Soros
• A Man for All Markets – Edward Thorp
• Thinking, Fast and Slow – Daniel Kahneman
• Ron Chernow’s books
• Books about: Copart, Dominos Pizza, Tractor Supply, AMEX
• Endurance – Alfred Lansing

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Companies Mentioned

• Visa
• Berkshire Hathaway
• Brookfield Corporation
• Vitec Software
• Toyota

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More on Matt Franz

• Substack: https://eaglepointcapital.substack.com/
• Website: https://www.eaglepointcap.com/

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About the Podcast

Intro episode: https://www.redeye.se/podcast/investing-by-the-books/817383/0-intro-to-investing-by-the-books

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What is Investing by the Books?

Investing by the Books was founded by Henrik Andersson, Bo Börtemark, Mats Larsson and Michael Persson. It has published hundreds of book reviews in the past 10 years and operates on a non-profit basis.

Visit the website: http://www.investingbythebooks.com/

Follow on Twitter/X: https://twitter.com/Investbythebook

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What is Redeye?

Redeye is a research-centered boutique investment bank from Stockholm. Founded in 1999, Redeye cultivates investors through timeless knowledge, a humble attitude, and a strong focus on quality.

Visit the website: https://www.redeye.se/

Follow on Twitter/X: https://twitter.com/Redeye_

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Disclaimer

Notice that the content in this podcast is not, and shall not be construed as investment advice. This information is meant to be informative and for general purposes only. For full disclaimer, visit Redeye.se