Michael Hanson of Fisher Investments’ The Well-Read Investor Podcast: How to Provide Tangible Value to Your Podcast Audience through Aligned Interest and Passions
By: Tracy Hazzard
Tags: Podcasting Tips, Podcasting, Podcast, Business, Influencers

Can you tell us the “backstory” about why or how you got started as a podcaster?

Smart investors read. For example, Warren Buffet claims to read 500 pages daily. Most investors don’t have the time to read that much! People are busy.

Part of my job as Senior Vice President of Research at Fisher Investments has been what I call a “professional reader.” For the past 20 years, I’ve read 3–5 books a week to stay on top of thinking and research that could influence investment strategy. I was frustrated, though, because I could only share with our clients a few of the authors and ideas I encountered. That’s what led to the podcast.

We launched The Well-Read Investor earlier this year to interview highly influential authors in a variety of fields about who they are, what they’ve written, and how their ideas might help people be better investors by thinking about the world differently. And while some of our guests deal directly with investing, others are experts in completely unrelated fields but still offer invaluable insights.

Can you share a story about the most interesting thing that has happened to you since you started podcasting?

At Fisher Investments, we have a very test-oriented culture and starting this podcast was no exception. We learned an enormous amount about the sheer volume of podcasts that already exist and were surprised to find that a show like The Well-Read Investor didn’t already exist. While this was encouraging, we weren’t sure we could find the right authors to interview, let alone listeners.

We also believe in bootstrapping at Fisher, so we took a shot. We just asked great authors if they’d do the show. We didn’t expect much, but the positive response was overwhelming. Even better, our first few guests loved the concept and provided many good suggestions for other potential guests.

The result has been incredible conversations with authors such as economist Brian Arthur, professor and historian John Lewis Gaddis, and former professional poker player Annie Duke.

Can you share a story about the biggest or funniest mistake you made when you were first starting? Can you tell us what lesson you learned from that?

For one of the very first episodes of the podcast, I was driving to meet Melanie Mitchell, a leading expert on artificial intelligence. I am a huge fan of her work and have followed her ideas closely for years.

On the way to her office in Portland, which is close to where I live, I was so nervous I ended up getting lost for 40 minutes. I drove in circles around town, panicked I’d miss our interview. Luckily, I made it and we had a great conversation.

We’ve also had our share of technology challenges. In a few instances, we had an incredible conversation with a guest, but when I looked over to our recording equipment, I saw a green light that should’ve been red — we didn’t record a single part of the conversation! Thankfully, our guests have been incredibly gracious and supportive as we learned to operate through technical challenges as they arise.

There’s a steep learning curve in podcasting. You’re going to make mistakes. No matter how much you read about best practices, at the end of the day, you can only learn by doing and avoiding those mistakes a second time.

How long have you been podcasting and how many shows have you aired?

We launched The Well-Read Investor this summer. So far, we’ve recorded 12 episodes in which I’ve been able to meet some of my heroes and people I admire greatly. We are very excited to see where we are in a year. More importantly, I believe our listeners have learned a lot — which is why we set out to do this.

What are the main takeaways or lessons you want your listeners to walk away with?

I learned a long time ago from my boss, Ken Fisher, that to succeed as an investor — to truly add value above and beyond what others are doing or just following the herd — you need to have access to information that others don’t, analyze information differently to arrive at a unique conclusion, and constantly question your biases and beliefs. Reading, or in this case, listening to authors from a wide variety of fields and perspectives describe their ideas, thinking, and insights can be incredibly useful tools to do that.

While our goal is to impart new and exciting information to listeners, we also want to inspire people to read more books. With all of the noise and content coming across our screens, people see a lot of words and videos, but much of it is too shallow to impart real knowledge or spark innovative thinking. Good books take you deeper and help shape well-formed arguments.

Mike Hanson, host of The Well-Read Investor shares the best ways to:

1) Book Great Guests. Book people you and your listeners will want to learn from and will find genuinely exciting. Passion for the topic and guest translates into quality content. So far, I’ve picked all the guests. I’ve read their books and am interested in what they have to say. As a result, we have great conversations. I am also open to booking listener-recommended guests. When listeners engage in that way, they’re telling me who they find fascinating and what that guest can teach me. I’m always excited for the opportunity to learn more. 2) Increase Listeners. There are standard tactics like social media promotion, but I think the most important thing to remember is that listeners love a good story. It’s critical to have engaging guests who are willing to open up. Listeners want a peek into the guests’ lives and understand how they came to where they are today. 3) Produce in a Professional Way. Good podcasting is about quality and consistency. Listeners should be able to expect an engaging conversation. That means researching as much as possible, planning questions in advance, and producing a high-quality recording. 4) Encourage Engagement. Our social media team is an essential part of making this podcast a success. Every week, we post quotes from our guests, the books I’m reading that week, and other fun content to engage listeners and attract new ones. 5) Monetize. Monetization isn’t the purpose of this podcast and we have no plans to do so. Our noble purpose in all of this is only to educate listeners on interesting and important topics that can make them better investors. That’s not to say there’s anything wrong with monetization. Profit motive is a powerful force! But if you want to make money podcasting, my advice is to just focus on making a great product. Everything else will come from that.

From your vantage point, what are some of the reasons why a person should consider creating a podcast series?

At Fisher Investments, continuous learning is one of our core values. I’m passionate about learning, thinking deeply about different topics, and trying to expand my worldview.

Podcasting is a lot like reading: you do it to learn. So, we created a podcast that would help me and our listeners learn. My advice to anyone looking to create a podcast series would be to align your interests and passions with something that provides real value to others. That’s a good business and life lesson generally — think about how you add value to others’ lives.

Nowadays it seems as if everyone is trying to jump on the podcast bandwagon. Are there people to whom you would advise to avoid podcasting and instead focus on another medium?

As a podcaster, you have to be passionate and willing to put in the work to generate a high-quality listener experience. You also need to book guests that are exciting to you. That means providing a positive guest experience as well.

If you are not able or willing to make the commitment needed to produce that consistent listener experience, but still want to explore a topic you are passionate about, it may be better to write a blog. Podcasting may seem easy, but it’s a particularly difficult medium if you’re not willing to put in the work.

How has your position as a podcast host and a person of high authority, impacted your business, sales, and/or increased your opportunities? Can you share a story with us?

We’ve gotten an incredible response from listeners. I’ve received emails from clients who have picked up a book we discussed on the show or have encouraged their children, grandchildren, and other relatives to pick up the book to read. It’s incredibly encouraging to see such a direct impact on the listener.

One comment that really stuck out to me was from a listener who said they learn something in every episode that changes their views. That’s really why we started The Well-Read Investor.

What makes your podcast binge-listenable? What do you think makes your podcast unique from the others in your category? What do you think is special about you as a host, your guests, or the content itself?

Great investing means thinking differently, so we try to present authors and experts with views outside the typical financial press fare.

Our guests span different fields — they’re historians, strategic thinkers, professors, and even professional gamblers. They provide perspectives that are helpful for investment strategy and for life in general.

I aim to bring listeners these perspectives in every episode through a thoughtful, engaging, and high-quality conversation.

Where can our readers find you on Social Media?

Twitter: @Wellreadpod, @michael_hanson

Instagram: @wellreadinvestorpod.

LinkedIn: Michael Hanson

Some of the biggest names in Business, Marketing, and Entertainment read this column. Is there a specific high-value guest (obviously still living) that you would love to interview on your show, and why? He or she might just see this if we tag them!

I’d love to interview George Lucas. He’s an incredible luminary who had the guts to pursue an artistic vision and deliver it in a way that engaged the whole world. He’s a true iconoclastic talent. He reminds me of my forever and recently departed hero, Eddie Van Halen. Such individuals invent new ways of thinking that change their industries forever. If you understand how to recognize that kind of genius, you’ll be a better investor.