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4,302 tagged segments · 1985–2026

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19852026

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OtherInterview2026-03-05conf:low

Squawk Pod: Berkshire's New CEO Greg Abel — 03/05/26

“On this, the yays are 47, the naysay are 53. The motion to discharge is not approved. The Senate voting down an effort to stop America's involvement uh in the Iran war. The vote on the so-called war powers resolution was 47 in favor to 53 opposed. It was largely along party lines. Passage would have meant senators would have a say before future US attacks. The House is set to vote on a resolution today. Uh even uh Senator Federman who voted uh no on it. Ran Paul went the other way and voted yes on it. But uh the the Federman was pointing out this is this is all for”

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OtherInterview2026-03-05conf:low

Squawk Pod: Berkshire's New CEO Greg Abel — 03/05/26

“All right. Right. In the meantime, the CEO of Anthropic still trying to reach a deal with the Pentagon on use of his company's AI. The Financial Times says that Anthropic chief Dario Amodi has been speaking with an under secretary of defense in an effort to define how the Pentagon could use the company's technology. An agreement could mean that Anthropic avoids the designation of supply chain risk. Reuters is reporting that Emodi has spoken about this situation in recent days with Amazon CEO Andy Jasse and others. Separately, in a letter that was shared with CNBC, a group of former defense and intelligence officials and policy experts called for Congress to investigate the Pentagon's decision to designate Anthropic as that supply chain risk. And without naming Anthropic, a tech industry group whose”

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OtherInterview2026-03-05conf:low

Squawk Pod: Berkshire's New CEO Greg Abel — 03/05/26

“Anthropic, a tech industry group whose members include Nvidia, Google and Anthropic voiced concern to the defense department over that supply chain risk designation. In the meantime, the FT reports that OpenAI is looking to add to protections to its own agreement that was reached recently with the Pentagon. That deal has faced criticism from OpenAI employees and CEO Sam Alman admitted that in his words the timing of that deal looked both opportunistic and sloppy and there is fallout kind of on all sides of this. It's a continuing conversation. We've been having the discussion here all week on set um going back and forth about what should happen. We brought it up yesterday with Treasury Secretary Bessant. just this idea. It's one step to say you're not going to use the techn technology. It's quite another thing to say that this is a supply chain”

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OtherInterview2026-03-05conf:low

Squawk Pod: Berkshire's New CEO Greg Abel — 03/05/26

“And there's nothing close sorcin I mean for for what it's used for uh in in this context there's there's nothing and it's we're still using it right even though we say we're not we still are right. No, look, the the we're going to be using the defense department is going to be using Anthropic, I imagine, at least for the next six months as they get offboarded uh and maybe onboard other models. In this particular moment, yes, Claude and and the product that Anthropic provides is probably the quote unquote best product. Having said that, it's possible in two months from now that the next version of of what OpenAI is doing will be the best version of it. may be that Google is the best version”

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OtherInterview2026-03-05conf:low

Squawk Pod: Berkshire's New CEO Greg Abel — 03/05/26

“excuse me, may or may not exist going forward. I where there's that you canforward. I where there's that you canforward. I where there's that you can see an opportunity and we would uhsee an opportunity and we would uhsee an opportunity and we would uh pursue or deploy capital. But if we sawpursue or deploy capital. But if we sawpursue or deploy capital. But if we saw an opportunity that that made sense toan opportunity that that made sense toan opportunity that that made sense to us, absolutely.us, absolutely.us, absolutely.”

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OtherInterview2026-03-05conf:low

Squawk Pod: Berkshire's New CEO Greg Abel — 03/05/26

“>> Absolutely. We look>> Absolutely. We look>> Absolutely. We look >> Yeah. Let me think about it. You can>> Yeah. Let me think about it. You can>> Yeah. Let me think about it. You can have some time if you want. Youhave some time if you want. Youhave some time if you want. You >> No, we don't need to pause on those. and>> No, we don't need to pause on those. and>> No, we don't need to pause on those. and and uh you know we still it it's not aand uh you know we still it it's not aand uh you know we still it it's not a distress time but we still receive thosedistress time but we still receive thosedistress time but we still receive those calls even today. Warren receives them”

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OtherInterview2026-03-05conf:medium

Squawk Pod: Berkshire's New CEO Greg Abel — 03/05/26

“We'll be right back.>> And that's it for Squawk Pod today.>> And that's it for Squawk Pod today.>> And that's it for Squawk Pod today. Thanks for listening. Squawkbox isThanks for listening. Squawkbox isThanks for listening. Squawkbox is hosted by Joe Kernan, Becky Quick, andhosted by Joe Kernan, Becky Quick, andhosted by Joe Kernan, Becky Quick, and Andrew Ross Sorcin. Tune in weekdayAndrew Ross Sorcin. Tune in weekdayAndrew Ross Sorcin. Tune in weekday mornings on CNBC at 6 Eastern to get themornings on CNBC at 6 Eastern to get themornings on CNBC at 6 Eastern to get the smartest takes and analysis from our TVsmartest takes and analysis from our TVsmartest takes and analysis from our TV show right into your ears. Followshow right into your ears. Followshow right into your ears. Follow SquawkPod wherever you get yourSquawkPod wherever you get yourSquawkPod wherever you get your podcasts. Have a great day. We'll meetpodcasts. Have a great day. We'll meetpodcasts. Have a great day. We'll meet you right back here tomorrow.you right back here tomorrow.you right back here tomorrow.”

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OtherPodcast2026-01-13conf:low

The Multidisciplinary Approach to Thinking | Peter D. Kaufman [Outliers]

“departments. Problems don't come with labels like economics or psychology or biology. They comeunlabeled and interconnected. They're usually super messy. The financial crisis of 2008, for example,wasn't really a financial problem. It was a psychology problem, an incentives problem wrappedin a complexity problem. The range of specialists couldn't see it because they could only see theworld through one lens. Peter illustrates the danger of such specialization with a Japaneseproverb, the frog in the well knows nothing of the mighty ocean. We see this constantly in our worldtoday. A brilliant engineer builds a complex product nobody wants because they don't understandhuman behavior. A talented marketer destroys a brand because she doesn't understand its historyor its relationship with customers. A skilled investor blows up because he understands spreadsheetsbut not his own cognitive biases. Each one is a master in one area but struggles in the complexsystems of life. They know the well, not the ocean. So Peter advocates for learning the big ideas fromall the different disciplines. The person who understands the big ideas is more likely to seethe connections that the specialists miss. They spot risks that don't show up in any singledepartment's models. They notice when something that works is theory is about to fail in practice.But Peter admits the problem is practical. There's just too many fields, the books are too numerousand too thick, and you don't have time to master everything the way Charlie Munger did in his 99years. So Peter found a shortcut. Picture a middle-aged man walking into a coffee shop inSouthern California. It's early, before the morning rush. He's carrying a binder full of paper, severalhundred pages. He orders his usual, finds his seat by the window, and opens the binder and begins toread. And he does this every morning for six months. Peter had discovered that Discover magazine had 12years of archives posted online. And every single month they interviewed an expert from some domainof science and published a six- or seven-page article for a general audience. These weren'tdumbed-down summaries. They were the experts of their field, the cream of the crop, bringing theirA-game, using their best stories and their clearest language to communicate the most important ideasin their work. So Peter printed all of them. Then he read them in what he calls index fund style,”

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OtherPodcast2026-01-13conf:low

The Multidisciplinary Approach to Thinking | Peter D. Kaufman [Outliers]

“which means he read them all. He didn't pick and choose, just one after another. Every single dayfor six straight months. This is the universe, he said, and I'm going to own the whole universe.And if he had been left to his own preferences, he admits he probably only would have read a fewof them. A few would have piqued his interest. He never would have voluntarily read six pages onnanoparticles. But after he had completed his reading, that's exactly where he found some ofhis best ideas. Over their six months reading across unfamiliar domains, Peter started torecognize something in each seemingly unrelated article. That's exactly how it works over herein biology. That's exactly how this works over here in human nature. These Discovery articlesare super hard to find today. And this is one of the reasons that I actually created the GreatMental Models series was to help people learn and apply the big ideas from physics, chemistry, math,economics, and more. And you have to know them all because if you pick and choose, you're going tomiss the parabolic ideas that nobody sees. Reading broadly showed him the biggest ideas were hidingin arcane places. Nobody else was looking. It's why index fund reading beats selective readingbecause it allows you to capture the information that most people miss. But being multidisciplinarycreated a new problem. How do you know which ideas are actually true? And Peter came up with a cleversolution to this problem that drew on statistics. As he put it, a statistician's best friend isa large relevant sample size. And why? Because a principle derived from a large relevant samplesize can't be wrong. The only way it could be wrong is if the sample size is too small or thesample itself is not relevant. So Peter tested every important idea against what he calls histhree buckets, the three largest relevant sample sizes he could think of. Bucket number one was 13.7billion years of the inorganic universe. This is physics, geology, chemistry, everything that isn'talive. And this was the largest sample size in existence. And bucket number two is 3.5 billionyears of biology on Earth. As a biological creature, this is directly relevant to us. Andbucket number three is sort of the 20,000 years or so of recorded human history. This is the mostrelevant of all. It's our stories, our species, our nature. When a principle shows up consistentlyacross all three buckets, when it's true in physics and true in biology and true throughout”

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OtherPodcast2026-01-13conf:low

The Multidisciplinary Approach to Thinking | Peter D. Kaufman [Outliers]

“human history, you can trust it completely. As Peter says, you see these things lined up likethree bars on a slot machine, and boy, do you hit the jackpot. Peter tested his new framework withan ambitious question. Is there a simple two-word description that accurately describes howeverything in the world works? And Peter says yes. And he proves it by checking it across all threeof his buckets. So let's start with physics. Newton's third law states that for every action,there's an equal and opposite reaction. If you push down on a table, the table pushes back withequal force. If you push twice as hard, the table will push back twice as hard. This has been truefor billions of years. So what's the pattern? Reciprocation. But not just any reciprocation,perfectly mirrored reciprocation. Now we turn to biology. And Peter references Mark Twain'sobservation that a man who picks up a cat by its tail will learn a lesson that he can learn in noother way. And I don't recommend doing this. Please just imagine it in your head. But if you pick up acat by its tail, it will undeniably scratch you. If you treat the cat disagreeably, you getdisagreeable back. But if you were to gently pick up the same cat, stroke it, pet it, it will startlicking your hand soon after. Agreeable in is agreeable out. So what is this? This is mirroredreciprocation in action. And next we can turn to the third bucket. And Peter observes that yourentire life, every interaction you've ever had with another being is merely mirrored reciprocation.And I know you're probably thinking, it can't be this simple. And Peter sort of anticipates thisobjection. So he tells the audience, it is this simple. It doesn't mean it's not sophisticated.This is a very sophisticated model we just derived, isn't it? We looked into the threelargest sample sizes that exist, the three most relevant, and they all said exactly the samething. Do you think we can bank on that? Well, 100% we can bank on that. Simple does not meansimplistic. A principle verified across 13.7 billion years of evidence is as solid as knowledgeas we can get. And Peter uses what he calls the elevator example to illustrate mirroredreciprocation. So you're standing in the front of an elevator, the door opens and inside walks astranger you've never met. So you step in. You have three choices in that moment. Choice numberone is you can smile and say good morning. Peter claims that in California, 98% of the time a”

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OtherPodcast2026-01-13conf:low

The Multidisciplinary Approach to Thinking | Peter D. Kaufman [Outliers]

“stranger will smile and say good morning right back. This episode is brought to you by FedEx.These days, the power move isn't having a big metallic credit card to drop on the check ata corporate lunch. The real power move is leveling up your business with FedEx intelligence andaccessing one of the biggest data networks powered by one of the biggest delivery networks.Level up your business with FedEx, the new power move.Choice number two is you can scowl and hiss at the stranger for no reason. And 98% of the time,the stranger will scowl and hiss back at you. And choice three is you do nothing. And thisis the choice that most people make. And you almost always get nothing back. Whatever youput out, you get back. But, and this is the crucial insight, you have to go first. Peterconnects this to a pattern he sees everywhere. This is why these bars are full of people at 2amdrowning their sorrows. They're knocking down these drinks. When's the world going to give mesomething, man? When am I going to get mine? Well, what did you ever do? Did you get up in the morningand smile at the world? No. You either did nothing or you scowled and hissed at the world and you'regetting back exactly what you would expect to get back if you understood how the world really works.So why don't more people go positive first? Daniel Kahneman himself answered this and it's what wonhim the Nobel Prize. The human brain weighs potential losses far more heavily than they doequivalent gains. We'll sacrifice 98% upside to avoid a 2% chance of rejection or embarrassment.Peter also quotes baseball legend Lou Brock, show me a man who's afraid of appearing foolish andI'll show you a man who can be beat every time. Or you can think about this the same way that I do.So much advantage in life comes from being willing to look like an idiot in the short term. Willingto be uncomfortable. My friend Harley Finkelstein has a great way of framing this too. He calls itcringe tolerance and it's something most people can't get over. If you can get over the momentaryfear of looking like an idiot, the uncomfortableness of that, then you can accomplish amazing things.For example, I send a lot of cold emails and text messages to anyone I'm interested in having on theshow and learning from and it works. And sure, I get rejected a lot but I expect that going in andthe amazing connections I develop are more than worth the few who don't reply. And Peter tests”

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OtherPodcast2026-01-13conf:low

The Multidisciplinary Approach to Thinking | Peter D. Kaufman [Outliers]

“another question against his three buckets theory. What is the most powerful force in the world thatwe can harness? In the inorganic universe, he cites Einstein calling compound interest the mostpowerful force in the universe. The greatest mathematical discovery of all time and the eighthwonder of the world. And Einstein observes that those who understand compound interest get paidby it and those who don't pay for it. Peter's working definition of compound interest is doggedincremental constant progress over a long period of time. So check bucket two. What about biology?Well, what's the most powerful force in the 3.5 billion years of life? Evolution. And how does itwork? Dogged incremental constant progress over a very long time frame. And what about humanachievement? Well, we have winning. We have Olympic gold medals. We have mastering an instrument,learning a language, and building Berkshire Hathaway. What's the formula? It's the exactsame one. Dogged incremental constant progress over a long period of time. Three buckets, sameanswer. This is jackpot. Compound interest. If compounding is such a powerful force, why doesn'teveryone harness it? And Peter says it's because humans hate being constant. The picture he paintsis very vivid. We're the functional equivalent of Sisyphus pushing his boulder up the mountain. Youpush it halfway and you go, I'll come back and do this another time. And so the boulder rolls backdown. I've got this great idea. I'm going to really work hard on it. And you'll push it halfwayup and, ah, you know, I'll get back to this next month. That is the human condition. And this isvery in-string. Every interruption to constant progress breaks compounding. You fall off theexceptional curve and onto a linear one. Or worse, you start sliding backwards. And when Peter askshow many people are truly constant, he names two from his own experience, Warren Buffett and CharlieMunger. I'm quoting him here. He says, everybody wants to be rich like Warren Buffett and CharlieMunger. And I'm telling you how they got rich. They were constant. They were not intermittent.I love that line. They were not intermittent. I use it as a lens on my own life now, asking myself,where am I being intermittent and not constant? The workout routine that doesn't stick, thejournaling habit that fills pages in January every year and goes silent by February, the book youwere definitely going to start or finally finish, the language that you were absolutely going to”

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OtherPodcast2026-01-13conf:low

The Multidisciplinary Approach to Thinking | Peter D. Kaufman [Outliers]

“learn and get better at before your trip, each one of those is like a boulder partway up the hillthat you walk away from. And then what happens? Well, what's humbling is that we know the math.We understand compounding. We can explain it to others. But knowing isn't the hard part. Beingconstant is the hard part. The line is haunting because it references success. It's not aboutintensity. It's not about that big push, that heroic effort, that all-nighter. It's about thething you did yesterday and the day before and the day before that. It's all about what you'lldo tomorrow and the day after that, mostly with no fanfare and no applause. You'll be doing it alonemost of the time. Here's the key lesson. Intensity is overrated and consistency is underrated.Peter also believes that all humans are fundamentally identical in what they want.He asks his audience, how many of you want to be paid attention to, listened to, respected? Howmany want meaning, satisfaction, and fulfillment, the sense that you matter? How many want tobe loved? And every single hand goes up. Everybody's exactly the same, Peter observes. The onlydifference is the strategy that they're employing to try to get to fulfill those needs. He illustratesthis with what he calls the strategy that dogs use. In Peter's telling, your dog goes to thefence and tells the neighbor's dog, can you believe how easy it is to manipulate human beings and getthem to do whatever you want them to do for you? And the neighboring dog agrees. I know, it's apiece of cake. The secret, all you have to do is every single time they come home, you greet themat the door with the biggest unconditional show of attention that they've ever gotten in theirwhole life. And you only have to do it for about 15 seconds and then you can go back to doingwhatever you were doing before and completely ignore them for the rest of the evening.However, you have to do this every single time they come home. And the result, the human willdo anything for that dog. It will feed it, it will walk it, it will care for it completely. All for 15seconds of genuine attention. Peter's lesson here is all you have to do if you want everything inlife from everybody else is first pay attention, listen to them, show them respect, give them meaning, satisfaction, and fulfillment. Convey to them that they matter to you and show you love them.But you have to go first. And what are you going to get back? You're going to get back mere”

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OtherPodcast2026-01-13conf:low

The Multidisciplinary Approach to Thinking | Peter D. Kaufman [Outliers]

“employees into unfavorable contracts. Peter frames this through game theory. You take game theory andyou insert the word lose in any scenario in game theory and what do you have? A suboptimal outcome.What happens when you insert win-win in game theory scenario? What do you get? You get the optimaloutcome every time. Achieving win-win requires understanding what Peter calls the basic axiomof clinical psychology. If you could see the world the way that I see it, you'd understand why Ibehave the way that I do. Okay, when I sell my business, I want the best tax and investmentadvice. I want to help my kids and I want to give back to the community. Ooh, then it's the vacationof a lifetime. I wonder if my head of office has a forever setting. An IG private wealth advisorcreates the clarity you need with plans that harmonize your business, your family, and yourdreams. Get financial advice that puts you at the center. Find your advisor at IGprivatewealth.com.And so two things follow from this. First, to understand someone's behavior, you must see theworld as they see it. Second, to change their behavior, you must change how they see the world.Peter gives a business example. Most employees see the world as employees, but what if you couldshift their perspective to that of an owner? Do you think that's going to change how they behave?It totally changes how they behave. Employees don't care about waste. Owners care about waste.Employees don't self-police our place. Owners do. But if you want to listen to a case studyon this example, check out the Outliers episode with Les Schwab. He built a multi-billion dollarbusiness selling tires by treating his employees like owners. His businesses out-competed everycompetitor simply because his employees cared more. Peter has a formula for ensuring you havezero blind spots. He says the secret to leadership is to see through the eyes of all six importantcounterparty groups and make sure that everything you do is structured in such a way to be win-winwith them. So here are the six. Your customers, your suppliers, your employees, your owners,your regulators, and the communities you operate in. When I look back at some of the Outliersepisodes we've covered over the past year, I see repeatedly that the businesses they builtalmost uniformly had win-win relationships with all of these counterparties. And when they misstepped,their businesses stumbled, it's almost always because they reneged on one of these relationships.”

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OtherPodcast2026-01-13conf:low

The Multidisciplinary Approach to Thinking | Peter D. Kaufman [Outliers]

“So if you master these, Peter argues, how many blind spots are you going to have? Zero. How many mistakes are you going to make? Zero. The next point Peter makes is about simplicity. Most people assume complexity is a signal for sophistication, and Peter argues that Albert Einstein disagreed. According to Peter, Einstein listed five ascending orders of cognitive prowess. At the bottom, the lowest level was smart, and then came intelligent. That was the second lowest level, and then you had brilliant, and then genius. However, there is one level above genius, and that's simple. Why does simple beat genius? And Peter gives an empathetic answer because you can understand it. He contrasts a book by Spinoza on ethics, undeniably written by a genuine genius, but it's largely incomprehensible to 99% of us. He compares that with the principles he had just outlined to his audience in less than 30 minutes. Mirrored reciprocation. Go positive and go first. Dogged, incremental, constant progress. Everyone understands every word of his talk. Hardly anyone understands Spinoza. These ideas are simple enough to understand immediately and practical enough to apply today and every day, and that's not a weakness. That's the highest form of thinking. Peter grounds all of this in a stark reality. You have one lifetime. It's finite, and it matters. And when something is both finite and important, opportunity costs must govern your decisions. Choosing option A means not choosing option B, C, D, or E. You have to pick carefully. So how do you want to spend your life? Peter's observation, most people spend it fighting with everybody around them. He's just explained how to avoid that. And in exchange, you get a celebratory life instead of an antagonistic fighting one. He cites an African proverb, if you want to go quickly, go alone. If you want to go far, go together. So his advice, live your life to go far together. Don't live it to go quickly alone. The alternative is becoming Ebenezer Scrooge and reaching the end of your life with wealth, power, fame, but wanting a do-over because you realize at the end of your life, I didn't live my life right. I don't have what really matters. And so the question is, what really matters? And to Peter, it's to have people pay attention to you, listen to you, respect you, show you that you matter and to love you and have it be genuine. The talk closes with a Turkish proverb, no long is road with good company.”

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OtherPodcast2026-01-13conf:low

The Multidisciplinary Approach to Thinking | Peter D. Kaufman [Outliers]

“The essence of a well-lived life is to surround yourself with good company as often as possible.But you have to earn that company. You have to deserve it. You can't buy good company.This reminds me of something that Charlie Munger said, to get what you want, you have to deservewhat you want. The world is not yet a crazy enough place to reward a whole bunch of undeservingpeople. In Peter's words, this is my strategy for getting those five things. You can developyour own strategy, and I hope it involves going positive and going first. Go positive,go first and be constant in doing it. There may be no better formula for living the bestlife you could possibly live. Thanks for listening. I'll see you next week.”

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OtherPodcast2025-10-14conf:low

Tracy Britt Cool: Building Great Businesses

“The Knowledge Project PodcastTracy Britt Cool is the co-founder of Kanbrick where she is applying what she learned at Berkshire Hathaway to the middle market.In this episode, you'll learn how she went from writing a cold letter to Buffett to being sent in to fix struggling Berkshire subsidiaries, how to evaluate a business, the types of people to avoid at all costs, the mistake almost every makes when hiring, the three elements of long term thinking, and so much more.Lessons from BerkshireThe Three Elements of Long Term ThinkingTuring Around a Declining BusinessEvaluate a Business like BuffettWhat Most People Get Wrong When Hiring(This is a rare case where the public and private feeds vary. The private feed is about 15 minutes longer and contains details that 99 percent of people won't care about. If you're one of the 1%, you can sign up here .)Available Now: Apple Podcasts | Spotify | Youtube | X | TranscriptA compression of things that stood out to me from my research and this conversation.These were mentioned in the episode.”

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OtherPodcast2025-05-17conf:low

RWH057: Celebrating Warren Buffett w/ Joel Greenblatt, Nick Sleep, Tom Russo, Christopher Bloomstran, Chris Davis

“In this special celebratory episode, William Green spotlights some of the most important lessons from the greatest investor of all time: Warren Buffett. In honor of Buffett's historic decision to retire after 60 years as Berkshire Hathaway's CEO, William offers his thoughts on Buffett's legacy & Berkshire's future; he also shares powerful highlights from his conversations about Buffett with Joel Greenblatt, Nick Sleep, Thomas Russo, Chris Davis, Chuck Akre & Christopher Bloomstran. Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.”

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OtherPodcast2025-05-17

RWH057: Celebrating Warren Buffett w/ Joel Greenblatt, Nick Sleep, Tom Russo, Christopher Bloomstran, Chris Davis

“You are listening to the Richer, Wiser, Happier Podcast where your host, William Green, interviews the world's greatest investors and explores how to win in markets and life.Help us reach new listeners by leaving us a rating and review on Spotify ! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Support our free podcast by supporting our ⁠ ⁠ sponsors ⁠ ⁠ :Disclosure: The Investor's Podcast Network is an Amazon Associate. We may earn commission from qualifying purchases made through our affiliate links. In this special celebratory episode, William Green spotlights some of the most important lessons from the greatest investor of all time: Warren Buffett. In honor of Buffett's historic decision to retire after 60 years as Berkshire Hathaway's CEO, William offers his thoughts on Buffett's legacy & Berkshire's future; he also shares powerful highlights from his conversations about Buffett with Joel Greenblatt, Nick Sleep, Thomas Russo, Chris Davis, Chuck Akre & Christopher Bloomstran.”

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OtherPodcast2025-05-17conf:low

RWH057: Celebrating Warren Buffett w/ Joel Greenblatt, Nick Sleep, Tom Russo, Christopher Bloomstran, Chris Davis

“You are listening to the Richer, Wiser, Happier Podcast where your host, William Green, interviews the world's greatest investors and explores how to win in markets and life.Help us reach new listeners by leaving us a rating and review on Spotify ! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Support our free podcast by supporting our ⁠ ⁠ sponsors ⁠ ⁠ :Disclosure: The Investor's Podcast Network is an Amazon Associate. We may earn commission from qualifying purchases made through our affiliate links. In this special celebratory episode, William Green spotlights some of the most important lessons from the greatest investor of all time: Warren Buffett. In honor of Buffett's historic decision to retire after 60 years as Berkshire Hathaway's CEO, William offers his thoughts on Buffett's legacy & Berkshire's future; he also shares powerful highlights from his conversations about Buffett with Joel Greenblatt, Nick Sleep, Thomas Russo, Chris Davis, Chuck Akre & Christopher Bloomstran. Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.”

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OtherPodcast2025-05-17

RWH057: Celebrating Warren Buffett w/ Joel Greenblatt, Nick Sleep, Tom Russo, Christopher Bloomstran, Chris Davis

“You are listening to the Richer, Wiser, Happier Podcast where your host, William Green, interviews the world's greatest investors and explores how to win in markets and life.Help us reach new listeners by leaving us a rating and review on Spotify ! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Support our free podcast by supporting our ⁠ ⁠ sponsors ⁠ ⁠ :Disclosure: The Investor's Podcast Network is an Amazon Associate. We may earn commission from qualifying purchases made through our affiliate links.”

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OtherPodcast2025-05-15

TIP717: Berkshire Hathaway 2025 w/ Chris Bloomstran

“Stig, I think well, it's the most important thing. If you listen to the last year's annual meeting, which was the first time we didn't have Charlie. It was a pretty emotional day. I've listened to the afternoon session. I would, I'd direct everybody to the afternoon session, which you can listen to it on the podcast app.”

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OtherPodcast2025-05-15

TIP717: Berkshire Hathaway 2025 w/ Chris Bloomstran

“You can go to the CNBC and watch, but there was so much, there was so much information and wisdom in that last hour and a half or whatever it was. And a lot of it was life advice and reflection, you know. And I think the second to last question, Warren was asked really kind of a question I didn't like, but it had to do with his, his, his early years when he had a family and young kids and he worked all the time.”

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OtherPodcast2025-05-10

TIP721: Berkshire Hathaway Annual Shareholders Meeting 2025

“In this episode, Clay and Kyle reflect on their weekend at the Berkshire Hathaway annual shareholders meeting in Omaha and play a few of their favorite clips from the Q&A session with Warren Buffett, Greg Abel, and Ajit Jain. Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.”

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OtherMeeting2025-05-05conf:medium

2025 Annual Meeting Highlight Reel

“A. Warren? Yep. I'm happy a friend did call. So that still works. Peter Eastwood, who runs one of our Berkshire subsidiaries and does a great job of running it, track down that Portellos is owned by a private equity firm called Berkshire Partners. So that was the basis of the question, but it's not associated with Berkshire. So we got to the bottom of that one. Yeah. Thank you, Peter.”

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OtherMeeting2025-05-05

Afternoon Session - 2025 Meeting

“Okay. Station 10. Good morning, Mr. Buffett and Mr. Abel. I'm Dorcas Tang. I'm 14 years old. My father, Moortang, M-G-R-T-C-E-O, brought me here for two consecutive years. And I promise I will come back every year since I queue up at two in the morning, every meeting you hold. My dad owned BRKA shares, and he said, I need to work hard to earn my piece of BRKB. We are both from China, Hong Kong, and I would like to ask, what's the essential element for a global teenager like me if we want to be part of Berkshire like Mr. Greg Apple? Like what piece of knowledge I should learn? So you to hire me in the future.”

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OtherMeeting2025-05-05

Afternoon Session - 2025 Meeting

“This question comes from Achit Patel, and it's about the big cap technology stocks. In the 2017 annual meeting, you said, Warren, you really don't need any money to run these companies and referred to them as ideal businesses referring to the big tech companies, Apple, Alphabet, Microsoft, and Amazon. With all of those companies now announcing massive capital investment endeavors around AI ambitions, have you rethought the above comment just in terms of them being asset light and what you think of them as a result?”

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OtherMeeting2025-05-05

Afternoon Session - 2025 Meeting

“Okay, Station 5. Hi, Warren Gregg. My name is Pink Huang Chen. I'm from Taiwan. This is my seven time here. First of all, I want to thank you, Warren, for your generosity of sharing your wisdom and lesson. You changed my life and you're my role model and my hero. And my question is, Warren, you mentioned that Mr. Apple will be in charge of capital allocation in the future. And I'd like to know your perspective on is it easier for a business operator to be an investor or for an investor to be a business operator? Thank you.”

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OtherPodcast2025-02-25conf:low

#380 Four Hundred Pages of Warren Buffett and Charlie Munger In Their Own Words

“David Senra is the host of Founders, where he studies history's greatest entrepreneurs. This is what he learned from reading Buffett and Munger Unscripted: Three Decades of Investment and Business Insights from the Berkshire Hathaway Shareholder Meetings by Alex Morris.For over 30 years the Berkshire Hathaway Annual meetings were recorded. Munger and Buffett answered over 1700 questions from shareholders during that period. Alex Morris watched hundreds of hours of these meetings and then he gathered, organized, and edited the most interesting ideas into 450+ pages — all in Buffett and Munger's own words. I thought it would be fun to rip through a bunch of Munger and Buffett's best ideas very rapidly. It was.This episode is what I learned from reading Buffett and Munger Unscripted: Three Decades of Investment and Business Insights from the Berkshire Hathaway Shareholder Meetings by Alex Morris.Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more .Vesto : All of your company's financial accounts in one view. Connect and control all of your business bank accounts from one dashboard. Go to Vesto and schedule a demo with the founder Ben . Tell him David sent you.Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here .”

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OtherPodcast2025-02-25conf:low

#380 Four Hundred Pages of Warren Buffett and Charlie Munger In Their Own Words

“Join my free email newsletter to get my top 10 highlights from every bookFounders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here ." I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers ." — GarethBe like Gareth. Buy a book: All the books featured on Founders PodcastDavid”

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OtherMeeting2025-01-08conf:low

RARE Charlie Munger 2017 Daily Journal AFTER Interview

“It made it difficult, but you could figure it out. I'm different from Einstein. Of course, I couldn't figure out the puzzles what he did. Can you rephrase that? I don't understand the answer. Well, Einstein has his own slant on. land religion. There's already no conventional theology in Einstein. He's not talking about being nice to other people or anything like that. He just, it must be some God out there that created these wonderful puzzles for me to solve. That's a peculiar kind of a religion. But that was Einstein.”

Open transcript →Watch on YouTube ↗
OtherMeeting2024-05-06conf:medium

2024 Annual Meeting Highlight Reel

“We have only one book at the bookstore of the bookworm this year. Normally we have about 25, but we have poor Charlie's Almanac, fourth edition. And I think we sold about 2,400 of them yesterday, and that will be the only book. Next year, we'll go back to having our usual selection. But we thought we would just turn it over to Charlie this year.”

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OtherMeeting2024-05-06conf:medium

Morning Session - 2024 Meeting

“Yeah, this next question is for both Warren and Ajit. It's from Ben Noel, who's a Minneapolis shareholder, who's been a shareholder since 1995. And he says, in an interview this past year, Todd Cohn. said that in first meeting you in 2010, he told you GEICO is better at marketing and branding, but progressive as a data company and data is going to win in the long run. But it appears you did not prioritize data analytics at GEICO until a decade later when you made Todd's CEO. As business units like GEICO age and need new strategic direction, I wonder if Berkscher's hands-off management approach is a source of vulnerability. Will you please review your thinking on changes made at GEICO and explain how much Berkshire is structured to react if the Berkshire CEO sees that a business unit is strategically off track. And Ajit, I hope you will continue to update us on yours and Todd's progress at remediting the data analytics shortcomings at GEICO. Ajit, would you like to?”

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OtherMeeting2024-05-06

Morning Session - 2024 Meeting

“Yeah. Good morning. My name is Sebastian Zartortar. I'm from Munich, Germany, which I have halfway. It's very respective. respective to this company in Germany. And my question is, who are your most trusted advisors today? Is it Ted and Todd? Is it Greg and Ajit? Is it your wife, your children? And what do you value about them? Thank you.”

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OtherMeeting2024-05-06conf:medium

Afternoon Session - 2024 Meeting

“Okay, let's go to section four. Jeff Robillier from Tulsa, Oklahoma, and I'm thinking of Dr. Graham, Mr. Munger, your father. And my question is for all of us, but it's probably especially for the younger people in the room, the importance of picking the right heroes in life, choosing friends wisely, and maybe tell us a story, if you could, about each of those folks. Thank you, sir.”

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OtherMeeting2024-05-06

Afternoon Session - 2024 Meeting

“Yep. Randy Jeffs from Irvine, California. The March 25th, 2024, Wall Street Journal reported that the Treasury market is about sixfold larger than before the 2008-2009 crisis. Do you think that at some point in time, the world market will no longer be able to absorb all of the U.S. debt being offered?”

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OtherMeeting2024-05-06

Morning Session - 2024 Meeting

“This question comes from Axel Mayer Seek in Hamburg, Germany. What has changed for Berkshire's operating CEOs since Greg Abel and Ajit Jane became vice chairman? For example, can and do the operating CEOs still reach out to Warren Buffett directly?”

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OtherMeeting2024-05-06

Morning Session - 2024 Meeting

“Okay. Station 8. Greg and Ajik. Thank you for having us. Your teachings have not only made us better investors, but more importantly, better people. Thank you for that. My name is Rajiv Agarwal, and I am from New Jersey. I run an India-focused fund called Doodarshi India Fund. My question is related to India. Indian economy and Indian equities have done quite well in the last five, ten, 20 years. It is the fifth largest economy and will be the third largest in the next few years. My question is, is Berkshire actively looking for opportunities in the Indian equity market and what will allow you to buy anything meaningful there? Thank you.”

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OtherMeeting2024-05-06

Afternoon Session - 2024 Meeting

“This question comes from Devin Spurgeon. On March 4th. Charlie's will was filed with the County of Los Angeles. The first codicil contained an unusual provision. It reads, averaged out, my long life has been a favored one, made better by duty imposed by family tradition, requiring righteousness and service. Therefore, I follow an old practice that I wish was more common now, inserting an ethical bequest that gives priority not to property, but to transmission of duty. If you were to make an ethical bequest. to Berkshire shareholders, what duties would you impose and why?”

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OtherMeeting2024-05-06

Morning Session - 2024 Meeting

“This is a question from Raphael de Pino from Spain. Berkshire has grown tremendously thanks to, and among other things, it's architect Mr. Munger and you, its general contractor. We're all tremendously thankful to you for taking us along the way. We are aware that both of you and many others have spent an enormous amount of time ensuring Berkshire's culture provides a solid footing on which to grow the building. You also currently have a very talented bench of what we may label as subcontractors in Mr. Abel, Mr. Jane, Mr. Combs, and Mr. Weschler. I. However, for a long time, you've had the advantage that talented subcontractors have wanted to work with a once-in-a-generation architect and general contractor. How do you envision Berkshire will overcome the loss of said advantage when the contractor bench needs to be renewed again, and what are potential renovation works in this great building that may necessitate a new architect?”

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OtherMeeting2024-05-06conf:medium

Morning Session - 2024 Meeting

“Sure. So thank you for, you and your family for being an agent and working for our company, Berkshire Outtheway Home Services. I think there's a few questions in there. There's no question the industry will go through some transitions because of that settlement. Ours and every other major player in the industry settled. The National Association of Realtors settled for more than 400 million. So effectively everybody was swept up in that settlement. And it did set the grounds for the both home services and for the industry to move forward. move forward. There's a lot of changes that happen in or are being proposed associated with that settlement. But the one thing that I think you hopefully would absolutely agree with, the real estate agent is still an important part of these transactions. It's the one time in our lives where we make these massive investments. And having that counseling guidance is critical. And that's really what our business and those other businesses rely on how the commission structures change and how it's negotiated, which is really what the settlement was. It was no longer that a buyer would automatically pay a commission agent to the selling agent that now has to be negotiated.”

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OtherMeeting2024-05-06conf:low

Morning Session - 2024 Meeting

“or six has now come down to under two, and I don't think it would have come down that way without him. There have been some kind of fluke figures of what people did during the pandemic, which are quite interesting because they didn't drive immediately they didn't drive as many miles, but they drove more dangerously didn't they? Is that right, the Jean? Yeah.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“So I think what people don't realize is most things in life function on trust. They don't function based on contracts. They function based on trust. So if you become very trustworthy, it gives you a massive competitive advantage, huge leg up in life. And the thing is that this trustworthiness doesn't come overnight, but it's kind of like on a log scale.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“It's like kind of like truthfulness, right? I mean, you sometimes use those small lies, but if you eliminate all lies, you know, the power versus force we've talked about, what happens is that, you know, those attractive fields come into play and the humans feel they can trust you. And once humans feel they can trust you, the whole universe is at your disposal.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“We see that in spades in Berkshire Hathaway. You know, Berkshire Hathaway does all kinds of things where they just say something to someone and people will accept that. They don't need to have it in writing or anything like that. It just warns, word is enough. And so how do you get there? Well, you get there by having a consistent life where you are, have demonstrated repeatedly that you are playing the game very ethically.”

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OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Right? And I do think that capitalism is a much better system than what it's given credit for. And I think businessmen oftentimes do a horrible job of communicating the positives of a capitalist system. So Adam Smith, who's given credit for being sort of the father and the intellectual creator of the system of Catholicism. I believe his title was Professor of Moral Philosophy. at University of Edinburgh or Glasgow or wherever he was at the time.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“So, if you were to, again, the realm of athletics cause things just popped into my head from athletics stuff. And so if you look at Muhammad Ali and his career as a boxer. And his probably reputation well deserved for being the greatest fighter ever. Well, that's probably true, but if Muhammad Ali needed to be a tennis player or a chess player, he might not have been so successful.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“So if you're going to define success, make sure you define arena you're talking about. So just to say the word success in and of itself. is it's too limited. It's not enough. So I do not know the family structures of Sumner Redstone or Charlie Munger for that matter. I'm guessing that Charlie Munger's success probably has more dimensions to it.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“But that is just a pure guess on my part. And two points about Charlie Munger was the notion of you know, if you want to be success, the best way to do that is to deserve it. So he operated with the idea of trying to be someone who deserved the success that he has earned. And I think that's a fundamentally important way of doing these.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And there's a business practice, there's a life practice that flows from that. So if I just met you. And we were talking about a deal or a project or some commercial transaction. And I said, William, trust me. You can't help it. If again, if we don't know one another, that is going to cause 99 times out of a hundred, just a hint of doubt in you, because if I say, trust me.”

Open transcript →Open original ↗
OtherPodcast2023-12-09

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“I trust you. I trust you and offer the gesture of trust first without demanding reciprocation or equality. I just do that in an unconditional way. What I have observed is that you'll do one of two things. You will either honor. That trust, or you'll violate it. And if you're going to violate the trust, you'll probably do it sooner rather than later.”

Open transcript →Open original ↗
OtherPodcast2023-12-09

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Enduring, consistent, systemic ways. So just to orient yourself to be the initiator of trust, to be the initiator of love, and then don't be stupid, reciprocate and compound and grow the trust relationships and the love word relationships and filter out the ones where you're not getting reciprocity. If you stay at the game long enough, and I've been at it 40 some years.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“As in the public figures that you speak of somebody like Don Graham or somebody like Warren Buffett, I've observed that in them personally for multiple decades and have learned that as an adult, but it doesn't grow stale or it doesn't grow old. And as recently as within the last 30 to 60 days. There was a circumstance and a situation in Richmond, Virginia, where there was a gentleman, and I've known this guy reasonably well, we're not real close, but I've known him reasonably well for probably the better part of 35 or 40 years.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And there was a, and he's reasonably well known around Richmond. He's successful, both in the terms that the world might immediately jump to as successful, but he's also successful in that I know his children and they're good people. They're fun to be around. They have not been warped by affluence in the way that that some are they are successful as well.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And I think when you see that sort of kindness and love based and trust based. That is both financially and in human terms, successful for multiple generations. You're really looking at something special and you want to pay attention and try to learn something from that. And I was in a conversation with him and somehow it came up that he said, well, he gets up every day.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And the first thought he has is how can he do something for somebody? How can he help somebody? Now, if somebody who I did not know for 30 or 40 years and I was meeting on first, first occasion and I didn't know a single thing about him, there's a natural skepticism that one has when you hear somebody say something like that, because you wonder, you know, what's their angle or what's going on here really?”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“There's a period of time it's finite and there's a winner and there's a loser. And that's the definition of a finite game. Infinite games tend to not have so many rules and they don't have a Time horizon potentially. And the only prime directive that exists in the infinite game is that all of the players of the game have to feel that they're winning because if they don't, they're going to stop playing and the game is no longer infinite. So I just want to play an infinite game.”

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OtherPodcast2023-12-09

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Thank you for listening to TIP. Make sure to subscribe to We Study Billionaires by the Investors Podcast Network. Every Wednesday, we teach you about Bitcoin and every Saturday, we study billionaires and the financial markets. To access our show notes, transcripts, or courses, Go to theinvestorspodcast.com. This show is for entertainment purposes only. Before making any decision, consult a professional. This show is copyrighted by The Investor's Podcast Network. Written permission must be granted before syndication or rebroadcasting.Help us reach new listeners by leaving us a rating and review on Apple Podcasts ! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Disclosure: The Investor's Podcast Network is an Amazon Associate. We may earn commission from qualifying purchases made through our affiliate links.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“I would say that when I talk to Charlie about stocks or different subjects, there's a very high degree of rationality. Extremely high degree rationality. I think rationality is an important trait. I don't think you can do these things if you're not going to be objective. I think patience is important in investing. One of the most important skills. Rationality is up there. I think that when we realize, we have to be true to ourselves, when we realize we've made a mistake, you cannot lie to yourself. You have to be candid about the fact that you've made a mistake. And you have to move on and go from there.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Right? And I do think that capitalism is a much better system than what it's given credit for. And I think businessmen oftentimes do a horrible job of communicating the positives of a capitalist system. So Adam Smith, who's given credit for being sort of the father and the intellectual creator of the system of Catholicism. I believe his title was Professor of Moral Philosophy. at University of Edinburgh or Glasgow or wherever he was at the time.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“So, if you were to, again, the realm of athletics cause things just popped into my head from athletics stuff. And so if you look at Muhammad Ali and his career as a boxer. And his probably reputation well deserved for being the greatest fighter ever. Well, that's probably true, but if Muhammad Ali needed to be a tennis player or a chess player, he might not have been so successful.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“So if you're going to define success, make sure you define arena you're talking about. So just to say the word success in and of itself. is it's too limited. It's not enough. So I do not know the family structures of Sumner Redstone or Charlie Munger for that matter. I'm guessing that Charlie Munger's success probably has more dimensions to it.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“But that is just a pure guess on my part. And two points about Charlie Munger was the notion of you know, if you want to be success, the best way to do that is to deserve it. So he operated with the idea of trying to be someone who deserved the success that he has earned. And I think that's a fundamentally important way of doing these.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And there's a business practice, there's a life practice that flows from that. So if I just met you. And we were talking about a deal or a project or some commercial transaction. And I said, William, trust me. You can't help it. If again, if we don't know one another, that is going to cause 99 times out of a hundred, just a hint of doubt in you, because if I say, trust me.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“I trust you. I trust you and offer the gesture of trust first without demanding reciprocation or equality. I just do that in an unconditional way. What I have observed is that you'll do one of two things. You will either honor. That trust, or you'll violate it. And if you're going to violate the trust, you'll probably do it sooner rather than later.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Enduring, consistent, systemic ways. So just to orient yourself to be the initiator of trust, to be the initiator of love, and then don't be stupid, reciprocate and compound and grow the trust relationships and the love word relationships and filter out the ones where you're not getting reciprocity. If you stay at the game long enough, and I've been at it 40 some years.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“As in the public figures that you speak of somebody like Don Graham or somebody like Warren Buffett, I've observed that in them personally for multiple decades and have learned that as an adult, but it doesn't grow stale or it doesn't grow old. And as recently as within the last 30 to 60 days. There was a circumstance and a situation in Richmond, Virginia, where there was a gentleman, and I've known this guy reasonably well, we're not real close, but I've known him reasonably well for probably the better part of 35 or 40 years.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And there was a, and he's reasonably well known around Richmond. He's successful, both in the terms that the world might immediately jump to as successful, but he's also successful in that I know his children and they're good people. They're fun to be around. They have not been warped by affluence in the way that that some are they are successful as well.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And I think when you see that sort of kindness and love based and trust based. That is both financially and in human terms, successful for multiple generations. You're really looking at something special and you want to pay attention and try to learn something from that. And I was in a conversation with him and somehow it came up that he said, well, he gets up every day.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And the first thought he has is how can he do something for somebody? How can he help somebody? Now, if somebody who I did not know for 30 or 40 years and I was meeting on first, first occasion and I didn't know a single thing about him, there's a natural skepticism that one has when you hear somebody say something like that, because you wonder, you know, what's their angle or what's going on here really?”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And there's an illustration of that, of how this can be so successful from a business point of view. I can remember a couple years ago at the Berkshire annual meeting, and Charlie Munger, who oftentimes just puts his finger right on it in terms of behavior and just trying to be stand up people and do the right thing and think longer term.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And he was just trying to illustrate the point that that General Electric was a company that in many ways lost its way. It had huge, epic advantages. You go back 50 years ago and you look at whatever collection of businesses at whatever place in society General Electric occupied versus whatever position Berkshire Hathaway occupied 50 years ago.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And he would say Buffett and he do their best to make rational decisions day after day after day. I would extend that and say, rationality looks different. When you're playing a finite win lose game than what it looks like when you're playing in infinite. Win game. And I think it was James Kors, if I'm remembering the name correctly, who wrote about the infinite game and he talked about, you know, in a finite game, there are rules.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“There's a period of time it's finite and there's a winner and there's a loser. And that's the definition of a finite game. Infinite games tend to not have so many rules and they don't have a Time horizon potentially. And the only prime directive that exists in the infinite game is that all of the players of the game have to feel that they're winning because if they don't, they're going to stop playing and the game is no longer infinite. So I just want to play an infinite game.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And as you said, you changed your wiring and of course, our wiring is got this plastic nature and is capable of us. It is not at the extremes. I mean, right. We all know. I mean, what clinical depression is something very serious but this idea of, you know, the connection of our physical environment, our physical bodies to our mental state.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Of course, those things are related. C. S. Lewis wrote an interesting essay I read a long time ago about praying. And he said, you know, people have this view. I can pray anytime. I don't need to be on my knees. And he made a very strong case that you should be on your knees because the connection between our brains and our bodies is strong enough that position, which is of course a position of incredible submissiveness, affects our wiring.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“In a much more modern interpretation, there was a in the early days of the idea of internet video, it was streaming. There was, at that time, laptops wasn't really the thing. It was just desks and this skeptic said to me, well, nobody's ever going to watch a movie on their computer screen because when you're on your computer, you're leaning forward three degrees.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“I think it was, it is a way, you know, as John Wooden famously said you haven't taught unless they've learned. You know, I think it is a way to, to do your best to make sure that somehow you aren't communicating something you don't wish to communicate or don't intend to communicate. And so I think Warren was an incredible student of that mindset.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And so you're absolutely right. And by the way, Ben Franklin was too. I have written down, I should have brought it in. I book of things that I've jotted down, mostly quotes from books or poems, you know, since I was in college. And one of them is about Ben Franklin talking about how he knew people that were very effective at winning arguments, but they never win one.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“So, and Charlie would hold up Ben Franklin as his Dale Carnegie. So, I mean, both of them have enormous, you know, have learned ways Charlie once told me he, he wears suits in part because he said I'm so unconventional in other ways that if I at least wear a suit, People immediately assume I'm conventional in some ways and that, that's probably helpful. But he, you know, that it was purely a practical matter.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Thank you for listening to TIP. Make sure to subscribe to We Study Billionaires by the Investors Podcast Network. Every Wednesday, we teach you about Bitcoin and every Saturday, we study billionaires and the financial markets. To access our show notes, transcripts, or courses, Go to theinvestorspodcast.com. This show is for entertainment purposes only. Before making any decision, consult a professional. This show is copyrighted by The Investor's Podcast Network. Written permission must be granted before syndication or rebroadcasting.Help us reach new listeners by leaving us a rating and review on Apple Podcasts ! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Disclosure: The Investor's Podcast Network is an Amazon Associate. We may earn commission from qualifying purchases made through our affiliate links.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Yeah, well, I mean, I have to pinch myself at all of this because, I think on many fronts… I think we, all of us are very privileged to be living in the time of Warren and Charlie. I mean it'd be kind of like living in the time of Newton, Einstein or any of those luminaries we look up to. So, that's wonderful. And I think in my case, I would've never expected to have any kind of a interaction directly with Warren or Charlie. I think that was just not part of the equation. And then of course Warren takes bribes and if you bribe him enough, then he'll sit down and have a meal with you. And this year, actually I think was the last year that he auctioned off the charity lunch. I'm not sure what it went for, but that's the last one. And so since he was willing to take the bribe and I had bid for a few years. But in 2007, Guy Spier and I prevailed and we won the lunch, and we met Warren in 2008 and I pretty much just expected that to be it.”

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OtherPodcast2023-12-09conf:low

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Right? And I do think that capitalism is a much better system than what it's given credit for. And I think businessmen oftentimes do a horrible job of communicating the positives of a capitalist system. So Adam Smith, who's given credit for being sort of the father and the intellectual creator of the system of Catholicism. I believe his title was Professor of Moral Philosophy. at University of Edinburgh or Glasgow or wherever he was at the time.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“So, if you were to, again, the realm of athletics cause things just popped into my head from athletics stuff. And so if you look at Muhammad Ali and his career as a boxer. And his probably reputation well deserved for being the greatest fighter ever. Well, that's probably true, but if Muhammad Ali needed to be a tennis player or a chess player, he might not have been so successful.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“So if you're going to define success, make sure you define arena you're talking about. So just to say the word success in and of itself. is it's too limited. It's not enough. So I do not know the family structures of Sumner Redstone or Charlie Munger for that matter. I'm guessing that Charlie Munger's success probably has more dimensions to it.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“But that is just a pure guess on my part. And two points about Charlie Munger was the notion of you know, if you want to be success, the best way to do that is to deserve it. So he operated with the idea of trying to be someone who deserved the success that he has earned. And I think that's a fundamentally important way of doing these.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And there's a business practice, there's a life practice that flows from that. So if I just met you. And we were talking about a deal or a project or some commercial transaction. And I said, William, trust me. You can't help it. If again, if we don't know one another, that is going to cause 99 times out of a hundred, just a hint of doubt in you, because if I say, trust me.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“I trust you. I trust you and offer the gesture of trust first without demanding reciprocation or equality. I just do that in an unconditional way. What I have observed is that you'll do one of two things. You will either honor. That trust, or you'll violate it. And if you're going to violate the trust, you'll probably do it sooner rather than later.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Enduring, consistent, systemic ways. So just to orient yourself to be the initiator of trust, to be the initiator of love, and then don't be stupid, reciprocate and compound and grow the trust relationships and the love word relationships and filter out the ones where you're not getting reciprocity. If you stay at the game long enough, and I've been at it 40 some years.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“As in the public figures that you speak of somebody like Don Graham or somebody like Warren Buffett, I've observed that in them personally for multiple decades and have learned that as an adult, but it doesn't grow stale or it doesn't grow old. And as recently as within the last 30 to 60 days. There was a circumstance and a situation in Richmond, Virginia, where there was a gentleman, and I've known this guy reasonably well, we're not real close, but I've known him reasonably well for probably the better part of 35 or 40 years.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And there was a, and he's reasonably well known around Richmond. He's successful, both in the terms that the world might immediately jump to as successful, but he's also successful in that I know his children and they're good people. They're fun to be around. They have not been warped by affluence in the way that that some are they are successful as well.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And I think when you see that sort of kindness and love based and trust based. That is both financially and in human terms, successful for multiple generations. You're really looking at something special and you want to pay attention and try to learn something from that. And I was in a conversation with him and somehow it came up that he said, well, he gets up every day.”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And the first thought he has is how can he do something for somebody? How can he help somebody? Now, if somebody who I did not know for 30 or 40 years and I was meeting on first, first occasion and I didn't know a single thing about him, there's a natural skepticism that one has when you hear somebody say something like that, because you wonder, you know, what's their angle or what's going on here really?”

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OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And as you said, you changed your wiring and of course, our wiring is got this plastic nature and is capable of us. It is not at the extremes. I mean, right. We all know. I mean, what clinical depression is something very serious but this idea of, you know, the connection of our physical environment, our physical bodies to our mental state.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Of course, those things are related. C. S. Lewis wrote an interesting essay I read a long time ago about praying. And he said, you know, people have this view. I can pray anytime. I don't need to be on my knees. And he made a very strong case that you should be on your knees because the connection between our brains and our bodies is strong enough that position, which is of course a position of incredible submissiveness, affects our wiring.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“In a much more modern interpretation, there was a in the early days of the idea of internet video, it was streaming. There was, at that time, laptops wasn't really the thing. It was just desks and this skeptic said to me, well, nobody's ever going to watch a movie on their computer screen because when you're on your computer, you're leaning forward three degrees.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“I think it was, it is a way, you know, as John Wooden famously said you haven't taught unless they've learned. You know, I think it is a way to, to do your best to make sure that somehow you aren't communicating something you don't wish to communicate or don't intend to communicate. And so I think Warren was an incredible student of that mindset.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“And so you're absolutely right. And by the way, Ben Franklin was too. I have written down, I should have brought it in. I book of things that I've jotted down, mostly quotes from books or poems, you know, since I was in college. And one of them is about Ben Franklin talking about how he knew people that were very effective at winning arguments, but they never win one.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“So, and Charlie would hold up Ben Franklin as his Dale Carnegie. So, I mean, both of them have enormous, you know, have learned ways Charlie once told me he, he wears suits in part because he said I'm so unconventional in other ways that if I at least wear a suit, People immediately assume I'm conventional in some ways and that, that's probably helpful. But he, you know, that it was purely a practical matter.”

Open transcript →Open original ↗
OtherPodcast2023-12-09conf:medium

RWH037: Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis

“Thank you for listening to TIP. Make sure to subscribe to We Study Billionaires by the Investors Podcast Network. Every Wednesday, we teach you about Bitcoin and every Saturday, we study billionaires and the financial markets. To access our show notes, transcripts, or courses, Go to theinvestorspodcast.com. This show is for entertainment purposes only. Before making any decision, consult a professional. This show is copyrighted by The Investor's Podcast Network. Written permission must be granted before syndication or rebroadcasting.Help us reach new listeners by leaving us a rating and review on Apple Podcasts ! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Disclosure: The Investor's Podcast Network is an Amazon Associate. We may earn commission from qualifying purchases made through your affiliate links.”

Open transcript →Open original ↗
OtherInterview2023-12-05

Charlie Munger's final CNBC interview | November 14, 2023

“Charlie Munger may be best known as Berkshire Hathaway's vice chairman. Warren Buffett's best friend, confidant, and business partner for six and a half decades. But Munger was also a giant in his own right, a scold of corporate excess and greed, who preached to a large flock of devout followers about how to get along in investing and in life. A Renaissance man, Munger modeled himself after none other than Benjamin Franklin. He studied mathematics, physics, meteorology, and engineering, all before. before attending Harvard Law School. He trained himself in subjects as diverse as psychology and architecture. Munger passed away at the age of 99, just one month shy of his 100th birthday, and two weeks after our last interview with him. Tonight, we bring you a look back at the wit and wisdom of Charlie Munger.”

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OtherInterview2023-12-05conf:low

Charlie Munger's final CNBC interview | November 14, 2023

“agots. Marbles? I made sure. You marbles. But agots were the most valuable marble. And I never wanted to do that. I never wanted to lose my good, valuable collection. You know, some guy was more coordinated than I was shooting marbles. So I would never play for stakes, and it's like I could play better than the other boy. That's kind of been a habit you've made throughout life. You don't play poker with someone you're going to lose with. Exactly. Right. I didn't always arrange the circumstances. I just fell under them frequently. But I got to play with competitors who were dumb calls. People who weren't assessing the odds. weren't assessing the odds quite the same way? No, no. They weren't assessing the odds the way it was easy to assess the odds. And you'd learn, you just paid attention when the teacher was teaching, you know, fair interpretations and combinations. You're saying you're in high school. The minutes they taught me those things on, I looked at them. And the math teacher who was teaching me was a dumb cough. And of course, he didn't have any idea how they were important and why. He just taught them. was one more thing he had to teach to get through the textbook. And I immediately realized that these things were terribly important. It would do wonders for me if I mastered them. But my math teacher didn't know that. I mean, that's where you get to, I think what you call... Lone Fuller. Yes. He knew that if you really knew economics, you'd be a better decision-maker. And that gets you... Quite a bit. Yeah. Yeah, that opens a big gate to a lot of interesting territory. The trouble of that territory is that territory is hard. Most of the leading economists are very talented people. It's hard to just get coherent in the subject, much less persuasive. And so it's a very difficult subject. And on the other hand, there are little sub-markets where it's easy to figure out how to do well. And a lot of people figure out how to work their way in. worm their way into those and stay there. A lot of what you do, though, also is picking your shots. I mean, I think you call it sit on your ass investing. Yeah, sure. Where you wait for the big fat pitches to come in. You don't do a lot over time. That's correct. You don't want taxes to whittle down or anything else along the way. No. And it's very obvious that every intelligent person ought to do that. And a lot of the intelligent people have figured it out.”

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OtherInterview2023-12-05conf:low

Charlie Munger's final CNBC interview | November 14, 2023

“And naturally, I hate getting anywhere near. Imagine coming at life with a basic attitude of Grandfather Munger and Grandfather Ingham. how little I want to see growing up when it's been so hard to get it where it is from where it was. Of course, I don't want to blow enough. You worry about that right now? Yeah, of course I worry about it. I don't spend too much time worry about it because there's something I can't fix myself. I frequently put it on something I call my too hard file. And then I just don't think about it. So I would say atomic war is in my too hard file. I think we're near. I know we're narrower than I like being right now.”

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OtherInterview2023-12-05conf:low

Charlie Munger's final CNBC interview | November 14, 2023

“There's an article that just came out about Oregon, which decriminalized all of illegal drugs and is now rethinking that decriminalization because of what it has led to. They thought by offering people help to get to cure their addictions that that would be enough to offset it. What they've found instead is that they have places that are overrun with drug users on the streets, making it very difficult to live.”

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OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“Well, she was magnificent in every way but this is going to be a tie into Warren to Charlie to all of the people that I would put on that list is one was this idea of they kept interested, they kept so engaged with life. My mother has a very close friend who we always admired as kids because she was, that, that powerful sort of irreverent woman. But one of the things I've watched as she's gotten older is she resents the impact of technology.”

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OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“Right? In fact, I would argue that there's an enormous subset of people that have built very substantial fortunes in one way or another, investing or speculating or trading. To quote Charlie Munger once said to me, who don't have one true friend in the world and rightly so and so I actually think it is a relatively narrow subset of investors that end up at some point in their life, highly recognizing and acknowledging the profound value of relationships.”

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OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“They're playing a different game my, my brother, when we were in our teens, had a t shirt that said, whoever dies with the most wins, and there are people that live that way and I think they would pass a lie detector test saying that they're happy, I don't think it's much of a life, but it's the way that, it's the goals that they set out, and it's, What their sense of validation, that's what it comes from.”

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OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“In other words, why, you mentioned Munger Tolls and Ron Olson, how does Munger Tolls rank literally as, I believe in one ranking I just read recently, the best law firm in the country? Right. It's like, what is it? And by the way, you could say the same about Wachtell Lipton. And what's interesting is they have totally different compensation practices, totally different.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“So it's not just compensation but certainly in both cases, it is about culture. And so I'll use that and in the Cavendish lab to sort of draw them all together, which is that my experience is if that, of course, you have to pay people fairly, right? People, it's, it would be a crazy thing to tell people that, over the arc of your lifetime, I'm asking you to earn well below what you could earn elsewhere.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:low

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“He said, yeah, you usually don't get that from listening too much. So I would not have been accused of listening too much in those tutorials and in the seminars at university. So he hand wrote out Cardinal Newman's talk because, there, I don't think he had a computer printer and so he hand wrote it out and he, he gave it to me the beginning of my last semester with him and he said he thought it would serve me and so the not inflicting pain as a, as an important part of it.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:low

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“Chris Davis is just required reading. Everybody should read it. Because he had never led anything, so we had no idea. Would he be a good CEO? Would he be too abrasive? Would he be… And he wrote a shareholder letter of accountability, of how to be measured, of fairness, of aspirate. And, J. P. Morgan had certainly, and Bank One, both, had become very mediocre institutions and the drive and the commitment and the value system and the legacy is an incredible transformation. So that, that constant changing that can come I love that in all aspects of life.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“Well, I think, yeah, I think the sort of the litmus test of what allows you to dismiss somebody completely from your regard has become so, so narrow and so tightly defined, and it's You know, there's so much of the internet that is a gift to the world and I think people that rail against it are making a mistake, but, I actually spent the weekend Saturday in the small town that I'm in, there was a big public hearing where there was a controversial issue in the town, and people, if you were to read what had been written on the internet, the vitriol was despicable.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“To access our show notes, transcripts, or courses, go to theinvestorspodcast.com. This show is for entertainment purposes only. Before making any decision consult a professional. This show is copyrighted by The Investor's Podcast Network. Written permission must be granted before syndication or rebroadcasting.Help us reach new listeners by leaving us a rating and review on Apple Podcasts ! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Disclosure: The Investor's Podcast Network is an Amazon Associate. We may earn commission from qualifying purchases made through our affiliate links.In this episode, William Green talks with Chris Davis, a renowned investor at Davis Advisors who also serves on Berkshire Hathaway's board of directors. Here, Chris shares powerful lessons he's learned from his mentors—Warren Buffett & Charlie Munger—about building financial resilience, learning from our mistakes, avoiding our weaknesses, harnessing trust, & flourishing as we age.Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“We'd have to review that and figure out that but yeah, I believe Berkshire is incredibly important as, well, as an exemplar, but as an icon of how capitalism should work. Right? In other words, a company that hasn't taken shortcuts that in almost every dimension tries in every industry and every subsidiary has this goal of, as Charlie would say, getting what you deserve, trying to earn success, no shortcuts, they want to have the reputation with the regulators, with customers for their dealing and, you mentioned Tom Gayner. Of course, Markel aspires and has delivered in the same way. And by the way, there are other companies that do, but Berkshire is absolutely in a sense, the LeBron James of that, right? They, there is the sheer scale of the success the time horizon over which it's been done in every manner.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:low

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“Chris Davis is just required reading. Everybody should read it. Because he had never led anything, so we had no idea. Would he be a good CEO? Would he be too abrasive? Would he be… And he wrote a shareholder letter of accountability, of how to be measured, of fairness, of aspirate. And, J. P. Morgan had certainly, and Bank One, both, had become very mediocre institutions and the drive and the commitment and the value system and the legacy is an incredible transformation. So that, that constant changing that can come I love that in all aspects of life.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“Well, I think, yeah, I think the sort of the litmus test of what allows you to dismiss somebody completely from your regard has become so, so narrow and so tightly defined, and it's You know, there's so much of the internet that is a gift to the world and I think people that rail against it are making a mistake, but, I actually spent the weekend Saturday in the small town that I'm in, there was a big public hearing where there was a controversial issue in the town, and people, if you were to read what had been written on the internet, the vitriol was despicable.”

Open transcript →Open original ↗
OtherPodcast2023-10-28

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“To access our show notes, transcripts, or courses, go to theinvestorspodcast.com. This show is for entertainment purposes only. Before making any decision consult a professional. This show is copyrighted by The Investor's Podcast Network. Written permission must be granted before syndication or rebroadcasting.Help us reach new listeners by leaving us a rating and review on Apple Podcasts ! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Disclosure: The Investor's Podcast Network is an Amazon Associate. We may earn commission from qualifying purchases made through our affiliate links.In this episode, William Green talks with Chris Davis, a renowned investor at Davis Advisors who also serves on Berkshire Hathaway's board of directors. Here, Chris shares powerful lessons he's learned from his mentors—Warren Buffett & Charlie Munger—about building financial resilience, learning from our mistakes, avoiding our weaknesses, harnessing trust, & flourishing as we age.Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“We'd have to review that and figure out that but yeah, I believe Berkshire is incredibly important as, well, as an exemplar, but as an icon of how capitalism should work. Right? In other words, a company that hasn't taken shortcuts that in almost every dimension tries in every industry and every subsidiary has this goal of, as Charlie would say, getting what you deserve, trying to earn success, no shortcuts, they want to have the reputation with the regulators, with customers for their dealing and, you mentioned Tom Gayner. Of course, Markel aspires and has delivered in the same way. And by the way, there are other companies that do, but Berkshire is absolutely in a sense, the LeBron James of that, right? They, there is the sheer scale of the success the time horizon over which it's been done in every manner.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:low

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“In other words, why, you mentioned Munger Tolls and Ron Olson, how does Munger Tolls rank literally as, I believe in one ranking I just read recently, the best law firm in the country? Right. It's like, what is it? And by the way, you could say the same about Wachtell Lipton. And what's interesting is they have totally different compensation practices, totally different.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:low

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“So it's not just compensation but certainly in both cases, it is about culture. And so I'll use that and in the Cavendish lab to sort of draw them all together, which is that my experience is if that, of course, you have to pay people fairly, right? People, it's, it would be a crazy thing to tell people that, over the arc of your lifetime, I'm asking you to earn well below what you could earn elsewhere.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:low

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“He said, yeah, you usually don't get that from listening too much. So I would not have been accused of listening too much in those tutorials and in the seminars at university. So he hand wrote out Cardinal Newman's talk because, there, I don't think he had a computer printer and so he hand wrote it out and he, he gave it to me the beginning of my last semester with him and he said he thought it would serve me and so the not inflicting pain as a, as an important part of it.”

Open transcript →Open original ↗
OtherPodcast2023-10-28conf:low

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“Chris Davis is just required reading. Everybody should read it. Because he had never led anything, so we had no idea. Would he be a good CEO? Would he be too abrasive? Would he be… And he wrote a shareholder letter of accountability, of how to be measured, of fairness, of aspirate. And, J. P. Morgan had certainly, and Bank One, both, had become very mediocre institutions and the drive and the commitment and the value system and the legacy is an incredible transformation. So that, that constant changing that can come I love that in all aspects of life.”

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OtherPodcast2023-10-28conf:medium

Learning from Warren Buffett & Charlie Munger w/ Chris Davis

“Well, I think, yeah, I think the sort of the litmus test of what allows you to dismiss somebody completely from your regard has become so, so narrow and so tightly defined, and it's You know, there's so much of the internet that is a gift to the world and I think people that rail against it are making a mistake, but, I actually spent the weekend Saturday in the small town that I'm in, there was a big public hearing where there was a controversial issue in the town, and people, if you were to read what had been written on the internet, the vitriol was despicable.”

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