Cycles of Business and Investment Strategies

This chapter delves into insights from a prominent business figure about the cyclical nature of corporate success and failure, emphasizing the inevitable extinction of once-dominant companies. The discussion also contrasts active and passive investing strategies, highlighting the emotional challenges faced by investors and the necessity of self-awareness in one's investment approach. Personal anecdotes illustrate the importance of simplicity and diversification in maintaining a successful investment portfolio.

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On today’s show, Stig Brodersen talks with co-host William Green, the author of “Richer, Wiser, Happier.” They discuss what has made them Richer, Wiser, or Happier in the past quarter.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:31 - How to think about investing with an asset manager that yields a lower return and has good values, or an asset manager with a higher return and bad values.

27:35 - The role of money vs. happiness for billionaires.

48:55 - What Stig and William learned from Ray Dalio.

54:51 - Why pain + reflection = progress.

1:25:16 - What Stig and William learned from Charlie Munger.

1:44:22 - Why William bought Alibaba and Seritage Growth Properties.

1:53:09 - Which investing books made it to the top 5 for Stig and William for Q1 2023, and why.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Listen to Stig Brodersen and William Green’s episode on Money and Happiness or watch the video.
Listen to William Green’s interview with Ray Dalio or watch the video.
Tune in to William Green’s interview with Fred Martin about being a disciplined growth investor or watch the video.
William Green’s book Richer, Wiser, Happier – read reviews of this book.
Fred Martin’s book, Benjamin Graham and the Power of Growth Stocks – read reviews of this book.
Bruce Greenwald’s book, Competition Demystified – read reviews of this book.
Joel Tillinghast’s book, Big Money Thinks Small – read reviews of this book.
Ray Dalio’s book, Your Guided Journal – read reviews of this book.
Aswath Damodaran’s book, The Little Book of Valuation – read reviews of this book.
Gautam Baid’s book, The Joys of Compounding – read reviews of this book.
Q&A with Charlie Munger from the DIJO meeting.
Watch the trailer for Free Solo.

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