RWH045: Real Success w/ Christopher Tsai
We Study Billionaires - The Investor’s Podcast Network
The Rise and Fall of a Pioneering Investor
This chapter explores the groundbreaking investment career of the first Chinese American CEO of a Dow Jones company, focusing on his innovative strategies and the establishment of the Manhattan Fund. It also examines the challenges he faced during his rise in the 1960s, shifting public perception, and the impact of market dynamics on his legacy.
In this episode, William Green chats with Christopher Tsai, President & Chief Investment Officer of Tsai Capital. Christopher, who’s beaten the S&P 500 over the last 24 years, explains why Tesla is his biggest position; why investors routinely underestimate the impact of disruptive technologies; why it was so challenging to be the son of America’s first celebrity fund manager; what 3 habits help him most; & what he learned from his famed mentors, Peter Kaufman & Charlie Munger.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
04:15 - How Christopher Tsai’s family survived war & oppression in China.
18:02 - How his father became America’s first celebrity fund manager.
21:38 - What lessons Christopher drew from his father’s successes & failures.
39:51 - Why Tesla is Christopher’s biggest investment.
46:32 - Why we tend to underestimate the impact of disruptive technologies.
57:31 - Why the costliest mistake is to sell great compounders too early.
1:07:08 - What tailwinds he’s riding with Microsoft, Visa, & Mastercard.
1:14:21 - How his views on diversification have changed.
1:16:36 - What 3 habits help him to be focused, peaceful, & productive.
1:43:01 - How he became a money manager at 16.
1:57:07 - What Peter Kaufman taught him about the 7 steps to success.
2:06:48 - Why Christopher won’t invest in China.
2:10:41 - What Charlie Munger taught him.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Christopher Tsai’s investment firm, Tsai Capital.
- Christopher Tsai’s white paper on Investing in an Age of Disruption.
- Christopher Tsai’s white paper on The Power & Challenges of Compounding.
- Marcel Proust’s In Search of Lost Time.
- Adam Seesel’s Where the Money Is.
- Maxwell King’s The Good Neighbor.
- William Green’s podcast episode with Peter Keefe | YouTube Video.
- William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
- Follow William Green on X.
- Check out all the books mentioned and discussed in our podcast episodes here.
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