Defining Investment Boundaries and Risk Assessment

This chapter explores the concept of a 'circle of competence' in investment strategies, focusing on risk assessment in cryptocurrencies and biotech. It emphasizes the significance of respecting diverse investment approaches while remaining committed to personal investment philosophies that prioritize cash-generating assets.

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Episode notes

Stig Brodersen chats with Guy Spier. Guy Spier has had a profound impact on the value investing community. As with Warren Buffett, many investors first find Guy Spier to learn how to invest. But while you might come for the investing lessons, you stay for the life lessons.

IN THIS EPISODE, YOU'LL LEARN:

02:13 - How to use envy as a positive force in your life.
09:43 - Which idea that Guy Spier had to let go of in his evolution as a value investor.
15:03 - Why Guy Spier thinks that Charlie Munger is right and wrong about bitcoin being rat poison.
15:49 - How to know which habits to clone and which not from heroes like Charlie Munger.
25:29 - Why you can be a value investor and invest in bitcoin.
40:05 - How to struggle well in life and investing?
54:29 - How does the shorter tenure in the S&P500 change how Guy Spier thinks about compounders.
01:00:09 - Which investing knowledge Guy Spier would like to acquire if it didn’t require any time.
01:07:19 - Why the best way to achieve success is to deserve it.
01:15:03 - How and why you should be authentic and vulnerable.

*Disclaimer: Slight timestamp discrepancies 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.
Stig and Preston’s interview with Guy Spier on his book, The Education of a Value Investor.
Stig and Preston’s interview with Guy Spier about his lunch with Warren Buffett.
Guy Spier’s book, The Education of a Value Investor – Read reviews of the book.
Subscribe to Guy Spier’s Free Newsletter.
Guy Spier’s podcast and website.

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