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The Power of Trust
Berkshire Hathaway CEO Charlie Munger talks about how being ethical can give you a competitive advantage. He says people like Monish and me don't deserve nearly as much credit for our morality as we deserve if we were doing it against our own interests. "If you become very trustworthy, it gives you a massive competitive advantage," he says.
In this special episode, William Green shares several fundamental, life-changing lessons that he’s learned from his conversations with Charlie Munger, Mohnish Pabrai, Tom Gayner, & John Spears. The focus here is on powerful insights that can guide & enrich you both in business & life.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:37 - Why Charlie Munger thinks being ethical is a huge competitive advantage
17:16 - Why Munger urges you to get “toxic people” out of your life, & do it fast.
24:52 - How Mohnish Pabrai forges strong relationships based on trust & fairness and how Mohnish’s success is built on David Hawkins’ insights in “Power vs Force.”
36:09 - What William Green learned from Hawkins’ books that changed his life.
46:36 - Why Munger won’t indulge in destructive emotions like anger & envy.
57:32 - How Markel CEO Tom Gayner infuses his business dealings with timeless values.
1:06:33 - How Tom operates by initiating trust & then assessing whether it’s deserved.
1:16:23 - What Tom looks for when appraising a person’s integrity.
1:25:18 - What John Spears learned from Quakerism that guided him in business & life.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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