The Legacy of Andrew Carnegie: Mastery and Philanthropy

This chapter examines Andrew Carnegie's philosophy of success rooted in mastery and the importance of giving back to society. It reflects on his journey from a skilled telegrapher to a titan of the steel industry, while also highlighting his philanthropic efforts in establishing libraries. The speakers engage in a thoughtful conversation about the implications of technological advancements and the philosophical underpinnings of a fulfilling life, emphasizing values like love, integrity, and the influence of positive literature.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

In this episode, William Green chats with hedge fund manager Christopher Begg, who is the CEO, Chief Investment Officer, & co-founder of East Coast Asset Management. Chris is also a revered professor at Columbia Business School, where he teaches the Security Analysis class that was originally taught by Warren Buffett’s mentor, Ben Graham. Here, Chris shares powerful lessons on how to identify high-quality businesses & build a life that’s defined by a commitment to quality.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:54- How Chris Begg came to teach an investing class originally taught by Ben Graham.

10:29 - What Chris learned from his ten fireside chats with Berkshire Hathaway’s Todd Combs.

13:17 - What Buffett & Munger taught Chris about focusing on a few great businesses.

17:58 - How he finds undervalued stocks by asking, “Where are the clouds today?”

26:55 - Why he’s bullish on Meta & Google, despite an array of perceived threats.

36:09 - How he identifies great businesses by seeking 8 layers of competitive advantage.

47:13 - How to succeed through “persistent incremental progress eternally repeated.”

1:00:01 - Why investors can’t afford to ignore a company’s impact on the environment.

1:06:40 - Why consistent kindness is a potent ingredient of success, helping to build trust.

1:15:22 - How Chris gains an edge by continuously compounding his interdisciplinary knowledge.

1:32:17 - What he’s learned about the pursuit of excellence from surfing with Josh Waitzkin.

1:40:48 - Why Chris structures his workday to include meditation & contemplation.

1:50:46 - What studying Andrew Carnegie—once the world’s richest person—has taught him.

1:53:40 - Why Chris believes that the world is headed in a better direction.

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.
Chris Begg’s investment firm, East Coast Asset Management.
One from Many by Dee Hock.
Nick Sleep’s list of long-term vs short-term characteristics.
Robert Pirsig’s Zen & the Art of Motorcyle Maintenance, Lila, & On Quality.
Finite & Infinite Games by James Carse.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
William Green’s Twitter.

SPONSORS

Support our free podcast by supporting our sponsors:

River
Toyota
Sun Life
The Bitcoin Way
Range Rover
Sound Advisory
BAM Capital
Fidelity
SimpleMining
Briggs & Riley
Public
Shopify

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Learn more about your ad choices. Visit megaphone.fm/adchoices

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!

Get the app

Home Top podcasts Popular guests