The Power of Vulnerability and Connections

This chapter explores the transformative effects of vulnerability within the Young Presidents Organization, where sharing personal challenges leads to meaningful insights and support from peers. It emphasizes the significance of emotional intelligence in both personal and professional relationships, showcasing how trust and ethical behavior can strengthen connections and promote long-term success. Additionally, it reflects on the importance of nurturing friendships and adapting one's demeanor through personal growth, underscoring the value of kindness and authenticity in interactions.

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IN THIS EPISODE, YOU’LL LEARN

00:02:41 - How an introduction from Warren Buffett led to Mohnish’s friendship with Charlie Munger.
00:04:46 - What it’s been like to hang out with Charlie over the last 14 years.
00:15:45 - How Warren and Charlie have succeeded by being voracious “learning machines.”
00:18:59 - How Warren and Charlie differ from each other as investors.
00:22:12 - How Charlie figured out that Li Lu would be one of the greatest investors of our time.
00:42:34 - Why it’s helpful to know that even the best investors are wrong a third or half of the time.
00:43:18 - How a checklist and other “circuit breakers” can help you to reduce your error rate.
01:00:53 - Why Mohnish and Charlie believe it’s a huge competitive advantage to be ethical.
01:03:56 - How Mohnish decides whether or not to build a relationship with someone.
01:12:55 - How he’s changed, becoming more committed to serving others as selflessly as possible.
01:15:19 - What Mohnish figured out about how to parent his daughters.
01:24:01 - How the power principles he learned from David Hawkins have changed his life.
01:25:16 - Why it’s so valuable to be candid and to “bare your soul.”
01:39:52 - Where Mohnish wants his ashes to be scattered after he dies.

*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.
Mohnish Pabrai’s website, Chai with Pabrai.
Mohnish’s book, The Dhando Investor.
Learn more about Mohnish’s Dakshana Foundation.
Stig Brodersen’s latest interview with Mohnish about stock investing.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
Mohnish explains how “Richer, Wiser, Happier” transformed his investing approach.
David Hawkins’ books “Power vs Force,” “Letting Go,” and “The Eye of the I.”
William Green’s Twitter.
Our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Check out our favorite Apps and Services.
New to the show? Check out our We Study Billionaires Starter Packs.

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