RWH044: How To Beat The Market w/ Bryan Lawrence
We Study Billionaires - The Investor’s Podcast Network
Investment Strategies and Understanding Portfolio Performance
This chapter explores the complexities of making investment decisions and the critical role of learning from past mistakes to enhance future performance. The discussion highlights the importance of setting realistic client expectations and the ongoing commitment to researching and understanding investment opportunities.
In this episode, William Green chats with Bryan Lawrence, a highly successful hedge fund manager who runs an investment firm called Oakcliff Capital. Bryan almost never gives interviews, so this is a rare opportunity to hear him speak in depth about the advantages of a concentrated value strategy, how he finds new investments, what 6 questions he asks when analyzing any stock, what he’s learned from Buffett & Munger, & how to build a happy life.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
05:42 - What Bryan Lawrence learned from his hugely successful father.
16:30 - What Charlie Munger taught Bryan.
33:07 - How Shelby Cullom Davis turned $200,000 into $800 million.
39:14 - How Bryan has consciously built an investing edge.
43:25 - What he learned from meeting Warren Buffett.
47:15 - Why Bryan looks for three specific characteristics in any business.
59:18 - How to beat the market by making infrequent bets.
1:08:19 - Why he’s obsessed with identifying where he’s wrong.
1:10:17 - How he searches for new investment ideas.
1:14:32 - How he structures his day.
1:44:20 - How to think rationally about fossil fuels & climate change.
1:49:1 - How to build a happy life & great relationships.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Bryan Lawrence’s investment firm, Oakcliff Capital.
- Check out Poor Charlie’s Almanack.
- Dean Ornish & Anne Ornish's book Undo It.
- Robert Cialdini's book Influence.
- Alain de Boton's book The Consolations of Philosophy.
- Douglas Stone, Bruce Patton, & Sheila Heen's book Difficult Conversations.
- John Rothchild's book The Davis Dynasty.
- Vaclav Smil's book How the World Really Works.
- David Mackay's book Sustainable Energy Without the Hot Air.
- Gillian Zoe Segal's book Getting There.
- William Green’s podcast interview with Chris Davis | 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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