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Living Life According to an Inner Scorecard
The hedonic treadmill, otherwise known as lifestyle creep, is pretty much a double edged sword. Morgan Hausle writes that the solution particularly after basic knees are met is actively seeking contentment with what you have. Buffett popularized the idea of living life by an inner scorecard. Charlie Munger has always been a big proponent of delayed gratification.
On today’s episode, Clay Finck continues his review of Gautam Baid’s book, The Joys of Compounding.
Gautam Baid is the Managing Partner and Fund Manager of Stellar Wealth Partners India Fund, a Delaware-based investment partnership which is available to accredited investors in the US. The fund is modeled after the Buffett Partnership fee structure and invests in listed Indian equities with a long-term, fundamental, and value-oriented approach.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:11 - The virtues of philanthropy and good karma.
06:24 - How we can simplify both our investments and our life.
14:45 - The importance of achieving financial independence.
21:42 - How Charlie Munger achieved financial independence.
26:28 - Why the key to success is delayed gratification.
29:20 - How we can properly assess a management team.
56:03 - The importance of using an investment checklist to avoid common mistakes.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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