From Disillusionment to Value Investing

This chapter follows the journey of an Oxford and Harvard grad as he navigates the challenges of Wall Street, grappling with unethical practices before discovering the principles of value investing. Through personal adversity and pivotal lessons, he emphasizes the importance of integrity, reputation, and a long-term investment strategy.

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Clay reviews Guy Spier’s book, The Education of a Value Investor. Guy Spier is a renowned hedge fund manager who has beaten the S&P 500 by almost 250 percentage points since launching the Aquamarine Fund in 1997. He has also been a guest on We Study Billionaires several times, including episode #14 released all the way back in 2014.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

02:27 - Guy’s story and background, and the critical mistakes he learned from the journey.

06:39 - How studying Tony Robbins and Warren Buffett changed his life.

19:48 - How writing handwritten letters helped Guy forge and develop extremely valuable and fulfilling relationships.

23:20 - What led Guy to purchase a charity lunch with Warren Buffett.

43:54 - What he learned from experiencing the great financial crisis as a fund manager.

51:45 - Why Guy values fulfillment and a life well-lived over money.

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.
Tune into the recent We Study Billionaires episode covering The Dhandho Investor by Mohnish Pabrai or watch the video.
Learn how to value a company by tuning into our review of The Little Book of Valuation by Aswath Damodaran or watch the video.
Related Episode: Listen to Guy Spier, The Education of a Value Investor–TIP014 or watch the video.
Related Episode: Listen to Investing and Life Masterclass w/ Guy Spier–TIP414 or watch the video.
Related Episode: Listen to How to Build Enduring Wealth w/ Guy Spier–RWH009 or watch the video.
Guy Spier’s book: The Education of a Value Investor.
William Green’s book: Richer, Wiser, Happier.
Follow Clay on Twitter.

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