RWH043: Survive & Thrive w/ Guy Spier: Part 2
We Study Billionaires - The Investor’s Podcast Network
Intro
This chapter explores the self-defeating investment mistakes that can stifle wealth compounding and stresses the importance of avoiding certain company types. It also highlights the value of building strong relationships and engaging with diverse perspectives to achieve a fulfilling life beyond financial gains.
In this episode, William Green chats with renowned hedge fund manager Guy Spier, who has run the Aquamarine Fund since 1997. This conversation has been split into two episodes. Here, in Part 2, Guy shares insights on how to succeed over the long run by avoiding dumb investment behavior, building the right relationships, and recognizing our weaknesses. This is an unusually candid conversation between William & Guy—old friends who collaborated on Guy’s classic book, “The Education of a Value Investor.”
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:36 - What dumb investment behavior Guy Spier strives to avoid
05:12 - What type of companies he shuns
07:05 - Why good relationships are a key to financial & personal success
07:25 - Why we should be especially wary of leverage
15:46 - Why it’s vital to find “friends along the path” who support us emotionally
29:34 - Why it’s helpful to shine a light on our own weaknesses
41:18 - How he handles painful, contentious conversations
51:24 - How to engage with people whose beliefs & experiences differ from ours
1:07:05 - What role money does—or doesn’t—play in a rich & meaningful life
1:11:11 - What Guy learned from Warren Buffett’s exercise of writing your own obituary
1:31:39 - How reading great literature can make you wiser & happier
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Related Episode: William Green’s 2023 interview with Guy Spier | YouTube Video.
- Related Episode: William Green’s 2022 interview with Guy Spier | YouTube Video.
- Related Episode: William Green’s interview with Daniel Goleman & Tsoknyi Rinpoche | YouTube Video.
- Related Episode: William Green’s interview with Chris Davis | YouTube Video.
- The Dishcast podcast with David Brooks on “Transcending Hate & Loneliness”.
- Daniel Siegel’s book “The Developing Mind”.
- Harville Hendrix’s book “Doing Imago Relationship Therapy in the Space-Between”.
- Marcel Proust’s book “In Search of Lost Time”.
- Guy Spier’s book, “The Education of a Value Investor" – read reviews of the book.
- Subscribe to Guy Spier’s free newsletter.
- Guy Spier’s podcast and website.
- Guy Spier interviews William Green about his book, “Richer, Wiser, Happier”.
- William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
- Follow William Green on X (AKA Twitter).
- Check out all the books mentioned and discussed in our podcast episodes here.
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