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Cloning Successful Ideas in Investing
The chapter explores the concept of replicating successful strategies in investing, inspired by the teachings of Charlie Munger. It underscores the importance of learning from proven tactics, like the contrasting approaches of two California gas stations to customer service. Emphasizing the value of thorough research and adapting to changing circumstances, the chapter sets the stage for discussing investment principles and long-term success.
On today’s episode, Clay shares the most important lessons he’s learned from Chris Mayer.
Chris Mayer is the author of 100 Baggers and the co-founder and portfolio manager of Woodlock House Family Capital.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
05:02 - The potential dangers of cloning.
09:40 - What Clay learned from reading 100 Baggers by Chris Mayer.
26:39 - Common characteristics of 100 Baggers.
32:03 - Lessons from Chris’s lesser-known book — How Do You Know?
49:39 - Chris’s secret to success in long-term compounding.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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