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Warren Buffett's Money Mind
At age 11, Warren Buffett was already investing in stocks. By high school, he was running various small business operations. From 1957 to 1961, Warren's partnership returned 251% versus the market's average of 74%. The second step Haggs are mentioned in developing a money mind is taking action.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:54 - What it means to have a “Money Mind”.
10:08 - How Warren's father’s Libertarian viewpoints rubbed off on Warren’s business mind.
24:29 - How Buffett continued to evolve as an investor as the investment landscape changed.
29:24 - Tom Gayner’s description of the three stages of value investing that has played out over time.
36:15 - How Bill Miller helped value investors realize that value is sometimes found in the most unexpected places.
45:04 - How Buffett’s mindset differs from that of academics.
45:23 - Why Buffett views stock market volatility as an opportunity rather than the risk in a company.
50:21 - Why investors focused on the process rather than the outcome are better positioned to succeed in the long run.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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