RWH044: How To Beat The Market w/ Bryan Lawrence
We Study Billionaires - The Investor’s Podcast Network
Transformative Reflections and Influential Reading
This chapter explores a pivotal moment in the speaker's life, inspired by a lecture from Charlie Munger, leading to a career shift from investment banking. It also discusses the significance of instilling a love for reading in children through influential books and the broader impact of personal values in business.
In this episode, William Green chats with Bryan Lawrence, a highly successful hedge fund manager who runs an investment firm called Oakcliff Capital. Bryan almost never gives interviews, so this is a rare opportunity to hear him speak in depth about the advantages of a concentrated value strategy, how he finds new investments, what 6 questions he asks when analyzing any stock, what he’s learned from Buffett & Munger, & how to build a happy life.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
05:42 - What Bryan Lawrence learned from his hugely successful father.
16:30 - What Charlie Munger taught Bryan.
33:07 - How Shelby Cullom Davis turned $200,000 into $800 million.
39:14 - How Bryan has consciously built an investing edge.
43:25 - What he learned from meeting Warren Buffett.
47:15 - Why Bryan looks for three specific characteristics in any business.
59:18 - How to beat the market by making infrequent bets.
1:08:19 - Why he’s obsessed with identifying where he’s wrong.
1:10:17 - How he searches for new investment ideas.
1:14:32 - How he structures his day.
1:44:20 - How to think rationally about fossil fuels & climate change.
1:49:1 - How to build a happy life & great relationships.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Bryan Lawrence’s investment firm, Oakcliff Capital.
- Check out Poor Charlie’s Almanack.
- Dean Ornish & Anne Ornish's book Undo It.
- Robert Cialdini's book Influence.
- Alain de Boton's book The Consolations of Philosophy.
- Douglas Stone, Bruce Patton, & Sheila Heen's book Difficult Conversations.
- John Rothchild's book The Davis Dynasty.
- Vaclav Smil's book How the World Really Works.
- David Mackay's book Sustainable Energy Without the Hot Air.
- Gillian Zoe Segal's book Getting There.
- William Green’s podcast interview with Chris Davis | YouTube Video
- William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
- Follow William Green on X.
- Check out all the books mentioned and discussed in our podcast episodes here.
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