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The Importance of Humor in Life
"I feel like I've become increasingly earnest and I've kind of forgotten to lighten up," Markle says. Having a sense of humor is a way of reframing things and laughing, he adds. "If you don't have that, light will beat you down," the baseball legend concludes.
In this episode, William Green chats with Tom Gayner, one of the great long-term investors of our time. Tom is the CEO of the Markel Corporation, a global financial holding company, where he oversees about 20,000 employees. Here, he shares his time-tested advice on how to achieve enduring success in business & investing while also building a happy & fulfilling personal life.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
03:38 - How Tom Gayner made a fortune by setting up a retirement account at age 14.
10:59 - What he learned from his grandmother about the glory of long-term compounding.
16:29 - How to succeed through steady, persistent progress over long periods of time.
30:00 - Why humor, fun, & joyfulness are central aspects of Tom’s approach to work.
35:15 - Why it’s so helpful to set down your thoughts, principles, & values in writing.
38:33 - Why we should bet on companies that do things “for” their customers, not “to” them.
41:17 - What Charlie Munger teaches about the secret of success.
47:52 - How to flourish in business & life by compounding relationships built on trust & love.
1:00:46 - How Berkshire Hathaway embodies everything Tom looks for in a business.
1:09:08 - What we can learn about investing from the comedian Jerry Seinfeld.
1:12:17 - How Tom approaches the challenge of appraising a person’s talent & integrity.
1:13:23 - Why he prefers to aim for satisfaction, not optimization.
1:26:39 - Why you should never check your luggage when you travel.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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