We Study Billionaires - The Investor’s Podcast Network TIP754: Rule Breaker Investing w/ David Gardner
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Sep 19, 2025 
David Gardner, co-founder of The Motley Fool and a renowned stock-picker, challenges traditional investing wisdom with his unique approach to Rule Breaker Investing. He discusses his contrarian decision to disregard Buffett’s principles, sharing insights from his early investment in AOL that skyrocketed. Gardner reveals the six essential traits of rule-breaking stocks and emphasizes qualitative factors over conventional metrics. He also touches on conscious capitalism and names exciting stock picks for 2025, providing a fresh perspective on long-term success in the market.
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Play A Different Game Than Buffett
- David Gardner developed a rule-breaking investing style because competing with Buffett required playing a different game.
- He found huge winners by buying companies Buffett's value rules often dismissed as overvalued or unpredictable.
Accept Losing To Win
- Accept losses as part of investing and use them to learn and iterate.
- Embrace a 'lose to win' mentality similar to venture capitalists rather than trying to never lose.
Buying AOL In Thirds
- Gardner bought AOL in thirds because it felt expensive and volatile, then watched it multiply ~150x before merging with Time Warner.
- He learned management, media disruption, and timing lessons from that early position.
