In 'Integrity: The Courage to Meet the Demands of Reality,' Dr. Henry Cloud explores the concept of integrity beyond simple honesty. He defines integrity as having the character to meet the demands of reality, which is achieved through six qualities: the ability to connect authentically and build trust, being oriented toward reality, working in a way that gets results, embracing and dealing with negative realities, being oriented toward growth, and having an understanding of the transcendent. Cloud uses examples from business leaders and sports figures to illustrate these qualities and emphasizes that integrity is a growth path that anyone can engage in and enjoy.
The New Penguin Dictionary of Modern Quotations is a valuable reference tool that includes over 8,000 quotations from 1914 to the present. It serves as a companion to the modern age, showcasing the wit and wisdom of a wide range of individuals, from Margot Asquith to Monica Lewinsky, and from George V to Frank Zappa. The dictionary is both entertaining and useful, making it a significant resource for anyone interested in modern quotations.
This revised and updated edition of *The Motley Fool Investment Guide* is designed to help both novice and sophisticated investors navigate today's market. The book provides solid information and advice on finding high-growth stocks, identifying volatile young companies, and using online sources for vital information. The authors, David and Tom Gardner, share their expertise and strategies that have helped their followers beat the market over the years. The guide emphasizes the importance of tuning out market hype and focusing on meaningful factors to achieve long-term investment success[1][4][5].
In this influential business book, Clayton Christensen shows how even the most outstanding companies can lose market leadership when they fail to adapt to disruptive innovations. Christensen explains why companies often miss new waves of innovation and provides a set of rules for capitalizing on disruptive technologies. The book uses examples from various industries, including the disk drive, mechanical excavator, steel, and computer industries, to illustrate trends that lead to success or failure in the face of disruptive technologies.
The book tells the story of the Oakland Athletics' 2002 season, where General Manager Billy Beane and his assistant Paul DePodesta used advanced statistical analysis, known as sabermetrics, to assemble a competitive team despite a limited budget. The approach, pioneered by Bill James, focused on metrics such as on-base percentage and slugging percentage rather than traditional measures like batting average and runs batted in. This data-driven strategy allowed the Athletics to compete with teams having much larger payrolls, like the New York Yankees, and achieve significant success, including a 20-game winning streak and a playoff appearance[2][3][5].
In this conclusion to the Age of Madness trilogy, Joe Abercrombie depicts a world in the midst of the Great Change, where the Breakers and Burners have seized power, and the old order is being torn down. The story follows characters like Citizen Brock, Citizeness Savine, King Orso, and Rikke as they navigate the chaos, destruction, and political upheaval. The book explores themes of governance, survival, and the complexities of human behavior during times of revolution and societal collapse. Known for his vivid characterizations, dark humor, and intense action sequences, Abercrombie delivers a morally complex and gripping conclusion to the trilogy.
The investment strategy discussed in this week's episode is diametrically opposed to my own value tendencies, but it still one that has done exceptionally well.
My guest is David Gardner, co-founder of the Motley Fool. He is unique in that he is both a pure investor--a true stock junkie--and an entrepreneur. His energy is remarkable. His positive vibes are something to behold. You'll hear it over audio, but it's ever more palpable in person.
Our conversation is about finding companies which are breaking rules in the right way and reshaping industries. David's goal is to find these companies early in and hold them forever.
If you love investing, you are going to love this regardless of your prior beliefs. Please enjoy my conversation with David Gardner on rule breakers.
For comprehensive show notes on this episode go to http://investorfieldguide.com/gardner
For more episodes go to InvestorFieldGuide.com/podcast.
To get involved with Project Frontier, head to InvestorFieldGuide.com/frontier.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub.
Follow Patrick on Twitter at @patrick_oshag
Books Referenced
The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail (Management of Innovation and Change)
The New Penguin Dictionary of Modern Quotations
Moneyball: The Art of Winning an Unfair Game
The Motley Fool Investment Guide: How The Fool Beats Wall Street's Wise Men And How You Can Too
The Wisdom of Crowds
The Motley Fools Rule Breakers Rule Makers : The Foolish Guide To Picking Stocks
Links Referenced
Totally Absorbed
FANG stocks
Henry Cloud (author)
“I had a lover’s quarrel with the world” by Robert Frost
As You Like it (Shakespeare)
Invest Like the Best episod with Morgan Housel
Don't Be a Dip: The 1 Thing You Need to Know About Buying on Dips
Board Game Agricola
Boardgamegeek.com
Show Notes
2:03 – (First question) – Among the experiments that David has run in his podcast, which one has he enjoyed the most
3:42 – A deep dive into the rule breaker mentality that David uses
4:39 - The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail (Management of Innovation and Change)
7:22 – What helps you to not sell a rule breaker amid big drawdowns.
7:33 – Totally Absorbed
8:32 – FANG stocks
12:25 – List of criteria in picking rule breaker stocks…starting with top dogs and first movers
19:34 – Second criteria…visionary leadership and the traits David looks for in a leader
22:02 – Henry Cloud (author)
22:58 – “I had a lover’s quarrel with the world” by Robert Frost
26:16 – Third criteria – competitive advantage and moats
32:47 – The New Penguin Dictionary of Modern Quotations
32:49 – As You Like it (Shakespeare)
40:36 – Moneyball: The Art of Winning an Unfair Game
41:31 – The Motley Fool Investment Guide: How The Fool Beats Wall Street's Wise Men And How You Can Too
42:43 – Invest Like the Best episod with Morgan Housel
42:45 – The Wisdom of Crowds
43:33 – Back to criteria, the fourth one, price momentum
45:47 – Don't Be a Dip: The 1 Thing You Need to Know About Buying on Dips
50:03 – Last criteria, something being overvalued and weigh that against the idea of whether a product or service is important based on whether people would miss it
52:10 – The Motley Fools Rule Breakers Rule Makers : The Foolish Guide To Picking Stocks
1:01:21 – Looking at David’s process for finding a stock and analyzing it
1:07:38 – The importance of taking these criteria in concert and how you can see the power of overvaluation
1:10:39 - Board Game Agricola
1:10:54 – Boardgamegeek.com
1:14:38 – Kindest thing anyone has done for David
Learn More
For more episodes go to InvestorFieldGuide.com/podcast.
Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub
Follow Patrick on twitter at @patrick_oshag
Invest Like the Best with Patrick O'Shaughnessy 
