We Study Billionaires - The Investor’s Podcast Network TIP742: Invest like a Business Owner w/ David Fagan
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Aug 3, 2025 
David Fagan, a seasoned entrepreneur and investor, joins to share his unique insights on the synergy between business ownership and public market investing. He discusses how business owners often excel as investors due to their firsthand experience with risks and capital allocation. Fagan highlights the importance of daily habits like exercise and reading in maintaining focus and purpose. He also delves into the implications of financial independence, addressing how it influences relationships and personal fulfillment, and offers advice on the intricacies of going into business with friends.
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Entrepreneurship Enhances Investing
- Entrepreneurship equips you with patience and endurance crucial for investing success.
- Running a business provides insights on competitive advantage and execution that benefit investment decisions.
Unlearn Action in Investing
- Adapt your mindset when transitioning from fast-paced entrepreneurship to patient long-term investing.
- Avoid treating the stock market like a hustle; wait and trust management teams.
New Perspective on Dividends
- Dividends impose fiscal discipline preventing reckless spending in businesses.
- Business owners appreciate dividends as a way to get paid while waiting and diversify their concentrated wealth.
