We Study Billionaires - The Investor’s Podcast Network

chevron_right

TIP398: Wisdom from the Greatest Investors w/ William Green

whatshot 18 snips

Nov 21, 2021

Guest

William Green

Join William Green, author of "Richer, Wiser, Happier," as he shares invaluable lessons from legendary investors. He reveals which of Charlie Munger's recommended books stands out, and discusses the importance of having an inner scorecard. Green debates concentration versus diversification in investing, considering how Buffett and Munger’s legacy will endure. He also introduces Matthew McLennan, an impressive investor with a unique background, and emphasizes the need to align investments with personal values for a fulfilling financial future.

01:45:08

forum

Ask episode

web_stories

AI Snips

view_agenda

Chapters

menu_book

Books

auto_awesome

Transcript

info_circle

Episode notes

question_answer

ANECDOTE

Munger's Praise and Green's Vulnerability

Charlie Munger praised William Green's book, boosting Green's confidence.
Green then realized he still craves external validation, highlighting self-deception.

volunteer_activism

ADVICE

Know Your Biases

Investors should rewrite Munger's 24 biases, adding their own.
Understanding your quirks, like Ken Schubenstein's authority bias, is crucial.

question_answer

ANECDOTE

External Validation and Missed Opportunities

Even Mohnish Pabrai, known for his inner scorecard, felt validated by Buffett.
William Green missed Bitcoin's rise due to book writing and feels FOMO.

Get the Snipd Podcast app to discover more snips from this episode

Navigating Self-Doubt in Investment

02:01 • 23min

chevron_right

Empowering Financial Futures: Tools for Career and Wealth Management

24:35 • 3min

chevron_right

Investing Strategies: Concentration vs. Diversification

28:03 • 19min

chevron_right

Unconventional Beginnings: The Journey of a Unique Investor

46:44 • 4min

chevron_right

Navigating Uncertainty in Investment

50:53 • 9min

chevron_right

The Emotional Challenge of Investing

59:54 • 4min

chevron_right

Navigating Investment Dynamics

01:03:51 • 26min

chevron_right

Meaningful Connections: Investing in Values

01:30:13 • 19min

chevron_right

Richer, Wiser, Happier

How the World's Greatest Investors Win in Markets and Life

William Green

In Richer, Wiser, Happier, William Green draws on interviews conducted over twenty-five years with many of the world’s greatest investors. The book highlights that the most successful investors are mavericks and iconoclasts who question conventional wisdom and think rationally, rigorously, and objectively. They maximize their odds of long-term success in markets and life by drawing insights from diverse fields such as neuroscience, economic history, psychology, philosophy, and more. Green explains how these investors can teach us not only how to become rich but also how to improve our thinking, decision-making, risk assessment, and resilience, and how to turn uncertainty to our advantage.

Zen and the Art of Motorcycle Maintenance

Robert Pirsig

This classic novel by Robert M. Pirsig is a personal and philosophical odyssey that delves into the author's search for meaning. The narrative follows a father and his son on a summer motorcycle trip from the Midwest to California, intertwining a travelogue with deep philosophical discussions. The book explores the concept of 'quality' and how it informs a well-lived life, reconciling science, religion, and humanism. It also touches on the author's own struggles with his past and his philosophical quest, making it a touching and transcendent exploration of human experience and endeavor.

Stig Brodersen talks with William Green, the author of “Richer, Wiser, Happier.” They explore how the best investors can teach us not only how to become wealthy but inspire us to become better versions of ourselves.

IN THIS EPISODE, YOU’LL LEARN:

00:53 - Which book that Charlie Munger had recently said is “one of the best ever written.”
06:46 - Whether the best investors truly live by an inner scorecard.
11:09 - Whether there is such a thing as the “right background” to become a successful investor.
24:36 - Whether concentration indeed is how to become rich and diversification is how to stay rich.
32:59 - What will happen to the culture in the value investing community when Buffett and Munger are no longer among us.
43:14 - Who is Matthew McLennan, and why is he one of the most impressive investors in the world.
57:15 - How does William Green invest?
01:12:26 - How William Green’s relationship is with Guy Spier.
01:26:18 - How can we live and invest accordingly to our values?
01:34:54 - Whether we should learn from successful investors who do not have the right values?

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
William Green’s book, Richer, Wiser, Happier – read reviews of this book.
Our conversation with William Green about Richer, Wiser, Happier.
Our conversation with William Green about The Great Minds of Investing.
Visit William Green’s website.
Stig’s interview with Mohnish Pabrai about Seritage Growth Properties.

SPONSORS

Support our free podcast by supporting our sponsors:

River
Toyota
Range Rover
Vacasa
AT&T
The Bitcoin Way
USPS
American Express
Onramp
Found
SimpleMining
Public
Shopify

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Learn more about your ad choices. Visit megaphone.fm/adchoices

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Home Top podcasts Popular guests