In 'Give and Take', Adam Grant examines the surprising forces that shape success, highlighting the differences between givers, matchers, and takers. Givers contribute to others without expecting anything in return, matchers aim to trade evenly, and takers strive to get as much as possible from others. Grant uses cutting-edge evidence and captivating stories to show how these styles impact success across various industries. The book emphasizes the benefits and challenges of adopting a giver mentality and provides practical advice on how to build successful relationships and achieve extraordinary results.
Written by Benjamin Graham, 'The Intelligent Investor' is a seminal work on value investing that has inspired millions since its original publication in 1949. The book emphasizes the importance of distinguishing between investing and speculation, calculating the intrinsic value of companies, and maintaining a margin of safety. The revised edition includes updated commentary by Jason Zweig, who provides modern examples and insights to help readers apply Graham's principles in today's market. Warren Buffett, a disciple of Graham, has praised the book as 'the best book about investing ever written'.
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.
Episode 586: Shaan Puri sits down with Mohnish Pabrai for a rare interview about value investing.
Mohnish is sometimes called the "Indian Warren Buffett" for having turned $1M into over $1B+ through stock investing. In this podcast they talk about how founders can become great investors, how to avoid big mistakes, and lessons learned from Buffett & Munger.
Want to see Sam and Shaan’s smiling faces? Head to the MFM YouTube Channel and subscribe - http://tinyurl.com/5n7ftsy5
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Show Notes:
(0:00) Intro
(1:41) Why entrepreneurs make the best investors
(4:130) How Warren Buffett’s pre-paid for his college education
(8:45) Becoming Ben Graham’s Protege
(12:41) What Buffett learned about branding from See’s Candies
(15:45) Buffett’s failed play to be a candy mogul
(18:44) Identifying offering gaps
(20:22) Getting an MBA at age 14 as the son of an entrepreneur
(23:33) The 3 tells of a future millionaire
(25:56) Mohnish builds his first product with maxed out credit cards at 24
(27:59) The 168 hour framework
(31:13) “Entrepreneurs do not take risks”
(32:38) How Richard Branson launches Virgin Atlantic with no money
(35:31) How 0.1 percent of the population owns 70 percent of all the motels in America
(38:31) The unfair advantage of being a low-cost producer
(40:20) How Mohnish turned his first million into $13M in 5 years
(43:39) Pabrai Funds grows to $600M in assets in less than 10 years
(47:35) What Mohnish knows about fundraising that we don’t
(50:26) Pivoting from tech investments in 1999 to value investments
(53:13) $2M lunch with Warren Buffett
(58:09) Be a harsh grader of people
(1:01:53) The Givers, The Takers, and The Matchers
(1:04:40) “Heads I win, tails I don’t lose much”
(1:09:26) Private markets v public auctions
(1:13:35) The #1 trait that makes a great investor
(1:15:01) What people of Reddit think of Mohnish Pabrai
(1:16:31) Starting capital, annual rate of return, length of runway
(1:17:24) The Rule of 72
(1:21:50) Circle the Wagons Philosophy
(1:23:35) Losing $3B in one unfortunate event
(1:28:49) Be fearful when the world is greedy; Be greedy when the world is fearful
(1:29:17) What a value investor thinks of bitcoin
(1:30:26) Nick Sleep bets
(1:42:30) The Best Of: Capital Allocators
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Links:
• The Intelligent Investor - https://tinyurl.com/3jmpjrmc
• The Dhandho Investor - https://tinyurl.com/53p9bhfv
• Mohnish on Twitter - https://twitter.com/MohnishPabrai
• Get HubSpot's Free AI-Powered Sales Hub: enhance support, retention, and revenue all in one place https://clickhubspot.com/sym
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Check Out Shaan's Stuff:
Need to hire? You should use the same service Shaan uses to hire developers, designers, & Virtual Assistants → it’s called Shepherd (tell ‘em Shaan sent you): https://bit.ly/SupportShepherd
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Check Out Sam's Stuff:
• Hampton - https://www.joinhampton.com/
• Ideation Bootcamp - https://www.ideationbootcamp.co/
• Copy That - https://copythat.com
• Hampton Wealth Survey - https://joinhampton.com/wealth
My First Million is a HubSpot Original Podcast // Brought to you by The HubSpot Podcast Network // Production by Arie Desormeaux // Editing by Ezra Bakker Trupiano
My First Million 
