The Michael Shermer Show How the Greatest Investors Win in Life and Markets
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Dec 21, 2024 
William Green, author of 'Richer, Wiser, Happier,' shares insights from his interviews with legendary investors like Buffett and Munger. He discusses how their unique skills, such as resilience and critical thinking, extend beyond wealth, helping us navigate life's uncertainties. Green elaborates on the influence of luck and timing in success, the importance of recognizing biases in decision-making, and the interplay between money, happiness, and ethical investing. His experiences shed light on the essential habits for financial independence.
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Green's Journey to Finance
- William Green's unexpected interest in the stock market led him to interview famous investors.
- He found these investors to be fascinating characters, making it an interesting pursuit.
Workarounds for Irrationality
- Kahneman and Tversky focused on proving irrationality, but investors find workarounds.
- Great investors actively compensate for their biases, unlike Kahneman who underestimated his book's completion time.
Embrace Disagreement
- Structure your life with disagreement, not yes-men, to combat biases.
- Charlie Munger consciously sought disconfirming evidence through sparring partners like Warren Buffett.