The Knowledge Project with Shane Parrish #186 Tom Gayner: Invest Like The Best
833 snips
Jan 23, 2024 
Tom Gayner, CEO of Markel Group and director at Coca-Cola, shares invaluable insights shaped by his experiences with Charlie Munger and Berkshire Hathaway. He delves into the nuances of opportunity cost and differentiates between good and bad debt. Gayner candidly discusses the impact of patience in investing and the importance of ethical decision-making. His reflections on navigating crises, including the COVID-19 pandemic, emphasize the significance of trust and maintaining a long-term vision, while redefining success through relationships and community impact.
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Deserving What You Want
- Deserve what you want by consistently adding value and being helpful to others.
- The world will reciprocate and support your efforts over time, leading to profound success.
Quaker Values in Business
- Quaker values emphasize treating everyone equally, impacting business practices like fixed pricing.
- This fosters trust and customer loyalty, leading to long-term success, as seen with R.H. Macy.
Vienna Water
- Shane Parrish shares an anecdote about overpriced water in Vienna to illustrate a business model.
- This model prioritizes short-term profit from tourists over building long-term customer relationships.
