In *The Creative Act: A Way of Being*, Rick Rubin distills the wisdom he has gained from a lifetime of working with artists across various genres. The book is not just about music production but about the broader creative process and how it applies to everyone's life. Rubin emphasizes the importance of reconnecting with a state of innocence, being aware of the world, and tapping into what he calls 'Source'—an infinite and constant flow of ideas and inspiration. The book is structured around 78 areas of thought, providing practical wisdom, philosophical insights, and encouragement for anyone seeking to enhance their creative expression.
In this book, Christopher W. Mayer explores the concept of general semantics and its application to investing and life. He discusses the work of Alfred Korzybski and the importance of understanding the limits of our knowledge. The book delves into tools for effective transmission and retention of knowledge, the differences between facts and inferences, and the need for a nuanced view of the world beyond binary perspectives. Mayer emphasizes the importance of continuous learning and critical thinking in investing and life[1][2][5].
In 'Philosophy as Poetry', Richard Rorty explores the intersection of philosophy and poetry, challenging traditional notions of philosophical inquiry. The book, based on his 2004 Page-Barbour lectures, examines the history of philosophy from ancient Greeks to modern analytic philosophy, and concludes by highlighting the romantic tradition and pragmatism. Rorty's work emphasizes philosophy as a creative endeavor to improve human lives.
Back by popular demand, Clay Finck brings back Chris Mayer to chat about his book, How Do You Know – A Guide to Clear Thinking About Wall Street, Investing, and Life. This book is one that really made us think as it is not your conventional investing book and questions much of traditional thinking in the world of finance. If you’re interested in becoming a better thinker as an investor, then this episode is a must-listen.
Chris is the author of 100 Baggers and How Do You Know?, and the co-founder and portfolio manager of Woodlock House Family Capital.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro.
02:13 - How being a learning machine has impacted Chris as an investor.
07:30 - Chris’ goal as a long-term investor in public equities.
09:59 - What general semantics is, and how it relates to investing.
10:42 - Finance terms that investors use that muddy the waters of how people think about stocks.
13:10 - How either/or thinking doesn’t align with how the real world typically operates.
14:31 - Why can we do without broad terms as investors such as: “GDP,” “the economy,” “value investors,” “growth investors,” etc.
20:17 - Why we shouldn’t always take labels and names at face value.
22:20 - What companies Chris owns are in what many would call “unattractive industries.”
24:21 - Chris’ opinion on what drives long-term shareholder returns.
27:24 - What Sosnoff’s Law is.
30:17 - How meeting management teams play into Chris’ investment process.
33:17 - Why Chris believes that “This Time is Always Different” and that reversion to the mean is a flawed concept.
42:58 - How Chris thinks about judging what numbers actually mean rather than judging the numbers themselves.
44:06 - Why we shouldn’t take accounting earnings at face value.
47:50 - Why Chris encourages investors to develop a “delayed reaction.”
50:29 - How Chris developed the ability to not take himself too seriously.
55:08 - Chris’ book recommendations.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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