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.
In 'Skin in the Game', Nassim Nicholas Taleb argues that having personal stakes in the outcomes of decisions is crucial for fairness, commercial efficiency, and risk management. The book highlights how individuals and systems that are insulated from the consequences of their decisions often make poor choices. Taleb draws on historical and contemporary examples to illustrate the importance of symmetry in risk and reward, and how this principle affects various domains, including politics, economics, and personal life. The book emphasizes that true learning and improvement come from experiencing the consequences of one's actions, a concept encapsulated in the Greek idea of 'pathemata mathemata' or 'guide your learning through pain'.
In today’s episode, Shawn O’Malley (@Shawn_OMalley_) chats with Clay Finck and Kyle Grieve of our We Study Billionaires podcast. Shawn reflects with Clay and Kyle on some of their favorite moments as Millennial Investing hosts in the past, from chatting with William Green to discussing whether we are in an “Everything Bubble” and how passive investing has affected markets.
You’ll learn how Clay has evolved as an investor since joining The Investor's Podcast Network, how Kyle built out his stock portfolio and the challenges of doing so publicly, what has resonated with them the most from studying legendary investors, and updates on our new show — The Intrinsic Value Podcast — plus so much more!
Prefer to watch? Click here to watch this episode on YouTube.
IN THIS EPISODE, YOU’LL LEARN
00:00 - Intro
00:29 - What to expect from our new show, The Intrinsic Value Podcast
03:10 - How Clay has evolved since joining The Investor's Podcast
13:00 - Whether markets are in an “Everything Bubble” and how to manage anxiety as an investor
17:08 - How Kyle built out his portfolio of individual stocks
37:31 - What it means to have skin in the game as a public personality and investor
45:03 - How passive investing has changed financial markets
49:38 - Why Clay and Kyle both choose to be active investors
58:53 - What surprised William Green most about legend investors from his interactions with them
1:02:40 - What has resonated with Clay and Kyle the most from studying legend investors
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
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The Intrinsic Value Podcast - The Investor’s Podcast Network 
