Join William Green, author of 'Richer, Wiser, Happier' and host of a podcast by the same name, as he unpacks the essential traits of successful investors like Charlie Munger and John Templeton. Green emphasizes the balance between learning from legends and cultivating individual strategies. Discover the importance of resilience, risk management, and emotional discipline in investing. He shares inspiring stories, including Arnold Vandenberg's journey from hiding during the Holocaust to becoming a successful investor focused on personal fulfillment.
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Cloning vs. Maverick
Learn from successful investors, studying their strategies and approaches.
Develop your own unique perspective and be willing to diverge from the crowd.
insights INSIGHT
Eccentricity of Great Investors
Successful investors are often eccentric and obsessive, deeply immersed in their craft.
This intensity and focus can lead to neglecting other aspects of life, like family.
question_answer ANECDOTE
Munger's Reading Habit
Charlie Munger, known for his voracious reading, reportedly reads around 500 books a year.
Monish Pabrai describes this as being like Munger has lived for 300 years due to his knowledge accumulation.
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How the World's Greatest Investors Win in Markets and Life
William Green
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.
Against the Gods
The Remarkable Story of Risk
Peter L. Bernstein
Against the Gods: The Remarkable Story of Risk chronicles the intellectual journey that has led humanity from relying on oracles and soothsayers to using sophisticated tools of risk management. The book delves into the history of probability, starting from ancient civilizations and their limitations in understanding chance, to the modern era where risk is quantified and managed. Bernstein discusses how the development of probability theory and risk management has been a key factor in distinguishing modern times from the past[2][4][5].
The principles of investing are fairly simple to understand. Application requires some intensity.
William Green is the author Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life. Green also hosts a podcast with the same title. Robert Brokamp caught up with him for a conversation about:
- What successful investing comes down to.
- The personality traits of market beaters.
- Investing lessons from Charlie Munger, Howard Marks, and John Templeton.
Motley Fool Money 
