We Study Billionaires - The Investor’s Podcast Network

TIP676: Richer, Wiser, Happier Q4, 2024 w/ Stig Brodersen & William Green

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Nov 17, 2024
Explore the intriguing dualities of investing, where humility meets confidence. Discover why authenticity in partnerships can simplify your professional life. Delve into the cult-like aspects of value investing and the wisdom shared by iconic figures. The hosts reflect on the richness of traveling with friends, blending life and business. They also discuss the importance of trust in partnerships and how personal values shape our choices, urging listeners to cultivate meaningful relationships for a richer experience.
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INSIGHT

Opposing Virtues in Investing

  • The opposite of a virtue can also be a virtue, especially in complex fields like investing.
  • This emphasizes the importance of nuance and avoiding dogma, as exemplified by the contrasting virtues of patience and knowing when to quit.
ANECDOTE

William Green's Alibaba Investment

  • William Green discusses his Alibaba investment, influenced by Charlie Munger and Lou Simpson, which declined significantly.
  • He highlights biases like authority bias, sunk cost fallacy, and loss aversion, illustrating the complexities of decision-making.
ADVICE

Navigating Complexity

  • Establish guiding principles but hold them lightly, acknowledging life's complexities.
  • Embrace uncertainty and avoid dogma, as the world often presents paradoxical truths.
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