The TRUTH About Capital vs Money w/ Paul Musson (E138)

Oct 30, 2025

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Truth transforms the way we think, act, and connect with others. By stepping into truth, we move beyond the need to be right or place blame and instead focus on understanding and moving forward with clarity.

Joining us on the show is Paul Musson, an investment consultant and expert, founder of Paddington Capital Management, and author of Capital Offence: Why Some Benefit at Your Expense. Paul shares his journey of embracing truth as a guiding principle in his life and how this shift has transformed the way he works and lives.

He reflects on his life before stepping into truth and shares how he learned to communicate complex ideas with simplicity. Listeners also gain valuable insight into Paul’s investment strategy and how it has helped him align with the right organizations.

Finally, Paul discusses why he wrote Capital Offence and explains the difference between capital and money. Additionally, he shares his perspective on solutions to the economic crisis.

Timestamps:

[00:00] Trailer

[01:50] Who is Paul Musson?

[07:38] Truth

[18:51] Life Before Truth

[27:16] Communication

[34:04] Investment strategy

[37:37] Book

[43:47] Capital vs. Money

[50:29] Fixing the Economy

[01:00:40] Bird Watching

Key Takeaways:

• If you always tell the truth, you never have to remember what you said. ~Paul Musson [07:42]

• “A wise man can learn more from a foolish question than a fool can learn from a wise answer.” ~Bruce Lee [28:52]

• The worst thing you can do when speaking with a very smart person who is running a business is to ask a leading question, because they will give you the answer you want to hear. ~Paul Musson [30:06]

• “Show me the incentive and I will tell you the behavior.” ~Charlie Munger [35:19]

• Capital is anything that you produce (a good or a service), while money is a medium of exchange that facilitates the exchange of the capital produced. ~Paul Musson [44:01]

• “When you find yourself in a hole, stop digging.” ~Paul Musson [50:54]

People Mentioned and Other Resources:

1. Warren Buffett

2. Capital Offence: Why Some Benefit At Your Expense: https://bit.ly/4qmqJXS

Keep In Touch with Paul Musson:

Website: https://paddingtoncapitalmgmt.com/

LinkedIn: https://www.linkedin.com/in/paulbmusson/

Facebook: https://www.facebook.com/paddingtoncap

X: https://x.com/paddingtoncap

Book: https://bit.ly/4qmqJXS

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