In this engaging discussion, industry titans Ray Dalio, founder of Bridgewater Associates, and investing legend Bill Miller join Chris Davis, a Berkshire Hathaway board member, alongside scholar Michael Berg. Dalio emphasizes the power of self-awareness in navigating personal weaknesses, while Miller shares his big Bitcoin insights. Davis reflects on timeless wisdom from Warren Buffett and Charlie Munger. Berg sheds light on fostering a richer relationship with money, encouraging listeners to appreciate their financial journey and embrace personal growth.

IN THIS EPISODE, YOU’LL LEARN: 00:06:41 - Why he views plunging prices and widespread pessimism as signals to buy stocks. 00:08:19 - Why this period has been “extraordinarily painful” for Miller and many of his peers. 00:08:54 - Why war, inflation, and rising interest rates mean we’re in a new investment environment. 00:15:06 - Why he believes the battered stock market looks poised for a rebound. 00:15:32 - How to handle the emotional pressure of brutal downturns in financial markets. 00:17:31 - How he came to be the biggest individual shareholder of Amazon not named Bezos. 00:26:28 - What stocks he’s looking at now that seem wildly cheap. 00:25:13 - Why he’s bullish about Chinese tech and internet stocks like Baidu and Alibaba.  00:49:39 - Why he regards Bitcoin as an insurance policy against financial catastrophe. 00:55:59 - What he thinks Warren Buffett and Charlie Munger don’t understand about Bitcoin. 01:15:58 - Why he has over 80% of his personal investment portfolio in Bitcoin and Amazon. 01:22:36 - What other major investments he owns in his personal portfolio.  01:23:49 - Why he plans to retire at the end of 2022 and what he’ll do with his new-found freedom. 01:34:08 - What gives him satisfaction when he looks back on his career as a legendary investor.  *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Bill Miller’s investment firm, Miller Value Partners. William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book. “On a Certain Blindness in Human Beings” by William James Is Crypto Re-Creating the 2008 Financial Crisis? An interview with Hilary Allen. A Meeting of Great Minds: Bill Miller & William Green interview each other in 2021. Preston Pysh’s interview with Bill Miller’s son and successor, Bill Miller IV. Related Episode: Legendary Investor Bill Miller - TIP247. Related Episode: Legendary Investor Bill Miller On Stocks, Commodities, & Crypto - TIP180  Related Episode: Investing Legend Bill Miller On Apple, Amazon, Bonds, & Tesla - TIP117. William Green’s Twitter. SPONSORSSupport our free podcast by supporting our sponsors: River Toyota Sun Life The Bitcoin Way Range Rover Sound Advisory BAM Capital Fidelity SimpleMining Briggs & Riley Public Shopify Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

William Green showcases some of the most valuable insights from four investing superstars who have recently appeared on the Richer, Wiser, Happier podcast: Joel Greenblatt, Bill Miller, Howard Marks, & François Rochon. Here, these famed investors share practical lessons on how to deal with uncertainty & handle the emotional challenges of investing in turbulent times. William adds his own observations, drawing on his conversations with these great investors & with legends like Sir John Templeton, Peter Lynch, & Charlie Munger.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro03:34 - How a disastrous investment taught Joel Greenblatt that anything can happen.10:34 - What Fidelity legend Peter Lynch learned from a shocking setback early in his career. 12:06 - How to protect ourselves from uncertainty, bad luck, & our own analytical mistakes.12:49 - Why Howard Marks warns that you shouldn’t push the limits if you want to avoid ruin.14:48 - How Joel Greenblatt deals with mistakes by learning from them, then moving forward.28:08 - How Joel handles the “kick in the stomach” when an investment goes wrong.35:02 - How to succeed by taking advantage of the wild emotional mood swings of the crowd.38:30 - Why stock pickers must learn to value businesses, buy at a discount, & then wait.40:17 - How Bill Miller handles the discomfort of brutal losses during the most turbulent times.43:00 - What Bill advises regular investors to do so they can endure the pain of market mayhem. 44:33 - Why Howard Marks says we need to be honest about our tolerance for risk & loss.46:06 - How the best investors diversify or concentrate in ways that suit their temperament. 50:07 - Why Howard believes that “emotion is the greatest enemy of superior investing.”52:35 - How Sir John Templeton thrived by hunting for bargains in the most-hated markets.1:00:41 - Why Howard Marks thinks he was wrong to be a “knee-jerk skeptic” about Bitcoin.1:03:30 - How to safeguard against our own biases, hubris, & overconfidence.1:08:58 - Why François Rochon is convinced that it’s rational to be optimistic about the future.1:10:51 - What history shows about mankind’s extraordinary ability to find solutions to its problems.1:21:31 - Why Warren Buffett says that bad news is an investor’s best friend.1:23:23 - Why Buffett regards babies being born in America today as “the luckiest crop in history.”Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Listen to William's interview with Ray Dalio, The Changing World Order - TIP410, or watch the video. Listen to William’s interview with Joel Greenblatt, How to Win the Investing Game - RWH003, or watch the video. Listen to William’s interview with Bill Miller, Investing Legend Bill Miller on Amazon, Bitcoin, & Buffett - RWH007, or watch the video. Listen to William’s interview with Howard Marks, Investing Wisely In An Uncertain World - RWH002, or watch the video. Listen to William’s interview with François Rochon, The Best of the Best - RWH016, or watch the video. Berkshire Hathaway’s 2015 annual report, featuring Buffett’s optimistic view of the future. William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book. Follow William Green on Twitter. SPONSORSSupport our free podcast by supporting our sponsors: River Toyota TurboTax Fidelity Monarch Money Meyka Simon & Schuster CI Financial Vacasa Long Angle Fundrise iFlex Stretch Studios American Express Shopify Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Dr. Bill Miller, an expert in Motivational Interviewing, discusses the origins and key tenets of Motivational Interviewing. The podcast explores the importance of building a strong therapeutic relationship and the significance of client language in addressing ambivalence. It also emphasizes the transformative effect of learning motivational interviewing and the key elements of partnership, acceptance, compassion, and empowerment in its practice. The speaker reflects on their desire for change and explores alternative ways to find balance and meaning. The application of Motivational Interviewing in addiction counseling and personal relationships is discussed, highlighting the importance of active listening.

Legendary investor Bill Miller, known for outperforming the market for 15 consecutive years, discusses various topics, including his thoughts on the Trade War, his fully invested stance in stocks, and why the traditional value investing approach has been broken. He also shares advice for value investors, explores the perception of value investing, and discusses the changes in the market, such as the rise of technology companies. Additionally, he dives into the use of momentum in stock assessment, highlighting factors like volatility and dividends.