Jake Taylor is the CEO of Farnam Street Investments and author of the book ‘The Rebel Allocator’, a book that help readers make better investment and business decisions. You can find Jake on Twitter at https://twitter.com/farnamjake1 and get his book from https://www.amazon.com/Rebel-Allocator-Jacob-Taylor/dp/173268832X Show Notes: Iron Law of Economic Survival Trade-offs between profit and brand Capturing intangible value Products as signalling devices Journalytic — Getting better at decision making Reducing the friction around journalling Joseph Campbell's Hero's Journey Shortening the brain’s feedback loop The Great Reshuffle The Thinker and The Prover Cheng versus Ch'i Plato’s cave analogy for business decision making What makes a good decision maker? Books Mentioned: The Rebel Allocator; by Jake Taylor The Wealthy Barber; by Dave Chilton The Nature of Value; by Nick Gogerty The Genius of the Beast; by Howard Bloom Happy; by Derren Brown

Jake Taylor, a seasoned value investor and author of "The Rebel Allocator," returns to share his insights on evolving in the investment landscape. He highlights the importance of listening during times of social isolation and discusses the intriguing business of chicken sexing as a metaphor for trusting intuition. The conversation also touches on the psychological safety of holding cash and connections between the shipping industry and active management. Finally, Jake reflects on life's limitations and the importance of purposeful living.

Jake Taylor, CEO of Farnam Street Investments, dives deep into the intrinsic value of Berkshire Hathaway, sharing crucial insights from Warren Buffett’s latest shareholder letter. He discusses the company’s financial strategies and the significance of its diverse segments. Taylor also evaluates whether Berkshire can serve as a cash substitute in investment portfolios. The conversation touches on value investing philosophies and the role of corporate culture in long-term success, alongside addressing listener queries about investing in stocks within Berkshire’s portfolio.