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Getting Rich vs. Staying Rich

The Morgan Housel Podcast

The Story of Rick Gurren's Disappearance from Investing Trio

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  • Rick Gurren was a part of an investing trio with Warren Buffet and Charlie Munger, but disappeared due to his use of excessive debt and leverage in the 1970s.
  • Gurren's stock market losses in 1973 and 1974 caused him to be margin called and forced to sell his Berkshire stock to Buffet.
  • Buffet bought Gurren's Berkshire stock at under $40 a share.

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