Podcast appearances and mentions of Charlie Munger

On today's episode, Kyle Grieve chats about one of the most iconic businesses in history—Coca-Cola—and explores its enduring competitive advantages, its remarkable turnaround under CEO Roberto Goizueta, and what Warren Buffett saw that made it one of Berkshire Hathaway's most legendary investments. Kyle unpacks why Coke's brand power, global distribution, and intelligent capital allocation have helped it dominate for over a century and why understanding this story can help you spot other life-changing investments. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 02:03 - What gives Coca-Cola four enduring edges over competitors worldwide. 08:04 - A brief overview of Coca-Cola's two primary business segments. 09:38 - Why Goizueta's personality reshaped Coca-Cola's future in unexpected ways. 11:14 - What makes Coca-Cola's brand unforgettable across cultures and decades. 25:16 - The unique metric Goizueta used to unlock hidden value. 27:12 - What Warren Buffett saw before betting big on Coca-Cola. 39:40 - A mental model experiment Munger used to gauge Coke's potential. 48:48 - How inversion revealed Coca-Cola's moat through Charlie Munger's lens. 50:03 - The real story behind Coca-Cola's infamous recipe change. 55:43 - Why Coke's scale and network keep competition permanently outmatched. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠. Join the exclusive ⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Buy I'd Like the World to Buy a Coke here. Buy The Warren Buffett Way here. Read Charlie Munger's $2 trillion Coke hypothesis here Follow Kyle on ⁠⁠⁠X⁠⁠⁠ and ⁠⁠⁠LinkedIn⁠⁠⁠. Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠. Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠. Check out our ⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠. Follow our official social media accounts: ⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠. Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠. Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠. Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠. SPONSORS Support our free podcast by supporting our ⁠⁠⁠⁠⁠sponsors⁠⁠⁠⁠⁠: ⁠⁠SimpleMining⁠⁠ ⁠⁠Hardblock⁠⁠ ⁠⁠AnchorWatch⁠⁠ ⁠⁠Fundrise⁠⁠ ⁠⁠DeleteMe⁠⁠ ⁠⁠CFI Education⁠⁠ ⁠⁠Vanta⁠⁠ ⁠⁠The Bitcoin Way⁠⁠ ⁠⁠Onramp⁠⁠ ⁠⁠Indeed⁠⁠ ⁠⁠Shopify⁠⁠ HELP US OUT! Help us reach new listeners by leaving us a ⁠⁠⁠⁠⁠rating and review⁠⁠⁠⁠⁠ on ⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://premium.theinvestorspodcast.com/ Support our show by becoming a premium member! ⁠⁠⁠https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Mohnish Pabrai's Session with Ashoka Investment Club on April 22, 2025. (00:00:00) - Introduction (00:00:47) - Charlie Munger's mental models; Poor Charlie's Almanack (00:07:38) - Cloning is the best mental model (00:08:45) - Sam Walton & Family; Walmart (00:10:36) - Microsoft (00:13:31) - Bridge (00:14:51) - Pabrai Funds: Cloned model from the Buffett Partnerships (00:17:41) - Selecting a stock (00:19:12) - Macro-economic factors; D-Mart & Shrimp farming in India (00:23:32) - Circle of competence; John Arrillaga (00:24:38) - Commodity producers; Saudi Aramco (00:27:26) - Look for anomalies, Investing in Turkiye & Reysas (00:33:54) - Learning from mistakes; Satyam Computers (00:39:35) - Nifty-50 in the 1970s; Walmart The contents of this website are for educational and entertainment purposes only, and do not purport to be, and are not intended to be, financial, legal, accounting, tax or investment advice. Investments or strategies that are discussed may not be suitable for you, do not take into account your particular investment objectives, financial situation or needs and are not intended to provide investment advice or recommendations appropriate for you. Before making any investment or trade, consider whether it is suitable for you and consider seeking advice from your own financial or investment adviser.

In this special celebratory episode, William Green spotlights some of the most important lessons from the greatest investor of all time: Warren Buffett. In honor of Buffett's historic decision to retire after 60 years as Berkshire Hathaway's CEO, William offers his thoughts on Buffett's legacy & Berkshire's future; he also shares powerful highlights from his conversations about Buffett with Joel Greenblatt, Nick Sleep, Thomas Russo, Chris Davis, Chuck Akre & Christopher Bloomstran. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 04:20 - What makes Berkshire Hathaway's annual meeting a joyous experience. 06:13 - How Warren Buffett's virtues & values shone through at this year's AGM. 14:51 - How he & Charlie Munger made most of their money off 8 or 9 big bets. 22:41 - What Buffett taught Joel Greenblatt about buying great businesses. 27:24 - What stunned Greenblatt when he finally met Buffett. 33:45 - Why Chuck Akre attributes his enormous success to Buffett's teachings. 38:18 - What Thomas Russo learned from Buffett about reducing “agency risk.” 46:17 - How Buffett inspired Nick Sleep to do what he already knew was right. 52:34 - Why Christopher Bloomstran thinks all CEOs should study Berkshire. 1:19:54 - Why Buffett focuses relentlessly on resilience in the face of extreme risks. 1:22:48 - What principles guide Greg Abel's philosophy of asset allocation. 1:26:00 - Why Berkshire directors like Chris Davis vow to protect its unique culture. 1:33:39 - How he achieved staggering success without making enemies. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠here⁠. Join the exclusive ⁠TIP Mastermind Community⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Berkshire Hathaway's annual reports since 1995. Robert Hagstrom's book The Warren Buffett Way. Dale Carnegie's book How to Win Friends & Influence People. William Green's podcast episode with Joel Greenblatt. William Green's podcast episode with Thomas Russo. William Green's podcast episode with Christopher Bloomstran. William Green's podcast episode with Chris Davis. William Green's book, “Richer, Wiser, Happier” – ⁠read the reviews of this book⁠. Follow William Green on ⁠X⁠. Check out all the books mentioned and discussed in our podcast episodes ⁠here⁠. Enjoy ad-free episodes when you subscribe to our ⁠Premium Feed⁠. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠The Intrinsic Value Newsletter⁠. Check out our ⁠We Study Billionaires Starter Packs⁠. Follow our official social media accounts: ⁠X (Twitter)⁠ | ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠Facebook⁠ | ⁠TikTok⁠. Browse through all our episodes (complete with transcripts) ⁠here⁠. Try our tool for picking stock winners and managing our portfolios: ⁠TIP Finance Tool⁠. Enjoy exclusive perks from our ⁠favorite Apps and Services⁠. Learn how to better start, manage, and grow your business with the ⁠best business podcasts⁠. SPONSORS Support our free podcast by supporting our ⁠sponsors⁠: ⁠SimpleMining⁠ ⁠⁠Hardblock⁠ ⁠AnchorWatch⁠ ⁠Fundrise⁠ ⁠DeleteMe⁠ ⁠CFI Education⁠ ⁠Vanta⁠ ⁠The Bitcoin Way⁠ ⁠Onramp⁠ ⁠Indeed⁠ ⁠Shopify⁠ HELP US OUT! Help us reach new listeners by leaving us a ⁠rating and review⁠ on ⁠Spotify⁠! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

On today's special episode of I AM HOME, we're revisiting one of our most insightful conversations in honor of the Berkshire Hathaway Annual Shareholders Meeting, which took place earlier this month. Originally recorded in 2023, this episode remains as relevant and inspiring as ever. Our hosts are joined by Amy Myers, Chief Marketing Officer at NFM, for a captivating interview with Todd Combs—a multi-billion-dollar investment manager at Berkshire Hathaway and the President and CEO of GEICO. Todd takes us behind the scenes of his incredible journey: from sitting in a Columbia University lecture hall listening to Warren Buffett, to an unforgettable meeting with Charlie Munger at the California Club and ultimately accepting the call to join Berkshire Hathaway. Join us for a personal and profound look into the world of high stakes investing, following your childhood dreams and the importance of building a sense of home wherever life takes you. Resources: I Am Home | Podcast on Furniture and Family | NFM

Verneri Pulkkinen, Vernerin vartin vetäjä, laventaa markkinakatsauksen Samin kanssa moninkertaiseksi. He käyvät läpi tariffit, kauppasodan, USA:n, Euroopan ja Kiinan peliliikkeet ja osakemarkkinoiden reaktiot niihin. Mukana myös omakohtaisten sijoitusten pohdintaa. Jaksossa ei anneta sijoitussuosituksia.(00:00) Vernerin vartin orastava Eurooppa-optimismi Verneri Pulkkinen(02:00) Trumpin tullit ja Talebin antihaurausteoria(04:00) Kiinan ja USA:n ja Euroopan tuotanto vs. kulutus(06:00) Eurooppa ja koronatukipaketin kritiikki(08:00) Edulliset eurooppalaiset pankkiosakkeet(10:00) Trumpin vahvistava Eurooppa-vaikutus, Nordean osakkeen osto(12:00) Korkosyklit ja rakennussektorin digitalisaatio, Admicom(14:00) Analyytikoiden odotukset, edulliset suomalaisyhtiöt(16:00) Yhdysvaltojen tariffien vaikutukset ja satama-aktiviteetin romahdus(19:00) Ruotsin laatuyhtiöt ja pienyhtiövertailu perintöveron vaikutuksella(21:00) Kauppasota, Kiinan halpatuonti ja energiainfra(23:00) Saksan elvytys ja ylijäämä. Ukrainan vaikutus Eurooppaan(26:00) Euroopan vs. USA:n varallisuudet ja velat(29:00) Fedin korkokäyräriski ja markkinavaikutukset(33:00) Perintövero, sijoitushorisontti ja Buffettin vanha tupakantumppi-filosofia(37:00) Pääoma, venture capital, USA:n kehitysresurssit(40:00) Neste, valtio-omisteiset yhtiöt ja investoinnit(42:00) Omistajuuden paikallisuus ja eurooppalainen sääntely(44:00) Sananvapaus, USA vs Eurooppa vs Kiina(47:00) Pääomaomistaminen eli Private equity – kasvu, kritiikki ja toimintamalli(49:30) Osakkeet vs. kiinteistöt Charlie Munger vs Warren Buffett(51:30) Neuvottelija Sisäpiirissä Vernerin lähdepakki ja Mikael Rautasen kirjaKatso Sisäpirijaksot ja tue Samiahttps://www.youtube.com/channel/UCRI34L9OtDJuZpaWicbNXzg/join#neuvottelija Sami Miettinen

Pablo Martínez Bernal, gran conocedor de la figura de Buffett, como inversor y como empresario, visita Tu Dinero Nunca Duerme. Warren Buffett sigue siendo el mejor inversor del mundo. Pero desde hace unos días, lo es más por su historial que por su labor diaria. Porque el sabio de Omaha anunció que se retiraba, por sorpresa, en la última conferencia anual de inversores de Berkshire Hathaway. Y a partir de ahí se desataron las especulaciones, ¿quiénes serán sus sucesores: en la dirección y en la selección de activos? ¿Seguirán los nuevos responsables de Berkshire manteniendo la línea que hizo famosos a Buffett y a su socio Charlie Munger? Para ayudarnos a responder a estas preguntas, esta semana nos acompaña en Tu Dinero Nunca Duerme el Head of Sales para Iberia de Amiral Gestion, Pablo Martínez Bernal, un gran conocedor de la figura de Buffett, como inversor y como empresario: "Ha sido una gran sorpresa. Todo el mundo daba por hecho que iba a hacer como Charlie Munger, que se iba a morir siendo consejero delegado de la compañía. En esta profesión, las canas cuentan: el acumulado de muchos años de conocimientos son un ayudado. Pero quizás el mismo ha pensado que no quiere ser un problema, sobre todo si aparece un deterioro cognitivo". "El rol por el que siempre ha insistido que le gustaría ser recordado es el de profesor. Ésa es la gran contribución para la comunidad inversora. Fue profesor en la Universidad de Nebraska y ha continuado con esa labor de una u otra forma (por ejemplo, recibiendo a grupos de estudiantes de MBA). A lo largo de estos años, el acumulado implica que ha dado clases a decenas de miles de inversores", nos recuerda Martínez Bernal. ¿Y qué hay detrás de tantos años de éxito? ¿Algún secreto que nadie más conoce?: "No diría que hay un secreto. Warren Buffet, antes de leer el libro El inversor inteligente (de Benjamin Graham), ya invertía, porque empezó a los 11 años. Lo hacía usando los gráficos: es decir, la gente no lo sabe pero era trader. Es curioso cómo una persona que había empezado mal, tira todos los sistemas que le estaban dando dinero, y apuesta por el value investing. Por eso, su secreto consiste en encontrarse con un libro y darse cuenta de que era la filosofía adecuada, que no era sencillo". Eso sí, aunque siga siendo un value de pura cepa, el gran inversor sí ha evolucionado a lo largo de los años: "Buffett no ha cambiado lo fundamental, el value investing, pero sí se ha adaptado. Una de sus claves es que la filosofía ha permanecido intacta, pero el cómo invierta ha cambiado mucho. De los años 50 a 2020, las compañías han cambiado mucho. Ha evolucionado con el paso del tiempo. Munger le dijo en su momento que lo que hacía (comprar empresas de baja calidad) no era escalable. Y a partir de la inversión en See's Candies cambió la forma en la que invertía" Eso sí, nuestro invitado cree que habrá pocos cambios en la nave: "La cultura empresarial de BRK sigue intacta. Estarán Greg Able, que será el nuevo consejero delegado a partir del 1 de enero de 2026; es canadiense que era parte del círculo cercano de Buffett. El rol más importante, el de asignador del capital, lo van a heredar Todd Combs y Ted Weschler".

Founders ✓ Claim : Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- What I learned from reading The Red Bull Story by Wolfgang Fürweger and Red Bull's Billionaire Maniac by Duff McDonald. ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----(1:30) "In literal financial terms, our sports teams are not yet profitable, but in value terms, they are," he says. "The total editorial media value plus the media assets created around the teams are superior to pure advertising expenditures."(2:30) "It is a must to believe in one's product. If this were just a marketing gimmick, it would never work."(5:00) He doesn't place a premium on collecting friends or socializing: "I don't believe in 50 friends. I believe in a smaller number. Nor do I care about society events. It's the most senseless use of time. When I do go out, from time to time, it's just to convince myself again that I'm not missing a lot."(7:30) The most dangerous thing for a branded product is low interest. (Edwin Land: The test of an invention is the power of an inventor to push it through in the face of the staunch-not opposition, but indifference-in society. (Indifference is your enemy)(9:00) Nike, Adidas and Vans episodes:Shoe Dog: A Memoir by the Creator of Nike by Phil Knight. (Founders #186)Sneaker Wars: The Enemy Brothers Who Founded Adidas and Puma and The Family Feud That Forever Changed The Business of Sports by Barbara Smit. (Founders #109)Authentic: A Memoir by the Founder of Vans by Paul Van Doren. (Founders #216)(11:00) The lines between Red Bull, Red Bull athletes, and Red Bull events are blurry on purpose. To Mateschitz, it's just one big image campaign with many manifestations.(12:00) He has no plans to sell or take Red Bull public. "It's not a question of money. It's a question of fun. Can you imagine me in a shareholders' meeting?”(13:00) Red Bull's Billionaire Maniac https://www.bloomberg.com/news/articles/2011-05-19/red-bulls-billionaire-maniac(16:00) He is universally described as a person with great charisma.(16:30) The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders 292)(17:00) He has a fierce desire for privacy. He buys a society magazine to make sure he never appears in it.(22:00) There is no market for Red Bull. We will create one.(24:00) Estée Lauder: A Success Story by Estée Lauder.  (Founders #217)(30:00) the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)(31:00) Gossip and malicious rumors are worth more than the most expensive publicity campaign in the world.” — Dior by Dior: The Autobiography of Christian Dior (Founders #331)(36:00) Control your costs and maintain financial discipline even when making record profits.(38:00) Cult brands have their own laws, otherwise they would not be cultish.(38:00) Red Bull is Dietrich Mateschitz and Dietrich Mateschitz is Red Bull.(38:00) Many companies outsource their marketing and advertising activity. Red Bull consistently took the opposite route: It outsourced production and distribution and takes care of sales and advertising itself.(40:00) Charlie Munger and John Collison on Invest Like The Best #355 Rolex: Timeless Excellence on Invest Like The Best (41:00) If you are making a physical product make it look different from its competitors from the start.(43:00) Everything is marketing.(45:00) Never do anything that compromises your survival.(46:00) He keeps his empire constantly in motion(46:00) All corporate projects like Formula 1, football, Air Race, and media serve the core business: the sale of the energy drink.(47:00) This is a battle for attention.(49:00) Red Bull owns their events. They never relinquish media rights to any event. They invest in making the content and then they give their content to other media distributors for free. A very clever way to multiply their advertising and marketing spend.(52:00) The Bugatti Story by L'Ebe Bugatti. (Founders #316)The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli. (Founders #289)(54:00) Why he moved Red Bull's headquarters to a little village on a lake: The aim was to create a more pleasant working atmosphere.(54:00) On why fitness is so important to him: “Everything that gives me pleasure in life is connected with a certain physical fitness and physical well-being. I like going to the mountain, I like skiing, I like sailing, I like riding a motorbike, I like fooling around - and everything is connected with a minimum of physical agility, motor skills, dexterity, strength, stamina. In order to enjoy it outdoors, I need the indoor program.”----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested, so my poor wallet suffers.” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Founders ✓ Claim What I learned from reading The Red Bull Story by Wolfgang Fürweger and Red Bull's Billionaire Maniac by Duff McDonald. ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----(1:30) "In literal financial terms, our sports teams are not yet profitable, but in value terms, they are," he says. "The total editorial media value plus the media assets created around the teams are superior to pure advertising expenditures."(2:30) "It is a must to believe in one's product. If this were just a marketing gimmick, it would never work."(5:00) He doesn't place a premium on collecting friends or socializing: "I don't believe in 50 friends. I believe in a smaller number. Nor do I care about society events. It's the most senseless use of time. When I do go out, from time to time, it's just to convince myself again that I'm not missing a lot."(7:30) The most dangerous thing for a branded product is low interest. (Edwin Land: The test of an invention is the power of an inventor to push it through in the face of the staunch-not opposition, but indifference-in society. (Indifference is your enemy)(9:00) Nike, Adidas and Vans episodes:Shoe Dog: A Memoir by the Creator of Nike by Phil Knight. (Founders #186)Sneaker Wars: The Enemy Brothers Who Founded Adidas and Puma and The Family Feud That Forever Changed The Business of Sports by Barbara Smit. (Founders #109)Authentic: A Memoir by the Founder of Vans by Paul Van Doren. (Founders #216)(11:00) The lines between Red Bull, Red Bull athletes, and Red Bull events are blurry on purpose. To Mateschitz, it's just one big image campaign with many manifestations.(12:00) He has no plans to sell or take Red Bull public. "It's not a question of money. It's a question of fun. Can you imagine me in a shareholders' meeting?”(13:00) Red Bull's Billionaire Maniac https://www.bloomberg.com/news/articles/2011-05-19/red-bulls-billionaire-maniac(16:00) He is universally described as a person with great charisma.(16:30) The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders 292)(17:00) He has a fierce desire for privacy. He buys a society magazine to make sure he never appears in it.(22:00) There is no market for Red Bull. We will create one.(24:00) Estée Lauder: A Success Story by Estée Lauder.  (Founders #217)(30:00) the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)(31:00) Gossip and malicious rumors are worth more than the most expensive publicity campaign in the world.” — Dior by Dior: The Autobiography of Christian Dior (Founders #331)(36:00) Control your costs and maintain financial discipline even when making record profits.(38:00) Cult brands have their own laws, otherwise they would not be cultish.(38:00) Red Bull is Dietrich Mateschitz and Dietrich Mateschitz is Red Bull.(38:00) Many companies outsource their marketing and advertising activity. Red Bull consistently took the opposite route: It outsourced production and distribution and takes care of sales and advertising itself.(40:00) Charlie Munger and John Collison on Invest Like The Best #355 Rolex: Timeless Excellence on Invest Like The Best (41:00) If you are making a physical product make it look different from its competitors from the start.(43:00) Everything is marketing.(45:00) Never do anything that compromises your survival.(46:00) He keeps his empire constantly in motion(46:00) All corporate projects like Formula 1, football, Air Race, and media serve the core business: the sale of the energy drink.(47:00) This is a battle for attention.(49:00) Red Bull owns their events. They never relinquish media rights to any event. They invest in making the content and then they give their content to other media distributors for free. A very clever way to multiply their advertising and marketing spend.(52:00) The Bugatti Story by L'Ebe Bugatti. (Founders #316)The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli. (Founders #289)(54:00) Why he moved Red Bull's headquarters to a little village on a lake: The aim was to create a more pleasant working atmosphere.(54:00) On why fitness is so important to him: “Everything that gives me pleasure in life is connected with a certain physical fitness and physical well-being. I like going to the mountain, I like skiing, I like sailing, I like riding a motorbike, I like fooling around - and everything is connected with a minimum of physical agility, motor skills, dexterity, strength, stamina. In order to enjoy it outdoors, I need the indoor program.”----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested, so my poor wallet suffers.” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Founders ✓ Claim What I learned from reading The Red Bull Story by Wolfgang Fürweger and Red Bull's Billionaire Maniac by Duff McDonald. ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----(1:30) "In literal financial terms, our sports teams are not yet profitable, but in value terms, they are," he says. "The total editorial media value plus the media assets created around the teams are superior to pure advertising expenditures."(2:30) "It is a must to believe in one's product. If this were just a marketing gimmick, it would never work."(5:00) He doesn't place a premium on collecting friends or socializing: "I don't believe in 50 friends. I believe in a smaller number. Nor do I care about society events. It's the most senseless use of time. When I do go out, from time to time, it's just to convince myself again that I'm not missing a lot."(7:30) The most dangerous thing for a branded product is low interest. (Edwin Land: The test of an invention is the power of an inventor to push it through in the face of the staunch-not opposition, but indifference-in society. (Indifference is your enemy)(9:00) Nike, Adidas and Vans episodes:Shoe Dog: A Memoir by the Creator of Nike by Phil Knight. (Founders #186)Sneaker Wars: The Enemy Brothers Who Founded Adidas and Puma and The Family Feud That Forever Changed The Business of Sports by Barbara Smit. (Founders #109)Authentic: A Memoir by the Founder of Vans by Paul Van Doren. (Founders #216)(11:00) The lines between Red Bull, Red Bull athletes, and Red Bull events are blurry on purpose. To Mateschitz, it's just one big image campaign with many manifestations.(12:00) He has no plans to sell or take Red Bull public. "It's not a question of money. It's a question of fun. Can you imagine me in a shareholders' meeting?”(13:00) Red Bull's Billionaire Maniac https://www.bloomberg.com/news/articles/2011-05-19/red-bulls-billionaire-maniac(16:00) He is universally described as a person with great charisma.(16:30) The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders 292)(17:00) He has a fierce desire for privacy. He buys a society magazine to make sure he never appears in it.(22:00) There is no market for Red Bull. We will create one.(24:00) Estée Lauder: A Success Story by Estée Lauder.  (Founders #217)(30:00) the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)(31:00) Gossip and malicious rumors are worth more than the most expensive publicity campaign in the world.” — Dior by Dior: The Autobiography of Christian Dior (Founders #331)(36:00) Control your costs and maintain financial discipline even when making record profits.(38:00) Cult brands have their own laws, otherwise they would not be cultish.(38:00) Red Bull is Dietrich Mateschitz and Dietrich Mateschitz is Red Bull.(38:00) Many companies outsource their marketing and advertising activity. Red Bull consistently took the opposite route: It outsourced production and distribution and takes care of sales and advertising itself.(40:00) Charlie Munger and John Collison on Invest Like The Best #355 Rolex: Timeless Excellence on Invest Like The Best (41:00) If you are making a physical product make it look different from its competitors from the start.(43:00) Everything is marketing.(45:00) Never do anything that compromises your survival.(46:00) He keeps his empire constantly in motion(46:00) All corporate projects like Formula 1, football, Air Race, and media serve the core business: the sale of the energy drink.(47:00) This is a battle for attention.(49:00) Red Bull owns their events. They never relinquish media rights to any event. They invest in making the content and then they give their content to other media distributors for free. A very clever way to multiply their advertising and marketing spend.(52:00) The Bugatti Story by L'Ebe Bugatti. (Founders #316)The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli. (Founders #289)(54:00) Why he moved Red Bull's headquarters to a little village on a lake: The aim was to create a more pleasant working atmosphere.(54:00) On why fitness is so important to him: “Everything that gives me pleasure in life is connected with a certain physical fitness and physical well-being. I like going to the mountain, I like skiing, I like sailing, I like riding a motorbike, I like fooling around - and everything is connected with a minimum of physical agility, motor skills, dexterity, strength, stamina. In order to enjoy it outdoors, I need the indoor program.”----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Come and build in-person relationships at the Founders Only conference----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested, so my poor wallet suffers.” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

My friend Patrick O'Shaughnessy asked me to come to New York and record a conversation. Patrick had just finished listening to episode #383 "Todd Graves and his $10 Billion Chicken Finger Dream" and he believed there was an important conversation to have on focus and finding your life's work. This conversation was off-the-cuff and from the soul. I hope you find it useful. If you'd prefer to watch the episode you can do that on Spotify and YouTube. Patrick and I are doing a live show on May 27th in New York. Event details and registration here!----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ---- ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Y después de tanto tiempo llegó el día. Warren Buffet anunció el sábado que tras 60 años, deja el cargo de CEO de la compañía. El Oráculo de Omaha aprovechó la cita anual con los accionistas para anunciar el esperado adiós. Aunque señaló que no se va a desentender del todo de Berkshire Hathaway, ya que como indicó “todavía seguiré por aquí y posiblemente seré útil en algunos casos”. Su sustituto ya está claro o por lo menos el más deseado por Buffet. Greg Abel es el caballo ganador del inversor multimillonario. Y es que era el sucesor designado desde 2021, pero el anuncio le sorprendió igual que al resto del mercado. En sus manos queda el futuro de una empresa que Buffet ha convertido en uno de los gigantes de la inversión. Para Munesh Melwani, Socio Fundador de Cross Capital, una de las claves de la gran dimensión que obtuvo Buffet con Berkshire es la asociación que ha tenido en los últimos cincuenta años con Charlie Munger, vicepresidente de la compañía muchos años y él que es considerado como el principal socio del Oráculo de Omaha. En cambio para Luis García, gestor de MAPFRE AM, lo que explica el éxito del multimillonario es la transición que hizo del Value. Aunque el sábado no fue sólo el día de la sorpresiva despedida de Buffet. Berkshire Hathaway presentó resultados, unos resultados con unos beneficios decepcionantes. Estos se fueron hasta los 4600 millones de dólares, un 64% menos que el año pasado. Y es que la compañía sigue reduciendo sus ventas netas de acciones fueron de 1500 millones de dólares. ¿Cómo están ahora estructuradas sus inversiones? La empresa tenía una liquidez de 350.000 millones de dólares, de los cuales 300.000 han ido para bonos de tesoro. Aunque Buffet reconoció que la compañía estuvo a punto de invertir 10.000 millones en los últimos días. Sabemos los resultados y quién lo sustituye pero ¿Quién es Greg Abel? Nacido en Canadá, en 1992 empezó su andadura en PricewaterhouseCoopers. Después pasó a Mid American Energy, que fue al tiempo adquirida por Berkshire y que supuso la llegada a la empresa. Uno de los puntos más chocantes es que a Warren Buffet no le convencía Greg Abel en un principio. David Sokol, CEO de Mid American, convenció tanto a Buffet como a Munger de la valía de Abel. El Oráculo de Omaha es conocido por aprovechar los momentos de crisis para conseguir grandes inversiones. Eso es lo que hizo también Abel con la crisis de 2008. Gracias a la cancelación de Constellation Energy, que en vez de con Berkshire se fue con EDP, Mid American consiguió 1.000 millones de dólares de indemnización. Así comenzaron las andaduras de Abel hasta convertirse en lo que es hoy: la inversión más valiosa de Warren Buffet.

Letzte Woche hat die zweite Hauptversammlung von Berkshire Hathaway ohne Charlie Munger stattgefunden. Doch was passiert mit der Aktie, wenn auch Warren Buffett einmal nicht mehr da ist? Genau darüber spreche ich mit dir im heutigen Podcast. Vereinbare jetzt dein kostenfreies Strategiegespräch: https://jensrabe.de/Q2Termin25 Aktien kann Jeder - jetzt testen: https://jensrabe.de/YTAKJ Optionen kann Jeder - jetzt testen: https://jensrabe.de/YTOKJ ALLE Bücher von Jens Rabe: https://jensrabe.de/buecherYT Nur für kurze Zeit. Solange der Vorrat reicht. Schau auf meinem Social Media-Kanälen vorbei: Instagram - https://www.instagram.com/jensrabe_official X - https://twitter.com/jensrabe_ Facebook - https://www.facebook.com/rabeacademy TikTok - https://www.tiktok.com/@jensrabeacademy Börsen-News https://jensrabe.de/Q2NewsYT25

In questo episodio, Salvatore Gaziano, responsabile delle strategie d'investimento di SoldiExpert SCF, racconta la storia di Warren Buffett alla luce del clamoroso annuncio del suo ritiro a 94 anni, dopo oltre sei decenni alla guida di Berkshire Hathaway.Un viaggio affascinante e intenso nella carriera del più iconico investitore del nostro tempo, analizzato con rigore e spirito critico, senza agiografie. La narrazione attraversa le tappe fondamentali della sua vita professionale: dagli inizi difficili all'incredibile ascesa, dagli errori clamorosi alle intuizioni geniali, fino alla scelta del suo successore e alla delicata fase di transizione che si apre oggi per il colosso americano.Senza tralasciare gli aspetti meno noti, come il ruolo decisivo di Charlie Munger, il peso delle critiche alla politica economica americana, la gestione della gigantesca liquidità aziendale e le scelte che ne determineranno il futuro.Nel corso della puntata, si apre anche una riflessione più ampia sul significato del valore nel tempo, sulla capacità di cambiare idea rimanendo fedeli ai propri principi e sull'importanza dell'integrità in un settore, quello finanziario, spesso minato da frodi e disinformazione. A questo proposito, l'episodio si apre con un messaggio importante: un avviso agli ascoltatori su una truffa in corso che coinvolge falsi gruppi social a nome SoldiExpert. Un racconto coinvolgente e documentato che offre spunti preziosi per chi vuole investire con consapevolezza, ma anche per chi cerca ispirazione dalle storie di chi ha lasciato un segno profondo nella storia dell'economia e della finanza.

Warren Buffett, seguramente el inversor más famoso del mundo, anunció el sábado pasado que se retira como presidente de Berkshire Hathaway. Deja en el cargo a Greg Abel, que irá gradualmente haciéndose cargo de la compañía hasta finales de este año. Buffett, que tiene 94 años y es la sexta persona más rica del mundo según Forbes, es uno de los inversores más influyentes de la historia muy conocido por su filosofía de inversión en valor. Nació en Omaha, una pequeña ciudad de Nebraska, y desde niño mostró gran habilidad para las finanzas. A los siete años, inspirado por un libro que acababa de leer, comenzó a vender chicles, revistas y periódicos, y a los 14 compró una granja con sus ahorros. A los 11 realizó su primera compra de acciones siguiendo el ejemplo de su padre, que era corredor de Bolsa y congresista. Aunque no tenía demasiado interés en ir a la universidad, se graduó en la universidad de su Estado natal y luego fue a Columbia, donde se convirtió en discípulo de Benjamin Graham, autor de un libro que le marcaría mucho: “El inversor inteligente”. Este libro y las enseñanzas personales de Graham, padre de la inversión en valor, dieron forma a su manera de pensar e invertir. La inversión en valor consiste en comprar acciones por debajo de su valor priorizando fundamentos empresariales y añadiendo un margen de seguridad, principios que Buffett adoptó con su famosa regla número 1: nunca pierdas dinero. Tras trabajar en la agencia de su padre y en la de Graham, fundó Buffett Partnership en 1956 con 100.000 dólares que le proporcionaron familiares y amigos. Empezó a aplicar la llamada estrategia de “colillas de cigarrillo”, es decir, empresas muy baratas pero que estaban infravaloradas. Consiguió rentabilidades excepcionales y se convirtió en millonario con sólo 32 años. Fue en esa época cuando comenzó a comprar acciones de Berkshire Hathaway, una empresa textil en pleno declive. En 1965 tomó el control, una decisión que luego calificó como su peor error. Pero sobre ese error inicial construyó un acierto. Transformó Berkshire en un inmejorable vehículo de inversión, abandonó la industria textil y se concentró en los seguros. El flotante de las primas de seguros, un capital a muy bajo coste, impulsó el crecimiento de Berkshire en los años siguientes. Influenciado por su socio Charlie Munger, Buffett fue afinando su estrategia. Compró empresas enteras y entró en el accionariado de compañías de primera línea con ventajas competitivas como Coca-Cola, American Express, Apple y la principal empresa ferroviaria del país, la Burlington Northern Santa Fe. Admitió, eso sí, algunos errores y mostró gran humildad reconociendo que había perdido la oportunidad de invertir en tecnológicas como Google o Amazon. Como filántropo, fundó The Giving Pledge en 2010, comprometiéndose a donar el 99% de su fortuna, principalmente a la Fundación de Bill y Melinda Gates. Buffett, famoso por, a pesar de su inmensa fortuna, llevar una vida modesta en Omaha, deja un legado como maestro de la inversión en valor y una serie de principios que inspiran a inversores de todo el mundo. Abel, su sucesor, deberá preservar la cultura de Berkshire, eso sí, mientras viva, Buffett seguirá al pie del cañón. En La ContraRéplica: 0:00 Introducción 3:44 Buffett, el adiós de un maestro 34:07 Emigración cualificada, inmigración sin cualificar 41:30 Silvia Orriols y Alianza Catalana · Canal de Telegram: https://t.me/lacontracronica · “Contra la Revolución Francesa”… https://amzn.to/4aF0LpZ · “Hispanos. Breve historia de los pueblos de habla hispana”… https://amzn.to/428js1G · “La ContraHistoria de España. Auge, caída y vuelta a empezar de un país en 28 episodios”… https://amzn.to/3kXcZ6i · “Lutero, Calvino y Trento, la Reforma que no fue”… https://amzn.to/3shKOlK · “La ContraHistoria del comunismo”… https://amzn.to/39QP2KE Apoya La Contra en: · Patreon... https://www.patreon.com/diazvillanueva · iVoox... https://www.ivoox.com/podcast-contracronica_sq_f1267769_1.html · Paypal... https://www.paypal.me/diazvillanueva Sígueme en: · Web... https://diazvillanueva.com · Twitter... https://twitter.com/diazvillanueva · Facebook... https://www.facebook.com/fernandodiazvillanueva1/ · Instagram... https://www.instagram.com/diazvillanueva · Linkedin… https://www.linkedin.com/in/fernando-d%C3%ADaz-villanueva-7303865/ · Flickr... https://www.flickr.com/photos/147276463@N05/?/ · Pinterest... https://www.pinterest.com/fernandodiazvillanueva Encuentra mis libros en: · Amazon... https://www.amazon.es/Fernando-Diaz-Villanueva/e/B00J2ASBXM #FernandoDiazVillanueva #warrenbuffett #berkshirehathaway Escucha el episodio completo en la app de iVoox, o descubre todo el catálogo de iVoox Originals

“I'm an accidental guru.” He was irreverent, he was focused, he was one of the world's most successful investors, and he was one of a kind. Billionaire investor Charlie Munger, the longtime right-hand man and close friend of Berkshire Hathaway CEO Warren Buffett, died a few weeks shy of what would have been his 100th birthday. Becky Quick, Squawk Box co-host, interviewed Munger two weeks before his death in his home in Los Angeles. In the first part of this special conversation, Charlie Munger reflects on his century of life and the perspective and knowledge he gained in his final years. For more, revisit our 2021 Squawk Pod series, Warren Buffett and Charlie Munger: A Wealth of Wisdom. Squawk Pod is produced by Katie Kramer, Cameron Costa, Karoline Rouhotas and Zach Vallese.  CNBC's Managing Editor is Lacy O'Toole. John Lazration edited this podcast series.

“I'm an accidental guru.” He was irreverent, he was focused, he was one of the world's most successful investors, and he was one of a kind. Billionaire investor Charlie Munger, the longtime right-hand man and close friend of Berkshire Hathaway CEO Warren Buffett, died a few weeks shy of what would have been his 100th birthday. Becky Quick, Squawk Box co-host, interviewed Munger two weeks before his death in his home in Los Angeles. In Part 2 of this special conversation, Charlie Munger reflects on the childhood traumas that shaped him and the investing wins and losses that made his career. For more, revisit our 2021 Squawk Pod series, Warren Buffett and Charlie Munger: A Wealth of Wisdom. Squawk Pod is produced by Katie Kramer, Cameron Costa, Karoline Rouhotas and Zach Vallese.  CNBC's Managing Editor is Lacy O'Toole. John Lazration edited this podcast series.

In this episode, Dustin Burleson sits down with the powerhouse leadership team behind Rock Dental Brands to answer one of the most pressing questions in modern dentistry and orthodontics: How do I avoid choosing the wrong DSO?You'll hear directly from CEO Kristi Casey, Chief Development Officer Spencer Lunghino, and Co-Founder Dr. Mark Dake as they share a transparent look into the origins, philosophy, and strategic direction of Rock Dental Brands. Together, they bust myths around private equity, clinical autonomy, and growth timelines—and reveal what doctors should really be asking before joining a DSO.If you're a dentist, orthodontist, or specialist considering your next move, this episode is a must-listen. What You'll Learn:The real story behind private equity in dentistry—where the money comes from and how it worksWhy not all DSOs (or equity structures) are created equalHow Rock Dental Brands evolved from a doctor-led support model to a nationally respected DSOThe biggest myths around clinical autonomy, ownership, and growthWhy Rock's equity model is designed to treat doctors fairly—and how that differs from joint venturesHow to reverse-engineer a smart partnership decision using Charlie Munger's “invert and avoid” philosophyWhat questions to ask during DSO due diligence (and how to avoid future regret) Key Quotes:“We were built to be proud of the work we're doing 50 years from now." —Dr. Mark Dake“You're not giving up control of your practice. You're gaining part of 110 practices.” —Kristi Casey Connect with Our Guests:Spencer Lunghino – spencer.lunghino@rockdentalbrands.comrockdentalbrands.com Resources Mentioned:GreyFinch Practice Management SoftwareDentiCon by Planet DDSVistria Group – Private equity partner of Rock Dental Brands Subscribe & Review:If you enjoyed this episode, please leave a review and subscribe to The Burleson Box on Apple Podcasts, Spotify, or wherever you listen. Your support helps us bring powerful conversations like this to more listeners in healthcare leadership. ***The Burleson Box is brought to you by Stax Payments:Save Big on Transaction Fees: Boost Your Bottom Line with Stax Payments.Did you know that your practice can start saving thousands of dollars on your monthly processing costs with our preferred payments partner, Stax? Simplify your practice operations and provide a quality patient experience. Healthcare practices like yours need a way to accept payments simply and securely. That's where Stax comes in.Stax helps you manage your entire payments experience from within one platform. You can safely accept touch-free payments in-person, online, or over the phone, securely store and manage patient information with layered security and Level 1 PCI compliance.
Take advantage of a simpler, more transparent way to process your payments with competitive flat-rate pricing, provided exclusively through Stax. No additional fees or contracts required!Power your practice and get paid faster with simple, safe and secure payment solutions. Have questions? Schedule time to speak with a dedicated payment consultant to learn more.Click Below to Lear More Today:StaxPayments.com/burleson-seminars*** Go Premium: Members get early access, ad-free episodes, hand-edited transcripts, exclusive study guides, special edition books each quarter, powerpoint and keynote presentations and two tickets to Dustin Burleson's Annual Leadership Retreat.http://www.theburlesonbox.com/sign-up Stay Up to Date: Sign up for The Burleson Report, our weekly newsletter that is delivered each Sunday with timeless insight for life and private practice. Sign up here:http://www.theburlesonreport.com Follow Dustin Burleson, DDS, MBA at:http://www.burlesonseminars.com

Nach dem Zoll-Zirkus von Donald Trump hat es die Märkte ordentlich durchgeschüttelt. Mit dem Aussetzen der reziproken Zölle hoffen viele Investoren, dass der US-Präsident wieder zum Deal-Maker wird und die Maximal-Forderungen an Zöllen nur für bessere Geschäfte gedacht waren. Ist nach der Korrektur der Boden damit also erreicht? „Nein, das wird es vermutlich noch nicht gewesen sein“, sagt Heiko Böhmer, Kapitalmarktstratege bei Shareholder Value Management. Der Sprengstoff aus den politischen Unsicherheiten ist noch viel zu groß und die Korrektur im Vergleich zu dem langen Aufschwung zuvor noch recht moderat. Dennoch sind die Value-Investoren derzeit als Käufer aktiv. Nach dem in den vergangenen Monaten bereits der US-Aktienanteil in den großen Fonds des Hauses wegen der hohen Bewertungen deutlich runter gefahren wurden, finden sich in Europa nach wie vor viele attraktive Unternehmen. „Wir finden in Europa derzeit einige spannende Unternehmen, bei denen erste Positionen aufgebaut werden“, verrät Böhmer. Ratsam ist es allerdings, sich eher auf Sektoren und Unternehmen zu fokussieren die überhaupt nicht oder nur eher weniger von potenziellen Zöllen aus den USA betroffen sind. Auch Unternehmen aus zyklischen Branchen drängen sich derzeit eher nicht auf, nach dem die Rezessions-Gefahr in den USA deutlich zugenommen haben. Außerdem erklärt Böhmer , was sich Anleger in hektischen Börsenzeiten von Legenden wie Charlie Munger oder Howard Marks abschauen können.

Wisdom from the Berkshire Chronicles: Insights from Buffett and Munger Experts [See text version on my Substack]8 previous Talking Billions conversations recorded over three years in one 15-minute episode!This episode features a collection of profound insights and key ideas shared by experts on Berkshire Hathaway, Warren Buffett, and Charlie Munger. It includes historical perspectives on the company, pivotal investment philosophies, unique management practices, and significant business decisions. Highlighting stories from past Berkshire meetings, the importance of capital allocation, and lessons learned from Buffett's mistakes, this episode serves as a compact guide to understanding the principles behind one of the world's most successful businesses.What you'll find inside:00:00 Introduction: Wisdom from the Berkshire Chronicles01:12 The Pre-Buffett Era: From Whaling to Textiles02:23 Memories of Early Berkshire Meetings04:03 Buffett's Accidental Empire05:15 The Importance of Capital Allocation and Management Quality06:08 The Evolution of Value Investing06:59 The Insurance Float: Berkshire's Secret Weapon08:20 Concentration: Bet Big When You're Right09:44 The Portfolio Approach to Managing Businesses12:18 Learning from Mistakes and Taking the Long View13:47 Conclusion: The Compounding of WisdomPodcast Program – Disclosure StatementBlue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm's employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

On this week's Stansberry Investor Hour, Dan and Corey welcome Alex Morris to the show. Alex is the founder of TSOH (The Science of Hitting) Investment Research and an author. TSOH, which boasts more than 20,000 subscribers, aims to generate attractive long-term returns while providing complete transparency on the research process, portfolio decision-making, and returns. Alex kicks off the show by discussing the inspiration behind his new book, Buffett and Munger Unscripted: Three Decades of Investment and Business Insights From the Berkshire Hathaway Shareholder Meetings. He goes in depth on what he learned from Warren Buffett and Charlie Munger in the process of crafting his book, including understanding incentives, management turnover, and which macroeconomic factors are important. (1:46) Next, Alex talks about the "pointed" questions Buffett and Munger got during the dot-com era from shareholders who doubted their abilities. Then he breaks down his own investing style, how that style has evolved over the years, and how he got interested in investing in the first place. This leads to a discussion about struggling retailer Five Below (which Alex is keeping an eye on to see if it can turn its business around) and Dollar Tree (which Alex owns and still likes today). (19:53) Finally, Alex delves further into the retail space. He discusses Costco Wholesale versus Walmart, the importance of retailers understanding their core customer base, why Dollar Tree is misunderstood, geographic retail strategies, President Donald Trump's tariffs, and a U.K.-based mixers company he finds attractive. (40:24)

On this week's Stansberry Investor Hour, Dan and Corey welcome Alex Morris to the show. Alex is the founder of TSOH (The Science of Hitting) Investment Research and an author. TSOH, which boasts more than 20,000 subscribers, aims to generate attractive long-term returns while providing complete transparency on the research process, portfolio decision-making, and returns. Alex kicks off the show by discussing the inspiration behind his new book, Buffett and Munger Unscripted: Three Decades of Investment and Business Insights From the Berkshire Hathaway Shareholder Meetings. He goes in depth on what he learned from Warren Buffett and Charlie Munger in the process of crafting his book, including understanding incentives, management turnover, and which macroeconomic factors are important. (1:46) Next, Alex talks about the "pointed" questions Buffett and Munger got during the dot-com era from shareholders who doubted their abilities. Then he breaks down his own investing style, how that style has evolved over the years, and how he got interested in investing in the first place. This leads to a discussion about struggling retailer Five Below (which Alex is keeping an eye on to see if it can turn its business around) and Dollar Tree (which Alex owns and still likes today). (19:53) Finally, Alex delves further into the retail space. He discusses Costco Wholesale versus Walmart, the importance of retailers understanding their core customer base, why Dollar Tree is misunderstood, geographic retail strategies, President Donald Trump's tariffs, and a U.K.-based mixers company he finds attractive. (40:24)

If Warren Buffett is the king of capital allocation—Henry Singleton is the ghost. Singleton built one of the most successful conglomerates in American history, transforming business while remaining virtually unknown. While Wall Street chased fads, Singleton, who could play chess blindfolded, quietly turned industrial conglomerate Teledyne into a business juggernaut with 20.4% annual returns over nearly three decades—outperforming Buffett, outmaneuvering rivals, and outlasting the hype. Dive into the mind of a man who Charlie Munger said had "the best operating and capital deployment record in American business—bar none." This is a masterclass in disciplined capital allocation and long-term thinking on the most underrated business genius of the 20th century.  If you're building a business, allocating capital, or simply trying to think more clearly in a noisy world, you cannot afford to miss this one.  (03:16) Prologue (05:59) PART 1: THE MAKING OF A MAVERICK (07:48) After MIT (10:24) Founding of Teledyne (14:04) The Future is Semiconductors (17:18) What to Acquire? (19:12) Integrating into the Teledyne System (21:49) Vasco Metals and George Roberts (23:40) PART 2: MASTER CAPITAL ALLOCATOR (28:10) Entering Insurance (29:44) The Great Buyback Revolution (32:46) Teledyne Operating Systems (34:56) Thinking Local (37:41) Building Knowledge (39:59) PART 3: PEAK PERFORMANCE (42:51) Planning for Retirement (44:09) Passing the Torch (46:45) End of an Era: Singleton Retires (47:41) Teledyne After Singleton (48:46) Singleton's Legacy (51:05) SHANE'S REFLECTIONS This episode is for informational purposes only and most of the research came from reading Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It, with an Introduction to Teledyne Technologies by Dr. George A. Roberts with Robert J McVicker and The Outsiders by William N. Thorndike, Jr. Additional source: 1979 Interview with Forbes Check out highlights from these books in our repository, and find key lessons from Singleton here —https://fs.blog/knowledge-project-podcast/outliers-henry-singleton/ Upgrade — If you want to hear my thoughts and reflections at the end of all episodes, join our membership: ⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠ and get your own private feed. Newsletter — The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it's completely free. Learn more and sign up at fs.blog/newsletter Learn more about your ad choices. Visit megaphone.fm/adchoices

Akio Morita was a visionary entrepreneur and co-founder of Sony. Born as the first son and fifteenth-generation heir to a 300-year-old sake-brewing family in Japan, Akio eschewed the traditional path to forge his own legacy in electronics.In post-war Japan, Akio joined forces with Masaru Ibuka to found Sony. They started in a burned-out department store with limited resources—to build their first product they had to buy supplies on the black market. Akio was determined to change the global perception of Japanese goods as poor quality. From day one he set out to build high-quality, differentiated products, targeted at affluent markets. Akio believed in long-term vision over short-term profits, product innovation without market research, and brand building over immediate profits. Against all opposition, including inside of his own company, Akio invented one of the most successful consumer products of all time: The Walkman. It sold over 400 million units and inspired countless other entrepreneurs like Steve Jobs, Jeff Bezos, James Dyson, and Phil Knight. This episode is what I learned from rereading Akio's classic 1986 autobiography Made In Japan. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

In this episode, we break down why every investor—no matter their experience level—should have an Investment Policy Statement . We walk through the key components you need to include, from setting clear investment goals and understanding your risk tolerance to creating a contribution plan and rebalancing rules that work for you. Braden also shares a personal story inspired by Charlie Munger’s wisdom on spending money meaningfully and learning when to say yes to experiences. Plus, we touch on why fewer companies are going public and how cash-secured puts can be a useful strategy when markets are volatile. Check out our portfolio by going to Jointci.com Our Website Canadian Investor Podcast Network Twitter: @cdn_investing Simon’s twitter: @Fiat_Iceberg Braden’s twitter: @BradoCapital Dan’s Twitter: @stocktrades_ca Want to learn more about Real Estate Investing? Check out the Canadian Real Estate Investor Podcast! Apple Podcast - The Canadian Real Estate Investor Spotify - The Canadian Real Estate Investor Web player - The Canadian Real Estate Investor Asset Allocation ETFs | BMO Global Asset Management Sign up for Finchat.io for free to get easy access to global stock coverage and powerful AI investing tools. Register for EQ Bank, the seamless digital banking experience with better rates and no nonsense.See omnystudio.com/listener for privacy information.

Li Lu is the only investment manager Charlie Munger gave outside capital to. He has invested in multiple 100 baggers in China and introduced BYD to Warren Buffett. On this episode, we discuss: (00:00) Introduction to Li Lu: The Mysterious Investor(04:45) Li Lu's Fascinating Background and Early Life(09:35) The Formation of Himalaya Capital and Investment Philosophy(14:26) Investment Strategies: Balancing Patience and Activity(16:59) Key Investment Principles from Li Lu(22:50) Case Study: Timberland Investment(29:52) Case Study: BYD - A Defining Investment(33:40) Investing Insights: BYD vs Timberland(35:41) The Rise of Mu Tai: A Cultural Staple(42:39) Macro Perspectives: Li Lu on China(48:39) Lessons from Li Lu: Value Investing Principles*****************************************************JOIN OUR NEWSLETTER AND FREE CHAT COMMUNITY: https://chitchatstocks.substack.com/ *********************************************************************Chit Chat Stocks is presented by Interactive Brokers. Get professional pricing, global access, and premier technology with the best brokerage for investors today: https://www.interactivebrokers.com/ Interactive Brokers is a member of SIPC. *********************************************************************FinChat.io is the complete stock research platform for fundamental investors.With its beautiful design and institutional-quality data, FinChat is incredibly powerful and easy to use.Use our LINK and get 15% off any premium plan: ⁠finchat.io/chitchat *********************************************************************Bluechippers Club is a tight-knit community of stock focused investors. Members share ideas, participate in weekly calls, and compete in portfolio competitions.To join, go to ⁠Blue Chippers and apply! Link: ⁠https://bluechippersclub.com/*********************************************************************Disclosure: Chit Chat Stocks hosts and guests are not financial advisors, and nothing they say on this show is formal advice or a recommendation.

This week on The Audit Podcast, we're joined by Mark Freeman, Head of Internal Audit at Vermeer Corporation. In this episode, Mark shares insights from a recent CAE roundtable, where recruitment, audit committee metrics, and Copilot use cases topped the agenda. He also walks us through how he rebuilt internal audit's reputation at Vermeer after stepping into a challenging environment. Plus, he gives us a look at the actual metrics he shares with his audit committee—offering a practical starting point for your own reporting conversations. Be sure to connect with Mark on LinkedIn.   Also, be sure to follow us on our new social media accounts on LinkedIn, Instagram, and TikTok.   Also be sure to sign up for The Audit Podcast newsletter and to check the full video interview on The Audit Podcast YouTube channel.   Timecodes:   3:03 - Timeless Advice from Charlie Munger 7:15 - Rethinking Recruitment and Talent in Audit 12:10 - Unlocking the Full Value of Internal Audit 15:20 - Reframing the Image of Internal Audit 21:50 - Why Metrics Matter 27:58 - Must-Reads for Audit Professionals 31:30 - Implementing Copilot: AI in Action 39:15 - Final Thoughts   *   This podcast is brought to you by Greenskies Analytics, the services firm that helps auditors leap-frog up the analytics maturity model. Their approach for launching audit analytics programs with a series of proven quick-win analytics will guarantee the results worthy of the analytics hype.  Whether your audit team needs a data strategy, methodology, governance, literacy, or anything else related to audit and analytics, schedule time with Greenskies Analytics.

I'm super excited to share our latest episode with you. This time, I had the pleasure of chatting with David Sawyer, the co-founder and CEO of Unlimited AI. David's journey from Texas to the private investment sector is nothing short of inspiring, and I can't wait for you to hear his story.Here are some of the key takeaways and intriguing points from our conversation:

Markets are twitchy, tariffs are flying, and the Economic Policy Uncertainty Index just hit 900. So... what now? This week, Skippy and Doogles channel Charlie Munger, debate whether it's time to dump Chinese stocks, and wrestle with how (and when) to deploy cash in a world that makes zero sense. Plus: Howard Marks drops another banger memo, the NASDAQ flirts with 24/7 trading, and we break down the real deal with ESOPs and employee ownership.Join the Skippy and Doogles fan club. You can also get more details about the show at skippydoogles.com, show notes on our Substack, and send comments or questions to skippydoogles@gmail.com.

"In my whole life, I have known no wise people over a broad subject matter area who didn't read all the time. None. Zero. You'd be amazed at how much Warren reads; at how much I read. My children laugh at me. They think I'm a book with a couple of legs sticking out." - Charlie MungerThe Investor Series rolls on today, but with a bit of a different look and feel.  Our good friend and usual co-host Aleck Arena will not be joining in on this conversation.  Instead, our very own Jay Doran will be flying solo and discussing one of the great great minds of the modern investing world, Mr. Charles T. Munger.  When it comes to investing, there are few voices that ring out louder and clearer and have had more of an impact in the space than Charlie Munger.  You don't come to be Warren Buffet's right hand for decades without knowing a thing or two.  Today, Jay is discussing some of the finer points of Mr. Munger's work and why he will always be remembered as a titan in his industry.  We hope you enjoy this episode of The Culture Matters Podcast.

Just days after the White House shut down rumors of a potential pause on tariffs, the world reacts to a swift reversal. National Economic Council Director Kevin Hassett discusses the market's reaction to President Trump declaring a 90-day pause on tariffs and how a spike in the bond market possibly changed negotiations. Plus, Amazon CEO Andy Jassy sits down in an exclusive interview at the company's headquarters, saying he believes sellers will pass increased tariffs costs on to consumers.  Meanwhile, Becky Quick revisited her 2019 conversation with Warren Buffett, Charlie Munger and Bill Gates discussing the then-latest developments in the U.S.-China trade talks and what they thought would benefit all parties involved. Watch the video from that discussion here. Kevin Hassett     25:37Andy Jassy          47:07 In this episode: Andy Jassy, @ajassyBecky Quick, @BeckyQuickJoe Kernen, @JoeSquawkAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

Charlie Munger, the late sage of value investing and Warren Buffett's right-hand man, once said there are only three ways a smart man can go broke: “liquor, ladies, and leverage.” Now, of the three, leverage is the sneakiest. It shows up dressed like opportunity, whispers promises of scale and speed, and before you know it—you're in a capital call or margin call. But let's be clear: leverage isn't the enemy. In fact, if your goal is to become truly wealthy—if you want to build lasting, generational wealth—you're going to need it. Unless you're one of the lucky few who can throw a football 70 yards or sell out Madison Square Garden, leverage is your ticket to the big leagues. At its core, leverage is simply using other people's money—or time—to amplify your results. It's a mortgage on a cash-flowing property, a business line of credit, or a carefully constructed insurance strategy. When used properly, it's the financial version of driving a car instead of walking. It gets you there faster. Leverage magnifies everything—the gains, yes, but also the losses. It's the volume knob on your financial life. And in the last few years, when interest rates skyrocketed at the fastest pace in modern history, that volume went from background music to full-blown chaos. And here's the thing: it wasn't just the rookies who got caught. This cycle humbled everyone—developers with decades of experience, funds with billions under management, and institutional players with Ivy League MBAs. When the tide went out, even the smart money found itself swimming without trunks. Some were caught overleveraged. Others had short-term debt in long-term projects. And a whole lot of people made the fatal assumption that the low-rate environment would last forever. It didn't. But…just like the last financial crisis, this kind of wreckage creates extraordinary opportunity—if you know how to navigate it. Because as painful as the last couple years have been for real estate investors, they've also opened the door to a once-in-a-decade setup. Distressed assets. Motivated sellers. And amidst all the carnage, leverage—used carefully, conservatively, and respectfully—can once again become the powerful tool it was meant to be. This is not a time for fear. It's a time for strategy. For discipline. For underwriting with humility and deploying capital. This week's episode of Wealth Formula Podcast is a postmortem on what went wrong in real estate over the past few years as interest rates surged and markets shifted. We break down the hard lessons learned—even by seasoned pros—and explore why today's environment is starting to resemble the rare window of opportunity we saw in 2010–2011, in the wake of the mortgage meltdown.

We all love a good to-do list—it keeps us productive and on track. But what about the things we shouldn't be doing? Today, Dr. Killeen introduces the concept of an Anti-To-Do List—identifying the distractions, bad habits, and energy drains that hold us back. Inspired by Charlie Munger's wisdom, this strategy helps you avoid pitfalls so you can focus on what truly matters. Tune in to learn how small, intentional changes can lead to big progress in your practice and life.

This podcast episode explores leadership principles through the lens of inversion—focusing on what not to do to become a better leader. Bradley Hartmann shares insights from CNS 5632:Leadership Principles in Construction within the University of Oklahoma's MBA program for construction professionals, which was heavily influenced by Charlie Munger's mental models. The episode provides a comprehensive list of leadership "don'ts" developed collaboratively with students, covering critical areas like emotional control, communication, delegation, and team management. Listeners will gain practical, actionable advice on avoiding common leadership pitfalls, such as micromanaging, stealing credit, ignoring team suggestions, and trying to be the smartest person in the room. This episode offers a refreshing, pragmatic approach to leadership development that goes beyond traditional motivational advice, as you'll receive a tangible framework for leadership improvement that emphasizes simplicity, self-awareness, and continuous learning. By understanding what to avoid, leaders can more effectively guide their teams, build trust, and create a positive organizational culture.    This episode is brought to you by The Simple Sales Pipeline® —the most efficient way to organize and value any construction sales rep's roster of customers and prospects in under 30 minutes once every 30 days. *** If you enjoyed this podcast, please leave a review on Apple Podcasts. Your feedback will help us on our mission to bring the construction community closer together. If you have suggestions for improvements, topics you'd like the show to explore, or have recommendations for future guests, do not hesitate to contact us directly at info@bradleyhartmannandco.com.  

Most people see investing as just stocks and numbers, but the world's greatest investors approach it differently. Their biggest lessons go beyond money—they're about how to think, make smarter decisions, and live a richer life. William Green, bestselling author of Richer, Wiser, Happier, has interviewed over 50 legendary investors, including Charlie Munger, Howard Marks, and Sir John Templeton. Along the way, he's uncovered powerful insights that apply not just to investing but to leadership, business, and personal growth. In this episode, William shares what leaders can learn from investors about making better decisions, avoiding costly mistakes through inversion thinking, and applying the power of compounding to knowledge, relationships, and habits. He reveals why mastering emotions matters more than mastering money, why intuition is just as critical as data, and how knowing your circle of competence helps you focus on playing games you're equipped to win and knowing your limits. We also explore how ethical leadership isn't just the right thing to do—it's a long-term advantage, and long-term success is often tied to integrity, self-awareness, and learning from both wins and failures.   ________________ Start your day with the world's top leaders by joining thousands of others at Great Leadership on Substack. Just enter your email: ⁠⁠https://greatleadership.substack.com/

I found two great posts that share a very important message for all of us, especially in today's age (and really any point in time). First I found this from Mindful Maven (@mindfulmaven_) where this quote was shared: “Those who keep learning will keep rising in life.” - Charlie Munger.   Being a lifelong learner is something that always has more positive benefits than if you think you know it all.  The second post I connected with was from Maxpein (@maximumpain333) where this powerhouse statement was shared: “The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn.” - Alvin Toffler.  Powerful thoughts for me to keep at looking to get better, each and every day!  Those that stay in old beliefs, old ways of thinking, old bad habits, old ways of treating others, refusing to be a bit more open-minded, etc., those are the people that will struggle in so many multiple ways as time goes by. I, for one, do not want to be one of those people. Do you?  Thanks for listening.  Please take a few moments to subscribe & share this with someone, also leave a 5 Star rating on Apple Podcasts and ITunes or other services where you find this show.  Find me on Facebook:  https://www.facebook.com/coachtoexpectsuccess/   on Twitter / “X”:  @coachtosuccess   and on Instagram at:  @coachjohndaly  - My YouTube Channel is at: Coach John Daly.   Email me at: CoachJohnDalyPodcast@gmail.com     You can also head on over to https://www.coachtoexpectsuccess.com/ and get in touch with me there on my homepage along with checking out my Top Book list too.  Other things there on my site are being worked on too.  Please let me know that you are reaching out to me from my podcast.

Founders ✓ Claim : Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- Todd Graves is one of my favorite living entrepreneurs. He's a great example of Charlie Munger's maxim: Find a simple idea and take it seriously. Todd wanted to create a quick service restaurant that only focused on quality chicken finger meals and nothing else. Everyone told him that couldn't possibly work. The college paper that described the idea that would turn into Raising Canes got the lowest grade in the class. Banks wouldn't loan him any money —but nothing could stop Todd from living out his "chicken finger dream." He worked 95 hour weeks as a boilermaker, risked his life on a commercial fishing boat off the coast of Alaska, and scrounged up startup money from his bookie and a guy named Wild Bill. Todd made every mistake in the book, over leveraged himself, almost lost everything and yet he refused to give up or sell out. Today he has over 800 locations, 50,000 employees, and owns 90% of a business that's worth at least $10 billion. Todd's maxim is "Do one thing and do it better than anyone else." Sources: Trading Secrets: Raising Cane's founder Todd Graves reveals his path to building the wildly popular restaurantTheo Von: Raising Cane's Founder Todd Graves----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Founders ✓ Claim Key Takeaways  “Do one thing and do it better than anyone else.” – Todd Graves A winning idea can work for decades: Don't think that you need to have a new idea every six months to be successfulCombine extreme patience with an extreme intolerance for slowness If you love what you are doing, then you will never stop doing it – and therefore, you will never interrupt the compounding effects of your efforts Make mistakes fast, but fix them even faster Make your people feel appreciated; constantly communicate your appreciation for them Corporate America makes financial decisions, not personal ones; this creates an opportunity for founder-led businesses that have more skin in the game You should be in a rush to get to your last business: “I'm not really interested in your first business. I'm interested in your last business.” – David Senra Lock in with a singular focus and do that thing better than anybody else; if you try to be all things for all people, then you are not anything to anybody Do not listen to “experts”; listen to your gut and intuition Limit the amount of details to perfect, then make every detail perfect “Never ever give up, and be fanatical. You've got to be fanatical. Nothing ever happens unless someone pursues a vision fanatically.” – Todd Graves  Read the full notes @ podcastnotes.orgTodd Graves is one of my favorite living entrepreneurs. He's a great example of Charlie Munger's maxim: Find a simple idea and take it seriously. Todd wanted to create a quick service restaurant that only focused on quality chicken finger meals and nothing else. Everyone told him that couldn't possibly work. The college paper that described the idea that would turn into Raising Canes got the lowest grade in the class. Banks wouldn't loan him any money —but nothing could stop Todd from living out his "chicken finger dream." He worked 95 hour weeks as a boilermaker, risked his life on a commercial fishing boat off the coast of Alaska, and scrounged up startup money from his bookie and a guy named Wild Bill. Todd made every mistake in the book, over leveraged himself, almost lost everything and yet he refused to give up or sell out. Today he has over 800 locations, 50,000 employees, and owns 90% of a business that's worth at least $10 billion. Todd's maxim is "Do one thing and do it better than anyone else." Sources: Trading Secrets: Raising Cane's founder Todd Graves reveals his path to building the wildly popular restaurantTheo Von: Raising Cane's Founder Todd Graves----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Episode SummaryIn this episode of Undercurrent Stories, host Bob Wells welcomes Cole Smead, CEO and portfolio manager of Smead Capital Management and host of A Book with Legs podcast. Cole shares powerful insights on how reading influences investment decisions, the importance of pattern recognition in the stock market, and how history, economics, and psychology shape financial success.Discover how top investors like Warren Buffett and Charlie Munger use books as a secret weapon for smart investing. Cole also discusses market trends, portfolio management, and the role of gold, real estate, and crypto in modern investing.What You'll Learn in This Episode:✅ How reading books can improve your investment strategy

Todd Graves is one of my favorite living entrepreneurs. He's a great example of Charlie Munger's maxim: Find a simple idea and take it seriously. Todd wanted to create a quick service restaurant that only focused on quality chicken finger meals and nothing else. Everyone told him that couldn't possibly work. The college paper that described the idea that would turn into Raising Canes got the lowest grade in the class. Banks wouldn't loan him any money —but nothing could stop Todd from living out his "chicken finger dream." He worked 95 hour weeks as a boilermaker, risked his life on a commercial fishing boat off the coast of Alaska, and scrounged up startup money from his bookie and a guy named Wild Bill. Todd made every mistake in the book, over leveraged himself, almost lost everything and yet he refused to give up or sell out. Today he has over 800 locations, 50,000 employees, and owns 90% of a business that's worth at least $10 billion. Todd's maxim is "Do one thing and do it better than anyone else." Sources: Trading Secrets: Raising Cane's founder Todd Graves reveals his path to building the wildly popular restaurantTheo Von: Raising Cane's Founder Todd Graves----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Episode Summary Why do so many talented freelancers stay stuck year after year? It's not because of market conditions, AI, or lack of experience — it's because of hidden, faulty assumptions that shape decisions and limit options. In this episode, we uncover how these invisible mental barriers hold freelancers back and how to break through them with a structured, practical approach. What You'll Learn: How to identify hidden assumptions that keep you stuck The Assumption Audit: A framework to challenge limiting beliefs How first-principles thinking helps you create better solutions Real-world examples of freelancers overcoming their mental roadblocks Actionable steps to test new empowering assumptions and create breakthroughs Key Takeaways: The Invisible Problem: Hidden Assumptions Many freelancers believe they're stuck because of external factors (competition, AI, bad clients), but the real issue is often internal. Assumptions operate in the background like invisible software, filtering out opportunities before you consciously consider them. The biggest breakthroughs happen when you identify and challenge these faulty assumptions. The Assumption Audit: A 3-Step Framework Define Your Sticking Point – What's the biggest challenge in your business right now? What decision have you been avoiding? List Every Assumption – Write down everything you believe about this problem, even if it seems obvious or unchangeable. Challenge and Reframe – Use fact-based analysis to break down each assumption and explore alternative perspectives. Examples of Limiting Assumptions & How to Reframe Them “I can't find higher-paying clients.” → Fact: Many freelancers charge premium rates. The real issue isn't a lack of clients—it's a lack of a system to find and convert them. “AI is replacing writers.” → Fact: AI is a tool, not a replacement. Businesses still need human insight, strategy, and nuance. The opportunity is in using AI to enhance, not replace, your skills. First-Principles Thinking: Breaking Assumptions Down to Their Core Instead of relying on “common knowledge,” analyze problems from the ground up. Example: Investors like Charlie Munger stripped business decisions down to fundamental truths, leading to long-term success. Freelancers can apply the same principle to business challenges—questioning industry norms and carving out unique solutions. Reframing Your Problems for New Solutions Ask yourself powerful questions: “If I had to solve this problem in 30 days, what would I do?” “What if failure wasn't possible?” “What if I reversed the problem and worked backward?” By shifting perspective, you open up solutions you may never have considered. Testing New Assumptions Don't try to change everything at once—pick one assumption and design a simple experiment to test it. Example: Old belief: “I need a huge portfolio to charge premium rates.” New belief: “One strong case study is more valuable than multiple weak samples.” Test: Create a deep case study and pitch it to five potential clients. Avoiding Blind Spots & Taking Action Many freelancers struggle not because of a lack of information, but because they're too close to their own business to see their blind spots. The fastest breakthroughs come from questioning deeply held beliefs and taking small, strategic steps toward change. Listener Challenge: Identify the biggest challenge in your business. List all the assumptions you've made about why it's a problem. Challenge those assumptions with facts. Pick one new, empowering assumption and design a small experiment to test it this week. Want Help with Your Breakthrough? If you're serious about breaking through your biggest challenge, working with an experienced business coach can provide the objective feedback and accountability needed to accelerate progress. I've coached well over 1,000 freelance writers, copywriters and solo marketers over the past 13 years. And I open up coaching spots a few times a year to help freelancers pinpoint blind spots, implement effective strategies, and achieve real breakthroughs. If you're interested in exploring this, email me [] with “COACHING” in the subject line. I'll reply with some questions to learn more about what you're looking for. If it sounds like I can help, I'll send you all details. Final Thought What assumptions are YOU holding onto that might be keeping you stuck? It's time to break them down and build something better.

What I learned from having an intense and fun 3 hour dinner with Michael Ovitz. 1: Mediocrity is always invisible until passion shows up and exposes it.2: There's no ceiling on where you can push your profession.3: Don't be unequally yoked. Pick partners that have the same ambition as you.4: Read biographies. Know everything about the history of your industry.5. Have a profound sense of belief. The world is very malleable. 6: There's opportunity hiding in plain sight.7: By endurance we conquer. 8: Work 10% less. Optimize for the long term. 9. Surround yourself with people who will tell you the truth.10: Retirement is lame.----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

At the core of Michael Ovitz's success is his relentless work ethic and commitment to mastering his craft. 50 years ago he founded Creative Artists Agency. CAA starts out as just five young guys in a run down office and eventually becomes the most powerful agency in the world. Ovitz's autobiography explains how that happened. As the Wall Street Journal wrote: When the history of Hollywood is written, few people will have played a larger role than Michael Ovitz. This episode is what I learned from reading (for the 2nd time!) Who Is Michael Ovitz?: The Rise and Fall (and Rise) of the Most Powerful Man in Hollywood by Michael Ovitz. ----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Vesto: All of your company's financial accounts in one view. Connect and control all of your business bank accounts from one dashboard. Go to Vesto and schedule a demo with the founder Ben. Tell him David sent you. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

For over 30 years the Berkshire Hathaway Annual meetings were recorded. Munger and Buffett answered over 1700 questions from shareholders during that period. Alex Morris watched hundreds of hours of these meetings and then he gathered, organized, and edited the most interesting ideas into 450+ pages — all in Buffett and Munger's own words.  I thought it would be fun to rip through a bunch of Munger and Buffett's best ideas very rapidly. It was. This episode is what I learned from reading Buffett and Munger Unscripted: Three Decades of Investment and Business Insights from the Berkshire Hathaway Shareholder Meetings by Alex Morris.----Ramp gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud by going to Ramp and learning how they can help your business control your costs and save more. ----Vesto: All of your company's financial accounts in one view. Connect and control all of your business bank accounts from one dashboard. Go to Vesto and schedule a demo with the founder Ben. Tell him David sent you. ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work.  Get access to Founders Notes here. ----Join my free email newsletter to get my top 10 highlights from every book---- ----Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

In this episode of Hustle Inspires Hustle, Alex Quin sits down with Craig Ballantyne, author of The Dark Side of Discipline, to explore the true meaning of discipline and productivity. They discuss why people often waste effort on the wrong tasks, how to identify and focus on level 10 problems, and the importance of sleep as the foundation of success. Craig shares insights on accountability, avoiding burnout, and applying the 80/20 rule to maximize efficiency. They also touch on the downsides of alcohol, the misconception that success requires suffering, and lessons from billionaire Charlie Munger. This conversation is packed with practical strategies to achieve more while working smarter, not harder.Episode Outline[00:00:03] Intro – Alex Quin introduces Craig Ballantyne[00:02:10] How Alex and Craig first met at the $100M Mastermind[00:04:45] Craig's book-writing process & the challenges of editing[00:09:30] The dark side of discipline – why more effort isn't always better[00:14:50] Identifying and fixing level 10 problems in life and business[00:21:00] The importance of defining success and setting boundaries[00:27:40] Sleep as the foundation of success – why bedtime is key[00:34:15] Avoiding self-sabotage and knowing when to pivot[00:40:00] The role of accountability and how public commitments help[00:45:25] Overcoming complacency – shifting from personal goals to impact[00:50:10] Craig on alcohol – why he quit and how it changed his life[00:55:30] The 80/20 rule for productivity and decision-making[01:01:00] Lessons from Charlie Munger – success without suffering[01:05:50] Where to find Craig's book and follow him on social mediaWisdom NuggetsLevel 10 Effort for Level 10 Problems: Many people waste time on things that feel productive but don't move the needle. Identify what truly matters and focus on that.Your Most Important Alarm is at Night: Success starts with getting to bed on time. A structured nighttime routine ensures productivity the next day.Accountability Creates Action: Sharing your goals with people you respect makes you more likely to follow through. Find someone you don't want to disappoint.Cut What Doesn't Work: The 80/20 rule applies to everything. Identify where your biggest wins come from and double down while eliminating distractions.Success Doesn't Require Suffering: You don't have to struggle or push through misery to be successful. Smart, focused action beats grinding for the sake of it.Power Quotes:“The ultimate definition of discipline is putting a level 10 effort into your level 10 problem. Everything else is just entertainment.” – Craig Ballantyne“Getting to bed on time is the most boring but most powerful habit for success.” – Craig BallantyneI keep a list of my goals next to a list of mistakes I'll never make again.” – Alex Quin“I nerd out on every book I read. I take notes, organize ideas, and apply what I learn.” – Alex Quin“Hustling doesn't mean grinding 24/7. It means being smart about how you spend your time.” – Alex QuinConnect With Craig Ballantyne:Pre Order "Dark Side of Discipline" (https://darksideofdiscipline.com/)Instagram: (https://www.instagram.com/realcraigballantyne/?hl=en)Connect With the Podcast Host Alex Quin:Instagram: (https://www.instagram.com/alexquin)Twitter: (https://twitter.com/mralexquin)LinkedIn: (https://www.linkedin.com/in/mralexquin)Website: (https://alexquin.com)TikTok: (https://www.tiktok.com/@mralexquin)Our CommunityInstagram:(https://www.instagram.com/hustleinspireshustle)Twitter: (https://twitter.com/HustleInspires)LinkedIn: (https://www.linkedin.com/company/hustle-inspires-hustle)Website: (https://hustleinspireshustle.com)*This page may contain affiliate links or sponsored content. When you click on these links or engage with the sponsored content and make a purchase or take some other action, we may receive a commission or compensation at no additional cost to you. We only promote products or services that we genuinely believe will add value to our readers & listeners.*See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

“Show me the incentive, and I will show you the outcome.” Warren Buffet's vice chairman Charlie Munger's succinct and insightful take reminds us of the power of incentives—and provides a backdrop for this project. In this first episode of the “Buy: The Way…To Purposeful Procurement” podcast, produced collaboratively by the teams at Art of Procurement and Fine Tune, Fine Tune CEO Rich Ham, Philip Ideson, and Kelly Barner lay the groundwork for this year-long series of bi-weekly episodes featuring hand-picked guests that will explore various flaws within commonplace procurement department incentive structures, and how those flaws are holding the profession back from its most purposeful potential. This first conversation sets the stage for frank discussions with practitioners, procurement leaders, and subject matter experts about how prevailing systems of incentives create harms to the status quo, what a healthier system might look like, and the outcomes such improved systems might produce—both within the company's walls and beyond them.  Links: Rich Ham on LinkedIn Learn more at FineTuneUs.com

The principles of investing are fairly simple to understand. Application requires some intensity. William Green is the author Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life. Green also hosts a podcast with the same title. Robert Brokamp caught up with him for a conversation about: - What successful investing comes down to. - The personality traits of market beaters. - Investing lessons from Charlie Munger, Howard Marks, and John Templeton. Companies mentioned: BRK.A, BRK.B, MKL Host: Robert Brokamp Guest: William Green Producer: Ricky Mulvey Engineer: Rick Engdahl Learn more about your ad choices. Visit megaphone.fm/adchoices

Go to www.LearningLeader.com for full show notes. The Learning Leader Show With Ryan Hawk This is brought to you by Insight Global. If you need to hire 1 person, hire a team of people, or transform your business through Talent or Technical Services, Insight Global's team of 30,000 people around the world have the hustle and grit to deliver. My Guest: Mike Maples Jr is a co-founding Partner at Floodgate. He has been on the Forbes Midas List eight times in the last decade and was recently profiled by Harvard Business School for his lifetime contributions to entrepreneurship. Some of his early investments include: Twitter, DemandForce, Twitch, and Applied Intuition. Mike is also the bestselling author of Pattern Breakers: Why Some Start-Ups Change the Future. Notes   Chance favors the prepared mind. We are all visited by luck, but most of us don't answer the door. We need to become a professional noticer. That is Mike's favorite verb. Noticing. Most people don't have prepared minds. Be intentional about noticing the world around you and being prepared for when luck visits you. Mike's dad died 7 days before we recorded. “He was a mentor, a friend, and one of the greatest inspirations of my life.” His advice: Do your best. There's only one of you. Decide what to do with your gift of time, be intentional. Have gratitude for your time. Make the most of it. Don't waste it trying to be someone else. Focus - Fishing competition when Mike was 5 or 6. Let's find a good spot and stay there the entire time. While everyone else moved constantly, Mike and his dad stayed in their spot, caught a big carp, and won. Bill Gates begged Mike's dad to “be the adult in the room” at Microsoft. Mike Sr would say to the people he led at Microsoft, "I want to know that you're thinking about what you're doing." He used a Socratic method. He was not prescriptive. Be proactive. Have an intentional strategy. Be intentional. Jonathan Livingston Seagull - The biggest limits in the world are the limits of your mind, your imagination, and your actions– not the limits of the world itself. Have to get over that voice in your head that says, “You're not good enough.” We get told to be realistic or stay within the lines. Everybody is figuring it out as they go. Everyone is “winging it.” Only by being radically different can you make a radical difference. Great founders are like Patrick Mahomes and Steph Curry. You don't know how they're going to score, but you know they will. Practice Reckless Optimism – The world is built by Optimists. You need to be FOR something. Bet ON something, not against it. Mike sees himself as a co-conspirator more than an investor. There can't be a recipe for a breakthrough because by definition breakthroughs haven't happened yet. “Chance favors the prepared mind.” We are all visited by luck but most don't answer the door. Chris Rock - Forming unexpected connections. Sam Beskind (Stanford basketball player where he played for Rob Ehsan) - Time management strategy. Stanford coaches had a one-pager with 3 keys to winning. Not 20. 3. If you have 20 keys, you have none. Nobody can remember all that. Life/Career Advice: Internalize what it means to do your best. Gratitude for your time. Avoid the trap of mimetic desire. The “T” of knowledge. Charlie Munger. Try to know what the best ideas that have ever existed in a wide range of fields. Then choose one field to know about more than anyone else in the world. Have one area where you are fanatically obsessed. For Mike, that's startups.

#576: The world's greatest investors have a secret: they're weird.  When one young fund manager met Bill Miller for the first time, he refused to shake hands. Instead, he locked eyes and declared: "I'm going to beat you, man." William Green joins us to share what he's learned from decades of conversations with investing legends — from the hyper-competitive to the deeply philosophical.  These conversations reveal that success isn't just about strategy; it's about understanding yourself and playing to your strengths. The best investors are mavericks who think differently. They're willing to look strange, be lonely, and diverge from the crowd. Templeton demonstrated this during WWII. When Germany invaded France and markets crashed, he bought 104 stocks trading under $1 — including 37 bankrupt companies. His contrarian bet paid off 5x when markets recovered. But Green emphasizes this isn't just about getting rich.  His decades of interviews reveal deeper wisdom about building a good life: Great investors focus on what they can control. They can't predict markets, but they can manage their behavior and emotions. They embrace simplicity. Jack Bogle advocated owning low-cost index funds rather than chasing complex strategies. They understand odds and risk. Howard Marks asks "What's the consequence if I'm wrong?" before making decisions. They play to their strengths. Charlie Munger says if you're 5'3", don't try to be a pro basketball player. They live below their means. As investor Tom Gaynor notes, "If you're living within your means, you're already rich." Green shares a practical framework called HALT PS — don't make important decisions when Hungry, Angry, Lonely, Tired, in Pain, or Stressed. This applies beyond investing to daily life. The conversation explores how to build resilience before market crashes through healthy habits, self-awareness, and preparation. Green notes that many successful investors practice meditation and read widely across disciplines. Even legends make mistakes. Bill Miller saw his assets drop from $77 billion to $800 million during the 2008 crisis. But he rebounded by staying true to his principles and learning from failure. Green's key message? Focus less on getting rich and more on building an "anti-fragile" life aligned with your values and strengths.  The best investors aren't just good at making money — they're skilled at creating lives of meaning and purpose. Find more from William Green at williamgreenwrites.com or on his podcast Richer, Wiser, Happier, featured on the We Study Billionaires feed. Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths. (01:00) Meeting Sir John Templeton in the Bahamas (04:02) Templeton's WWII stock strategy during market crash (12:00) Wisdom vs survivorship bias in investing stories (14:55) Why great investors recommend index funds (23:34) Prioritizing freedom over wealth maximization (39:27) Bogle's client-first philosophy (51:32) Living below means for market volatility (01:01:37) HALT PS conditions leading to poor choices (01:06:45) Using data for better decision making (01:11:13) Bogle's emphasis on simple investing (01:14:30) Danoff's "stocks follow earnings" strategy For more information, visit the show notes at https://affordanything.com/episode576 Learn more about your ad choices. Visit podcastchoices.com/adchoices