Podcasts about Munger

Charlie Munger spent his life studying one question: why do smart people make bad decisions? In his legendary talk The Psychology of Human Misjudgement, Munger outlined 25 psychological tendencies that quietly distort how we think. From incentives and social proof to denial, envy, and authority bias, you'll learn how these hidden tendencies shape behavior and how to build the mental defenses that helped Munger create one of the best decision records in history. You'll hear practical examples, powerful antidotes, and lessons you can apply to business, investing, and everyday life. ----- Chapters: (00:00) Introduction: (01:38) Pattern #1: Reward and Punishment Superresponse Tendency (05:00) Pattern #2: Liking/Loving Tendency (08:38) Pattern #3: Disliking/Hating Tendency (11:48) Pattern #4: Doubt-Avoidance Tendency (14:19) Pattern #5: Inconsistency-Avoidance Tendency (20:08) Pattern #6: Curiosity Tendency (21:30) Pattern #7: Kantian Fairness Tendency (23:32) Pattern #8: Envy/Jealousy Tendency (27:32) Pattern #9: Reciprocation Tendency (31:52) Pattern #10: Influence-from-Mere-Association Tendency (35:43) Pattern #11: Simple, Pain-Avoiding Psychological Denial (37:53) Pattern #12: Excessive Self-Regard Tendency (41:06) Pattern #13: Overoptimism Tendency (42:11) Pattern #14: Deprival-Superreaction Tendency (45:28) Pattern #15: Social-Proof Tendency (48:56) Pattern #16: Contrast-Misreaction Tendency (51:33) Pattern #17: Stress-Influence Tendency (54:20) Pattern #18: Availability-Misweighing Tendency (54:54) Pattern #19: Use-It-or-Lose-It Tendency (56:26) Pattern #20: Drug-Misinfluence Tendency (57:23) Pattern #21: Senescence-Misinfluence Tendency (58:42) Pattern #22: Authority-Misinfluence Tendency (01:01:58) Pattern #23: Twaddle Tendency (01:04:18) Pattern #24: Reason-Respecting Tendency (01:06:42) Pattern #25: Lollapalooza Tendency (01:10:28) Epilogue ----- I published the full updated version on fs.blog with his permission, we are the only website to my knowledge that had his personal permission to post it. ----- Upgrade: Get hand-edited transcripts and an ad-free experience, and so much more. Learn more @ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/membership⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Newsletter: The Brain Food newsletter delivers actionable insights and thoughtful ideas every Sunday. It takes 5 minutes to read, and it's completely free. See what you're missing: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠fs.blog/newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ------ Follow Shane Parrish X ⁠⁠⁠⁠⁠@ShaneAParrish⁠⁠⁠⁠⁠ Insta ⁠@farnamstreet⁠ LinkedIn ⁠Shane Parrish ------ This episode is for informational purposes only. Learn more about your ad choices. Visit megaphone.fm/adchoices

Tu kupisz: Almanach Charliego Mungera I mamy pożegnalny list Warrena Buffetta. Chociaż wydawałoby się, że takim pożegnaniem było jego wystąpienie w maju w Omaha, to jednak Warren postanowił dodać od siebie kilka słów na koniec. Jeszcze jeden list, jeszcze jedna wiadomość… i formalnie koniec, w wieku 95 lat. Chociaż i tak wszyscy wiemy, że dalej będzie przyjeżdżał codziennie do Berkshire Hathaway i do ostatnich swoich dni będzie „Wyrocznią z Omaha”, nawet jeśli z wizytówki zniknie skrót CEO.  W tym odcinku:- ostatni list Buffetta, kilka fragmentów i jego znaczenie- mit ostatniego zakupu, to nie Warren kupił akcje Google- co dalej z BRK, czyli znika premia Buffetta.Linki:- list Warena w oryginale- tłumaczenie listu od SIIA tu rejestracja: ForFinNewsletter podcastu: Nic za darmo ExtraFinansoweksiazki.pl - znajdziesz tu najlepsze książki o finansach i inwestowaniu 

Robert Karas is a Partner and Chief Investment Officer at Bank Gutmann in Vienna, Austria's oldest private bank, where he oversees investment strategies for ultra-high-net-worth clients. Robert is a seasoned investor on a lifelong journey known for his thoughtful investment philosophy and engaging market insights.3:00 - Robert describes the 1960s "paperwork crisis" when Wall Street trading volumes exploded and people physically schlepped suitcases of stock certificates along Wall Street, requiring the establishment of the Depository Trust Company in 1973.5:20 - Bogumil shares his vivid memory of holding physical account statements from decades ago, witnessing the literal doubling of family fortunes—"two turning into four, four turning into eight"—and how the tangible nature of old statements helped him grasp the true power of long-term compounding.6:45 - Discussion of Buffett's revolutionary fee structure: zero management fees, profit sharing only above hurdles, and the forgotten detail—unlimited personal liability for losses. "Talking about aligned interests... we all talk about it, but normally we do not share in the downside directly."14:30 - Robert explains why Buffett dissolved his partnerships in 1969: "He didn't want to manage other people's emotions anymore." The shift from managing external capital to managing Berkshire allowed him to focus purely on business building without quarterly redemption pressures.25:00 - The power of Buffett's language: simple, clear, authentic communication that builds trust. Robert notes how Buffett writes letters "as if he's sitting in your living room explaining things to you."38:15 - Discussion of Berkshire as more than just an investment—it becomes part of people's identities, something they want to pass to their children, transforming from a stock into a legacy vehicle.56:30 - Bogumil's insight about Omaha during the annual meeting: "There's no other place on earth that for a few days, I have more friends per square mile than anywhere else."59:00 - Final reflection on trust and doing the right thing even when nobody's watching—the essence of working with families and the true lesson from Buffett and Munger.Podcast 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.

Tu kupisz: Almanach Charliego Mungera Dzisiaj Święto Niepodległości, a odcinek w temacie naszej własnej, osobistej niepodległości, niezależności, samostanowienia – stanu, w którym faktycznie to my decydujemy, a nie tylko oszukujemy się, że tak jest. Nikt lepiej nie wytłumaczy nam tego tematu niż Charlie Munger, który przez lata pracując na dziesiątkach tzw. modeli myślowych sprowadzał swoje życie do tego, że trzeba je przeżyć na własnych zasadach, sprzedawać tylko rzeczy, w które się wierzy, pracować tylko z ludźmi, których się szanuje i podziwia. I bez owijania w bawełnę, do tej niezależności potrzebne są pieniądze.  Dzisiaj odcinek pełen wiedzy zaczerpniętej od wybitnego myśliciela i inwestora, któremu zaledwie kilka tygodni zabrakło do świętowania setnych urodzin.A tym odcinku: - na czym polega reguła 100 tysięcy i jak to osiągnąć?- niezależność finansowa na wielu poziomach- i dlaczego pod wieloma względami Munger jest dużo lepszym nauczycielem niż BuffettNewsletter podcastu: Nic za darmo ExtraFinansoweksiazki.pl - znajdziesz tu najlepsze książki o finansach i inwestowaniu 

In this podcast episode, ranching experts Wally Olson, John Haskell, and Brian Munger to discuss the intricacies of sell-by marketing in the cattle industry. The conversation covers the importance of understanding market dynamics, the risks associated with traditional buying and selling methods, and the practical applications of sell-buy marketing strategies. The guests share insights on valuing livestock, identifying market inefficiencies, and they discuss their innovative sell/buy marketing school. If you are looking to add somebody to your team to help with your farm or ranch numbers, check out John Haskell and his team at ⁠⁠⁠https://www.ranchrightllc.com/⁠⁠⁠.Check out ⁠⁠⁠⁠⁠⁠www.pharocattle.com⁠⁠⁠⁠⁠⁠ for more information on how to put more fun and profit back into your ranching business! As always, check us out at Ranching Returns Podcast on Facebook and Instagram as well as at ⁠www.ranchingreturns.com⁠.For Ranching Returns shirts, hats, and sweatshirts check out https://farmfocused.com/ranching-returns-merch/If you're interested in Farmatan to fight scours in your operation, call Paul Mitchell at 515-745-1639 or check out farmatanusa.com.

In this solo episode of Business Coaching Secrets, Karl Bryan takes the reins, diving deep into strategies for client communication, drip campaigns, frameworks for business growth, and timeless investing wisdom inspired by Warren Buffett and Charlie Munger. With Rode Dog traveling, Karl delivers practical advice for coaches and their clients—from executing high-impact email sequences to structuring offers that sell and building true wealth through the power of compounding. Key Topics Covered Drip Campaigns & Funnels that Convert Karl Bryan breaks down the anatomy of effective drip campaigns—using not just email, but texts, voicemails, calls, and even direct mail—to stay top of mind and drive prospects towards action. He emphasizes nurturing, education, and persistence over hard selling, revealing real-world examples of campaigns that generated over a million dollars in revenue. Building High-End Programs and Upsell Funnels Karl encourages coaches to help clients create tightly defined, high-ticket programs ($10k, $25k, $50k+) with robust profit margins. He explains the importance of segmenting audiences and tailoring drip sequences, stressing that coaches should study successful operators in competitive markets to shortcut their own learning. The Psychology of Offers Discussion includes using urgency, scarcity, guarantees, bonuses, and exclusivity to motivate buyers—drawing on real-world tactics from luxury brands and industry leaders. Investing Wisdom from Warren Buffett & Charlie Munger Karl unpacks Buffett's two rules—don't lose money; see Rule #1—and shares how the path to true wealth is rooted in patience, clear math, and avoiding movement for movement's sake. He links these principles to business coaching, stressing the power of compounding marginal gains in practice, career, and investment. Actionable Wealth Creation Strategies Explores practical frameworks for investing in business, stocks (S&P index), and real estate, emphasizing dollar cost averaging, critical thinking, and learning from bubbles/past mistakes. Notable Quotes "Performance improves by releasing tension, judgment, and overthinking—not by piling it on." "Educated people buy more. Educate your leads through that sequence of emails, texts, calls, voicemails, etc. It's not buy, buy, it's educate, educate, educate." "Persistence is a measure of your self-esteem. Do you persist? Do you feel like you deserve the business?" "Rule #1: Don't lose money. Rule #2: See Rule #1. Avoiding stupidity automatically places you in the top 1% because the rest of the crowd is too busy chasing brilliance." "Real wealth is built the old boring way, staying the course, math as the foundation." Actionable Takeaways Expand Your Drip Campaigns Beyond Email: Utilize a sequence of texts, voicemails, calls, and direct mail in addition to emails to maximize client engagement. Educate Relentlessly: Focus on teaching and adding value through every touchpoint. Selling comes after trust and knowledge are built. Create Tightly Defined High-End Offers: Help clients establish premium programs with clear outcomes and strong margins; research top players in competitive markets for proven frameworks. Test, Measure, and Refine: Track the performance of campaigns and offers, adjust based on data rather than gut feelings, and always aim for compounding marginal improvements. Motivate Action With Urgency & Scarcity: Build "windows of opportunity," enrollment periods, and limited-time bonuses to prompt decisions. Lead with Guarantees and Exclusivity: Structure guarantees (money-back, buyback, long-term, double-your-money-back) and consider exclusive tiers or bonuses to differentiate. Avoid Movement for Movement's Sake: Apply Buffett and Munger's principles: patience, compounding, and critical thinking beats frequent switching and chasing trends. Invest with Dollar Cost Averaging: For wealth outside business, consistently invest fixed amounts into the S&P index or bitcoin, regardless of market cycles, and avoid leverage. Segment Your Audience: Tailor messaging and offers based on client behaviors and demographics for better results. Prioritize Compounding Improvements: Focus on small gains across multiple areas—these add up exponentially in your business and wealth over time. Resources Mentioned Profit Acceleration Software™ (by Karl Bryan) Powerful tool for coaches to demonstrate instant ROI to prospects. AI Tools ChatGPT, Grok—suggested for generating campaign frameworks and optimizing messaging. Books The Inner Game of Tennis Key lessons on peak performance and mindset. Jab, Jab, Jab, Right Hook by Gary Vee Framework for providing value before selling. Thought Leaders Referenced Warren Buffett & Charlie Munger—investing, wealth creation Alex Hormozi—quantity discount strategies Michael Burry—The Big Short, investing critical thinking Peter Thiel—bitcoin's shifting competitive edge Focused.com Karl Bryan's resource hub for business coaching strategies and Profit Acceleration Software™ demos: https://go.focused.com/profit-acceleration The Six-Figure Coach Magazine Free subscription for actionable coaching insights: https://thesixfigurecoach.com/get-it If you enjoyed the episode, please subscribe, share with a fellow coach, and leave a review. See you next week on Business Coaching Secrets! Ready to take your coaching business and your wealth to the next level? Don't wait—visit Focused.com for more information on Profit Acceleration Software™ and join our community of high-performing coaches.

Are you avoiding AI because you're too busy—or because you don't want to confront what you don't understand? In this episode, host Bradley Hartmann tackles resistance to AI adoption in the construction industry head-on, using the timeless wisdom of Charlie Munger to reveal the dangers of staying uninformed. Whether you're skeptical, curious, or somewhere in between, this episode will challenge how you lead in a rapidly changing tech landscape. In this episode you will: Understand the real risk of letting competitors outpace you with AI adoption Learn why forming an opinion on AI is a leadership responsibility, not a tech task Discover how timeless investing wisdom from Munger and Buffett applies to construction strategy today Listen now to learn how construction leaders can build tech fluency, lead with confidence, and stay competitive in the AI age. 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.

Meta AI glassesAmazon glasses: https://www.aboutamazon.com/news/transportation/smart-glasses-amazon-delivery-driversSamsung Week 2025: https://news.samsung.com/us/samsung-week-2025-celebrating-innovation-offers-on-tech-that-powers-possibility/ Amazon robots: https://www.theverge.com/news/803257/amazon-robotics-automation-replace-600000-human-jobsWaymo a Londres: https://www.theguardian.com/technology/2025/oct/15/driverless-taxis-from-waymo-will-be-on-londons-roads-next-year-us-firm-announces Nexperia and our global supply chain: https://www.cnbc.com/2025/10/22/volkswagen-warns-of-output-stoppages-amid-nexperia-chip-disruption.html Des podcasts sur Netflix ? https://www.nytimes.com/2025/10/14/business/media/netflix-spotify-podcast-deal.html Inspiration#DOCUMENTARY :: Starting 5 - Season 2 on Netflix BOOK ::Montaigne - Stefan Zweig https://www.amazon.fr/Montaigne-Stefan-Zweig/dp/2253100773 A Fortune-Teller Told Me: Earthbound Travels in the Far East Tiziano Terzani https://www.amazon.com/Fortune-Teller-Told-Me-Earthbound-Travels/dp/060980958X The Dream of Solomeo: My Life and the Idea of Humanistic Capitalism by Brunello Cucinelli https://www.amazon.com/dp/8807339153/?tag=offsitoftimfe-20 Book: A Man For All Market https://www.edwardothorp.com/books/a-man-for-all-markets/ #PODCASTDavid Senra — How Extreme Winners Think and Win: Lessons from 400 of History's Greatest Founders and Investors (Including Buffett, Munger, Rockefeller, Jobs, Ovitz, Zell, and Names You Don't Know But Should) https://tim.blog/2025/09/24/david-senra/ Podcast :: https://www.youtube.com/watch?v=gs39QFYIbBY Sol Price was an American retail pioneer who founded the discount store chain Fed-Mart in 1954 and the warehouse club Price Club in 1976, which later merged with Costco https://en.wikipedia.org/wiki/Sol_Price #QUOTE :: “Both tears and sweat are salty, but they render a different result. Tears will get you sympathy; sweat will get you change.” — ​Jesse Jackson Hébergé par Acast. Visitez acast.com/privacy pour plus d'informations.

CryptoThe Investor's Podcast (TIP): 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 --------- On today's episode, Kyle Grieve discusses ten investing principles from legends like Warren Buffett, Peter Lynch, and John Neff. Each lesson reveals how these masters built lasting wealth through timeless thinking. It's a crash course in investing smarter, thinking clearer, and playing the long game. IN THIS EPISODE YOU'LL LEARN: 00:00:00 Intro 00:03:02 How Buffett's brutal honesty became a blueprint for lasting success 00:07:22 How to apply Graham's margin of safety in an intangible world 00:14:11 How Lynch turned everyday observation into powerful investing opportunities 00:24:04 How Fisher gained an edge using alternative information sources 00:27:31 Where Templeton cast his line to find rare opportunities 00:32:18 Why Neff proved a low P/E isn't real value 00:37:10 How Howard Marks sharpens thinking in uncertain markets 00:41:42 Why Sleep & Zakaria guard their winners to compound wealth 00:53:03 How Pabrai uncovers hidden value 00:59:48 The power of Munger's win-win mindset, both life and investing And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Follow Kyle on X and LinkedIn. Related ⁠⁠⁠⁠books⁠⁠⁠⁠ mentioned in the podcast. Ad-free episodes on 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: Simple Mining Human Rights Foundation Unchained HardBlock Linkedin Talent Solutions Kubera reMarkable Onramp Netsuite Shopify Vanta Public.com Abundant Mines Horizon Support our show by becoming a premium member! ⁠⁠⁠⁠https://theinvestorspodcastnetwork.supportingcast.fm⁠⁠⁠ 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

CryptoThe Investor's Podcast (TIP) Key Takeaways  Trust compounds over time: Every drop of trust that you drop into the ‘trust bucket' today will be worth more in the future If people like you, they will bring you business; likeability is so important in relationship businesses Be flexible on your core principles if the opportunity is right: One lucky break or shrewd decision may account for more than a lifetime of journeyman effortsTimeless secrets from the best investors in history:    Invest in what you already know  Buy assets for less than they are worthFlexibility is crucial for achieving superior long-term returns A stock can still be undervalued if its valuation metrics are red hot Flexibility is crucial for achieving superior long-term returns Keep your winners and do not trade in and out of them Invest in and surround yourself with people who offer win-win outcomes Don't just consider what will happen, but consider what will happen after that; do this for a few decades, and you will find investments with large margins of safety Reciprocity multiples: Ensure that your relationships are mutually beneficialRead the full notes @ podcastnotes.orgOn today's episode, Kyle Grieve discusses ten investing principles from legends like Warren Buffett, Peter Lynch, and John Neff. Each lesson reveals how these masters built lasting wealth through timeless thinking. It's a crash course in investing smarter, thinking clearer, and playing the long game. IN THIS EPISODE YOU'LL LEARN: 00:00:00 Intro 00:03:02 How Buffett's brutal honesty became a blueprint for lasting success 00:07:22 How to apply Graham's margin of safety in an intangible world 00:14:11 How Lynch turned everyday observation into powerful investing opportunities 00:24:04 How Fisher gained an edge using alternative information sources 00:27:31 Where Templeton cast his line to find rare opportunities 00:32:18 Why Neff proved a low P/E isn't real value 00:37:10 How Howard Marks sharpens thinking in uncertain markets 00:41:42 Why Sleep & Zakaria guard their winners to compound wealth 00:53:03 How Pabrai uncovers hidden value 00:59:48 The power of Munger's win-win mindset, both life and investing And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Follow Kyle on X and LinkedIn. Related ⁠⁠⁠⁠books⁠⁠⁠⁠ mentioned in the podcast. Ad-free episodes on 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: Simple Mining Human Rights Foundation Unchained HardBlock Linkedin Talent Solutions Kubera reMarkable Onramp Netsuite Shopify Vanta Public.com Abundant Mines Horizon Support our show by becoming a premium member! ⁠⁠⁠⁠https://theinvestorspodcastnetwork.supportingcast.fm⁠⁠⁠ 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

This is a preview — for the full episode (released: Oct 15, 2025), subscribe: https://newmodels.io https://patreon.com/newmodels https://newmodels.substack.com Are we entering a neo-oral age? For centuries, linear, text-based media has organized human communication, creating a shared reality, a shared sense of linear time. But as political Scientist Kevin Munger discusses on this ep of NM Talkcore, that ontological structure is rapidly coming undone. For more: https://kevinmunger.com https:// kevinmunger.substack.com Watch: Kevin Munger on Vilém Flusser's “Communicology: Mutations in Human Relations” https://youtu.be/EpVTEoqUCbs?si=e-bh0ewGRsbnzRMq Image: Stafford Beer, 1975 Keywords: accelerationism, Actionists (Viennese), anti-memetics, apparatus, artificial intelligence, bios level, cartesian dualism, chatbots, Communicology, content level, cybernetics, cyberspace, CyberSyn (project), EA (effective altruism), externalities, fanficification, feedback loop, 4chan, game theory, generation gap, large language models (LLMs), Less Wrong, linear media, management cybernetics, media apparatus, media theory, memes, mimetic, mnemonic, mukbang, ontological stability, oral society/orality, platonism, prehension, process philosophy, protocol level, rationalism, recommendation algorithm, recursion, renaissance paintings, secondary orality, singularity, social media, spiral/spiraling, sycophancy, Taylorist management, textual society, video games, whirlpool, World War III (information warfare)

Physicist explains why he's spending so much money to defeat Prop. 50. Also, analysis on the ballot measure and the messaging behind it. Previewing the Sacramento Kings' next season. Finally, Rogue Music Project summons up a spooky new show.

On today's episode, Kyle Grieve discusses ten investing principles from legends like Warren Buffett, Peter Lynch, and John Neff. Each lesson reveals how these masters built lasting wealth through timeless thinking. It's a crash course in investing smarter, thinking clearer, and playing the long game. IN THIS EPISODE YOU'LL LEARN: 00:00:00 Intro 00:03:02 How Buffett's brutal honesty became a blueprint for lasting success 00:07:22 How to apply Graham's margin of safety in an intangible world 00:14:11 How Lynch turned everyday observation into powerful investing opportunities 00:24:04 How Fisher gained an edge using alternative information sources 00:27:31 Where Templeton cast his line to find rare opportunities 00:32:18 Why Neff proved a low P/E isn't real value 00:37:10 How Howard Marks sharpens thinking in uncertain markets 00:41:42 Why Sleep & Zakaria guard their winners to compound wealth 00:53:03 How Pabrai uncovers hidden value 00:59:48 The power of Munger's win-win mindset, both life and investing And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Follow Kyle on X and LinkedIn. Related ⁠⁠⁠⁠books⁠⁠⁠⁠ mentioned in the podcast. Ad-free episodes on 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: ⁠⁠Simple Mining⁠⁠ ⁠⁠Human Rights Foundation⁠⁠ ⁠⁠Unchained⁠⁠ ⁠⁠HardBlock⁠⁠ ⁠⁠Vanta⁠⁠ ⁠⁠LinkedIn Talent Solutions⁠⁠ ⁠⁠Kubera⁠⁠ ⁠⁠Netsuite⁠⁠ ⁠⁠Shopify⁠⁠ ⁠⁠reMarkable⁠⁠ ⁠⁠Onramp⁠⁠ ⁠⁠Public.com⁠⁠ ⁠⁠Abundant Mines⁠⁠ ⁠⁠Horizon⁠⁠ 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

Are you leading your construction team with focus and clarity—or feel like you're constantly putting out fires all day?   In today's episode, Bradley Hartmann shares game-changing lessons from Poor Charlie's Almanack—a book that has quietly shaped some of the sharpest decision-makers in history.    If you're struggling with accountability, resistance to change, or making better decisions under pressure, this episode offers a rare blueprint to lead smarter without burning out.   In this episode, you will: Discover Charlie Munger's mental models to reduce resistance and drive accountability in your team. Learn how to reverse engineer project failures using the concept of "inversion"—and avoid costly mistakes. Get a practical checklist to elevate your leadership and simplify high-stakes decisions on the job. A synopsis of Munger's 25 tendencies of human misjudgment (see link below from the Novel Investor)    https://novelinvestor.com/charlie-mungers-tendencies-of-human-misjudgment/   Press play to learn how one book can reshape your approach to leadership and help you build smarter, more resilient construction teams.    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.  

My guest this week is Leigh Gant, founder and CEO of Unio Growth Partners. We caught up recently at the Australian Shareholders Association's Gold Coast Investor Summit, where Leigh's insights on business and investing sparked a lively discussion. As a business owner, investor, and long-term thinker, Leigh brings a wealth of experience from building and exiting ventures, working with wealth management firms, and now helping businesses grow while guiding investors through market complexities. Influenced by investing legends like Buffett and Munger, he approaches markets with patience and a focus on real-world results.Blog post available at: https://www.sharesforbeginners.com/blog/leigh-gant-irenWatch on YouTube right here.

Are we entering a neo-oral age? For centuries, linear, text-based media has organized human communication, creating a shared reality, a shared sense of linear time. But as political Scientist Kevin Munger discusses on this ep of NM Talkcore, that ontological structure is rapidly coming undone. For more: https://kevinmunger.com https:// kevinmunger.substack.com Watch: Kevin Munger on Vilém Flusser's “Communicology: Mutations in Human Relations” https://youtu.be/EpVTEoqUCbs?si=e-bh0ewGRsbnzRMq Keywords: accelerationism, Actionists (Viennese), anti-memetics, apparatus, artificial intelligence, bios level, cartesian dualism, chatbots, Communicology, content level, cybernetics, cyberspace, CyberSyn (project), EA (effective altruism), externalities, fanficification, feedback loop, 4chan, game theory, generation gap, large language models (LLMs), Less Wrong, linear media, management cybernetics, media apparatus, media theory, memes, mimetic, mnemonic, mukbang, ontological stability, oral society/orality, platonism, prehension, process philosophy, protocol level, rationalism, recommendation algorithm, recursion, renaissance paintings, secondary orality, singularity, social media, spiral/spiraling, sycophancy, Taylorist management, textual society, video games, whirlpool, World War III (information warfare)

Long-Term Stewardship, the Lindy Effect, and Why Alignment Matters More Than ValuationFind me on Substack: https://bogumilbaranowski.substack.com/Michael Gielkens is a partner and co-founder of Tresor Capital, a Netherlands-based independent investment boutique specializing in actively managing wealth through family holding companies and serial acquirers, with deep expertise in capital allocation and owner-operator alignment.EPISODE NOTES3:00 - Discussion of Omaha Berkshire meeting as unique phenomenon bringing global investors together; Michael's Dutch-American background and financial upbringing with CFO father teaching value of money6:00 - Netherlands as birthplace of shareholder concept and securities trading; connection between Dutch Republic's innovation and modern capital markets; family ownership enabling multi-generational wealth preservation12:00 - Core investment philosophy: skin in the game as non-negotiable prerequisite; alignment of interests at every level including portfolio managers investing alongside clients15:00 - Family holding companies explained: listed family offices with long-term orientation, no quarterly guidance pressure, avoiding short-term thinking that plagues typical public companies21:00 - Serial acquirers as superior capital allocators; decentralized decision-making allowing continuous reinvestment at high returns; Swedish companies as breeding ground for this model28:00 - Return on incremental invested capital as key metric; Munger principle that long-term returns match business returns on capital; importance of reinvestment runway34:00 - Quality over value traps: companies at small discounts with proven track records versus deep discounts hiding mismanagement; French holding company cautionary tale of nepotism and value destruction42:00 - Learning from mistakes: avoiding cheap stocks requiring constant attention; importance of doing your own homework rather than blindly cloning positions46:00 - Market volatility response: having valuations ready, buying quality companies at 45-50% discounts during external shocks when they normally trade at 20% discount51:00 - Success defined by relationships and fulfillment, not financial metrics; open collaboration and transparency building compounding relationships; Munger's funeral testPodcast 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.

Dos de los inversores más brillantes de la historia, Warren Buffett y Charlie Munger, convirtieron un error inicial en un imperio valorado en más de 740.000 millones de dólares. ¿Cómo lo hicieron? En este episodio, Corti desglosa las lecciones clave de su filosofía y cómo aplicarlas al mundo del Growth.

In this episode of Excess Returns, Matt Zeigler sits down with investor and author Bogumil Baranowski to discuss one of investing's most important mindset shifts: moving beyond cheap stocks to paying up for quality and exceptional opportunities. Drawing on lessons from Warren Buffett, Ben Graham, and his own journey, Bogumil explains how value investing evolves across three key phases—buying cheap, buying good, and learning to pay up. The conversation explores patience, conviction, dead money periods, family wealth stewardship, and how to think about value versus price in a noisy world.Topics covered:• The “cheapest dentist” analogy and why investors chase bargains• The three phases of investor evolution: cheap, good, and exceptional• Lessons from Buffett, Munger, and Graham on paying up for quality• How to hold through drawdowns and dead money periods• Why patience and conviction are the hardest investing skills• Frugality, compounding, and lessons from his grandmother• How long-term family investors think about wealth and stewardship• The difference between price and value in modern markets• How to know when cheap is too cheap and quality is worth paying for• Why great investments are often simple to explain• The story behind his Wall Street Journal essay “The Expensive Truth About Cheap Investments”Timestamps:00:00 Introduction – The cheapest dentist analogy03:00 Why investors love cheap stocks07:00 The evolution from bargain hunter to quality investor09:00 Examples from Ben Graham, Buffett, and Facebook15:30 Conviction, drawdowns, and dead money19:00 Judging success by business progress, not stock price27:00 Lessons from grandma on value and frugality31:00 How Buffett evolved from cheap to quality45:00 Investing for future generations49:00 Invisible wealth and stewardship52:00 The value investor dilemma58:00 Equal-weight vs market-cap indexes59:00 Lessons for the average investor1:02:00 How much research you really need1:04:30 How his WSJ essay came to life and final takeaways

Decision fatigue drains even high-capacity leaders. In this episode, discover how nervous system dysregulation disguises itself as urgency—and why peace-led conviction, not pressure, is the path to clarity.Decision fatigue isn't just about too many choices—it's what happens when your nervous system is braced in survival mode. High-capacity humans often mistake urgency for clarity, moving fast to keep everyone satisfied, only to end the day exhausted, second-guessing, and wondering if the choices were actually good or just quick.In this episode of The Recalibration with Julie Holly, we unpack why decision fatigue is really nervous system dysregulation in disguise—and how Identity-Level Recalibration (ILR) offers a way back to peace-led conviction. Instead of outsourcing clarity to hacks, habits, or urgency culture, ILR anchors decision-making in identity so every choice flows from who you are becoming.Julie shares her own lived story of carrying decision fatigue across family, business, and leadership—and the breakthrough that came when she stopped treating exhaustion as a personal weakness and began recalibrating at the root.We also explore the wisdom of Charlie Munger, Warren Buffett's longtime partner, who modeled calm, peace-led decision-making. From his “invert, always invert” mental model to his commitment to staying within a “circle of competence,” Munger's example shows how presence and patience create clarity that urgency never will.If you've been navigating burnout recovery, role confusion, identity drift, decision fatigue, or performance pressure, this conversation will remind you: urgency is a poor substitute for conviction.Today's Micro Recalibration: Pre-decide 3 non-negotiables that protect presence: time, tone, tempo.Ask yourself:What's one boundary around time that restores me?What's one tone I want to set — in meetings, in conversations, in family life?What's one tempo that honors my capacity, not culture's urgency?Because when you pre-decide from identity, you reduce fatigue. You already know who you are — and every decision flows from that place.If this episode gave you language you've been missing, please rate and review the show so more high-capacity humans can find it. Explore Identity-Level Recalibration→ Follow Julie Holly on LinkedIn for more recalibration insights → Schedule a conversation with Julie to see if The Recalibration is a fit for you → Download the Misalignment Audit → Subscribe to the weekly newsletter → Join the waitlist for the next Recalibration cohort This isn't therapy. This isn't coaching. This is identity recalibration — and it changes everything.

At the second BizNews Investment Conference in Hermanus, Walter Aylett, founding fund manager of Aylett & Co, outlined his investment philosophy shaped by Buffett and Munger's discipline. He shared lessons from backing WeBuyCars early, stressing patience, honesty, and owner-driven businesses. Aylett warned against over-trading, likening true investing to the tortoise beating the rabbit. He sees South Africa as “scary cheap” with opportunities in Spar, hospital groups, and bonds, while stressing margin of safety and integrity. Blending personal anecdotes with sharp observations on politics, gold, and global markets, Aylett underscored that long-term thinking and trust in the right people remain the investor's edge. This BizNews production is brought to you by Brenthurst Wealth. Building wealth and protecting legacies since 2004. Invest Better with Brenthurst: https://www.bwm.co.za/.

Send us a textAcid Breath is a 10 to 20 minute daily market monologue for investors who prefer thinking to twitching. I scan the day's U.S. economic releases like JOLTS, CPI, and payrolls, note how risk assets moved, then strip away the theater of first prints, revisions, and spurious decimals to focus on signal: liquidity, positioning, incentives, and Marshallian K. Expect dry humor, clear definitions, and Munger style aphorisms. No hype, no doom, no hot tips. Just practical perspective you can use before the noise soaks in.Support the show⬇️ Subscribe on Patreon or Substack for full episodes ⬇️https://www.patreon.com/HughHendryhttps://hughhendry.substack.comhttps://www.instagram.com/hughhendryofficialhttps://blancbleustbarts.comhttps://www.instagram.com/blancbleuofficial⭐⭐⭐⭐⭐ Leave a five star review and comment on Apple Podcasts!

At BizNews Investment Conference #2 in Hermanus, Walter Aylett – founding fund manager of Aylett & Co – delivered an inspiring reflection on the power of heroes and principles in life and investing. Drawing on decades of annual pilgrimages to Omaha to learn from Warren Buffett and Charlie Munger, Aylett shared how integrity, energy and rational common sense built a $1.3bn fund over 20 years. He credited his success not only to mentors like Buffett and Munger but also to the partners and clients who shared his long-term vision. Looking ahead to “Aylett 2.0 and 3.0,” he said the next generation, armed with principles and hard work, could make South Africa “unstoppable.” This BizNews production is brought to you by Brenthurst Wealth. Building wealth and protecting legacies since 2004. Invest Better with Brenthurst: https://www.bwm.co.za/.

David Senra is the host of the Founders podcast. For the past nine years, David has intensely studied the life and work of hundreds of history's greatest entrepreneurs. His new podcast, David Senra, showcases conversations with the best-of-the-best living founders and extreme winners.This episode is brought to you by:Cresset family office services for CEOs, founders, and entrepreneursOur Place's Titanium Always Pan® Pro using nonstick technology that's coating-free and made without PFAS, otherwise known as “Forever Chemicals”AG1 all-in-one nutritional supplementTimestamps:[00:00:00] Who is David Senra?[00:01:11] Brad Jacobs: Roll-up king and positive-driven billionaire founder.[00:02:26] Rare positive archetypes: Ed Thorp, Sol Price, Brunello Cucinelli.[00:06:04] Michael Dell as another exception; fear of failure and motivation.[00:06:47] Negative self-talk, excellence, and its ripple effects.[00:08:26] Jensen Huang story: “Why do you suck so much?”[00:08:54] Inspiration from Dan Carlin's Hardcore History.[00:10:00] Derek Sivers: unconventional, philosophical entrepreneur.[00:11:04] Learning equals behavior change, not memorization.[00:11:48] Jeremy Giffon insight: biographies as substitute mentors.[00:12:37] Reading biographies as one-sided conversations.[00:13:16] The chain of influence.[00:14:09] Podcasting as “relationships at scale.”[00:14:28] Coping with trauma and breaking cycles.[00:20:18] Note-taking process: books, Post-its, ruler, Readwise.[00:29:27] OCD tendencies and love of doing things the hard way.[00:31:04] Comparing our reading/re-reading workflows.[00:35:04] A family falling out and the randomness of student housing.[00:38:58] David's introduction to my work during his MySpace-era college years.[00:40:07] Podcasting influences: Jocko Willink, Kevin Rose's Elon Musk interview.[00:44:14] Five-and-a-half years of obscurity before breakthrough.[00:46:50] Graphtreon and experiments with subscription models.[00:49:25] Patrick O'Shaughnessy's endorsement sparks growth.[00:51:23] Sam Hinkie and Patrick connections fuel momentum.[00:52:19] Transition to ads and joining Patrick's network.[00:55:17] Edwin Land: patron saint of founders and Steve Jobs' influence.[00:57:02] Lessons from Sam Zell, Jay Pritzker, and William Zeckendorf.[00:58:48] Need a generous, well-connected person? You can't go wrong with Rick Gerson.[01:03:04] Edwin Land's philosophies: Differentiation and doing to excess.[01:04:30] Entrepreneurial archetypes and conflicting advice.[01:06:00] Daniel Ek as an alternative founder archetype and mentor.[01:10:59] Further founder archetypes and contrasts.[01:13:41] What is an anti-business billionaire?[01:19:55] Advice from “shark” Michael Ovitz about the value of truth in one's inner circle.[01:22:30] The hands-on approach of practical founders who live for the love of their business.[01:23:28] Doing one thing relentlessly.[01:23:51] “This can't be my life” as a powerful motivator.[01:26:57] Low introspection as a common trait among founders — and its implications about human nature.[01:30:15] Robert Caro: The only writer David believes should be allowed to write thousand-page biographies.[01:32:40] James Dyson's persistence vs. the risk of blind stubbornness.[01:34:22] Todd Graves (Raising Cane's) as an example of relentless focus on one idea.[01:35:41] Separating fact from fiction in biographies/histories.[01:41:55] Considering trainable vs. non-trainable attributes in potential role models.[01:46:11] Perusing Charlie Munger's library.[01:49:35] Dealmaking lessons on Eddie Lampert's superyacht.[01:55:34] The smartest person David knows.[01:56:55] David's obsessive craftsman approach to podcast creation.[01:58:51] Why David decided to begin a second podcast.[02:01:21] The economics of trust.[02:03:40] The benefits of cultivating a purposeful aloofness about current events.[02:07:11] Using the pulpit of publicity for good, not evil.[02:09:57] New show frequency/dynamic and how David plans to balance the burden of running two shows.[02:13:30] Teamwork with essence of turtle.[02:15:40] Adapting the Rockefeller “secret allies” strategy to podcasting.[02:17:56] Chris Hutchins: The mad scientist of podcasting?[02:18:30] Working with Rob Mohr and Andrew Huberman of SciComm.[02:20:54] Why David focuses on 24-hour cycles over long-term planning.[02:24:54] Does David worry the extra workload will disrupt his lifestyle?[02:30:18] What makes one potential guest more interesting to David than another?[02:34:34] Making an impact vs. happiness.[02:36:32] Playing the status game when your heart's not in it is for suckers.[02:44:23] Travel observations and the rarity of truly unique experiences.[02:46:26] Books as philosophical operating systems.[02:48:39] Parting thoughts.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

John is joined by Bethany W. Kristovich, Partner and Co-Chair of the Professional Liability Defense Group at Munger, Tolles & Olson, LLP.  They discuss some of the unique aspects of legal malpractice cases, including how often they arise from collection cases, how a plaintiff must prove not only malpractice but that without the malpractice, the case would have had a different result, the importance of expert testimony in malpractice cases, and the difficulty of mastering damages theories from both the underlying case and the malpractice action.  Bethany explains some of the worst things that can happen in a malpractice case, including the lawyer criticizing the former client so much it provokes a backlash by the jury, internal emails in which lawyers on the same team criticize each other's work, and lawyers who appear arrogant because they don't know their own rates.  Finally, Bethany explains several ways lawyers can protect themselves from malpractice claims, including making sure the client is worthy of the firm before taking their case, getting a retainer and staying current on billing and collections, creating short agendas for telephone conversations to document the topics being discussed, and including the client in all decisions about the case.Podcast Link: Law-disrupted.fmHost: John B. Quinn Producer: Alexis HydeMusic and Editing by: Alexander Rossi

In this episode of Excess Returns, we welcome back Cole Smead of Smead Capital for a wide-ranging conversation on markets, history, and the principles of value investing. Cole shares his perspectives on fiscal largesse, inflation, passive flows, energy markets, U.S. exceptionalism, and the timeless lessons of Buffett and Munger. His insights bridge economic history with today's market realities, giving investors a framework to think about risk, capital allocation, and opportunity costs.Deficits, monetary policy, and why recessions are hard to find todayInflation dynamics and lessons from the 1960s and 1970sThe U.S. government's role in markets (Intel stake, big government policies)American exceptionalism vs. global capital allocation improvementsEarnings quality and the divergence between accounting and economic profitsPassive investing flows, weak competition, and investor behaviorEnergy investing: from fracking bust to efficiency and capital disciplineComparing the AI boom with past manias and capital cyclesSmead Capital's investment process and evaluating “wonderful companies”Buffett, Munger, and the lessons of asset-light vs. capital-intensive businessesClosing insights: why returns on capital matter more than EPS or revenue00:00 – Opening quote and fiscal deficits02:00 – Debt, inflation, and recession risks08:50 – Government stake in Intel & big government era12:15 – U.S. exceptionalism and arrogance17:30 – Earnings quality erosion in U.S. businesses24:00 – Passive flows and human behavior27:30 – Opportunities in energy investing34:00 – Energy buildout vs. AI boom38:00 – Smead Capital's investment process44:00 – Lessons from Buffett and Munger51:00 – Standard closing question

Most investors think the biggest danger comes from recessions, inflation, or the Fed. But Chris Davis, a $20B fund manager mentored by Warren Buffett and Charlie Munger, says the real threat is closer to home: your own behavior.In this episode, we break down why emotions sabotage returns, how to build the patience to outlast bubbles and crashes, and the timeless principles of value investing that have guided the Davis family for three generations.You'll learn:Why all real investing is value investing and everything else is gambling.The difference between growth, value, and dangerous momentum bets.How to protect your wealth from yourself by building discipline and systems.Lessons from Buffett and Munger on patience, resilience, and compounding.Whether you're a seasoned trader or just starting out, this episode will change how you think about risk and show you why mastering behavior is the ultimate edge.Want to support Global Value? https://www.interactivebrokers.com/mkt/?src=gvp1&url=%2Fen%2Fwhyib%2Foverview.phphttps://www.patreon.com/GlobalValueThank you for watching. ❤️ Please support the channel by checking out our affiliates. All commissions are reinvested to improve the quality of videos!- TIKR is the website I use for financial data in my videos. Join me and 250,000+ investors worldwide by using TIKR in your investment analysis. Referral link - https://www.tikr.com/globalvalue- Check out Seeking Alpha Premium and score an exclusive 20% off plus a free 7 day trial! Affiliate link - https://www.sahg6dtr.com/H4BHRJ/R74QP/- Try Sharesight https://www.sharesight.com/globalvalue (remember you get 4 months free if you sign up for an annual subscription!)

Hosted by David Cowen | Presented by Steno Live at ILTACON 2025, in this candid conversation, Shannon Bales, Litigation Support Senior Manager at Munger, Tolles & Olson, shares how he's preparing his team for the AI-driven future, by turning ticket-takers into consultants. From tools like ChatGPT, Copilot, Harvey, and Claude, to the foundational skills that matter most (language, curiosity, and communication), Shannon talks shop about what it really takes to lead through change in today's legal tech landscape. If you manage teams, advise on tools, or just want to sharpen your edge, this one's for you. Key Topics Covered: Why Shannon trains his team to be consultants, not just executors ChatGPT, Claude, Copilot, Harvey, when to use what, and why Why there's no one AI winner (yet) and what due diligence really means From curiosity to clarity: why communication is the real AI skill How GenAI shifts the legal conversation and why workflows must follow Why legal tech leadership today means being agile, patient, and connected Shannon's weekend writing practice and why he's documenting GenAI's foundation for legal This Episode is presented by Steno: Smarter transcripts. Faster delivery. Built for modern legal teams.

In this episode, William Green chats with Robert Hagstrom, Chief Investment Officer & Senior Portfolio Manager at Equity Compass. Robert is the author of a classic book, “The Warren Buffett Way,” which lays out the principles that made Buffett the greatest investor of all. Here, Robert shares life-changing lessons he learned from Buffett & two other icons: Charlie Munger & Bill Miller. He also explains why a focused, low-turnover portfolio is a brilliant but difficult strategy. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 04:39 - How Robert Hagstrom became a multidisciplinary thinker. 08:09 - How to think better & invest better by tuning out the noise. 26:01 - What mistake Warren Buffett made most frequently. 35:30 - Why AI falls short when it comes to investment decisions. 35:30 - Why Nvidia is Robert's biggest holding. 01:04:49 - How Miller endured & recovered from a devastating mistake. 01:14:43 - What insights led Bill Miller to make billions in Amazon & Bitcoin. 01:32:04 - Why it's smart but really hard to own a concentrated portfolio. 01:34:29 - Why Robert views Modern Portfolio Theory with disdain. 01:42:23 - What advice Robert received from investing giant Bill Ruane. 01:48:06 - Why you should be deeply wary of investing in private equity. 02:04:04 - What life lesson Robert has learned from Buffett. 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. Robert Hagstrom's investment firm, Equity Compass Investment Management. Robert Hagstrom's books: The Warren Buffett Way, The Warren Buffett Portfolio, Investing: The Last Liberal Art. Mortimer Adler's How to Read a Book. Louis Menand's The Metaphysical Club. William Green's podcast interview with Bill Miller. William Green's podcast interview with Bill Nygren. 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. SPONSORSSupport our free podcast by supporting our sponsors: SimpleMining HardBlock AnchorWatch Human Rights Foundation Cape Unchained Vanta Shopify Onramp Abundant Mines 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://theinvestorspodcastnetwork.supportingcast.fm⁠⁠⁠ Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm 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

This Day in Legal History: Japanese PM Convicted of Accepting BribesOn August 12, 1983, former Japanese Prime Minister Tanaka Kakuei was convicted of accepting bribes from the American defense contractor Lockheed Corporation in one of Japan's most notorious political scandals. Tanaka, who served as prime minister from 1972 to 1974, was found guilty of taking approximately $2 million in illicit payments to facilitate the purchase of Lockheed aircraft by Japanese airlines. The scandal, part of a broader international investigation into Lockheed's bribery of foreign officials, became emblematic of the deep entanglement between corporate influence and political decision-making in postwar Japan.Tanaka's conviction marked the culmination of years of investigation, during which he retained significant political clout despite resigning as prime minister in 1974 amid allegations. His sentence included four years in prison and a fine, though he remained free on appeal for years thereafter. The Lockheed scandal not only damaged public trust in Japan's political establishment but also exposed vulnerabilities in the country's campaign finance and lobbying regulations.Tanaka's political machine, known as the “Etsuzankai,” was legendary for its ability to secure votes and wield influence through personal networks, favors, and targeted public works projects. Even after his resignation and conviction, Tanaka's allies dominated Japanese politics for much of the 1980s, demonstrating the persistence of patronage systems despite corruption scandals.Internationally, the case was a warning shot to defense contractors and multinational corporations about the legal risks of engaging in covert payments to secure contracts. For Japan, it became a touchstone in ongoing debates about transparency, accountability, and the need for stronger anti-corruption laws. Tanaka, often called “the paragon of postwar corruption,” remained a polarizing figure—admired by some for his populist economic policies and condemned by others for his abuse of public office.Federal prosecutors in Maryland have expanded their case against SCOTUSblog co-founder Tom Goldstein, alleging he used his law firm's client trust account in 2021 to hide nearly $1 million from the IRS before purchasing a home. The revised indictment, filed August 8, claims Goldstein moved personal funds into his firm's Interest on Lawyers' Trust Account to avoid tax collection. It also adds details about earlier allegations that he misrepresented the source of $968,000 seized from him in 2018—telling a border officer it was gambling winnings, then later claiming to the IRS it was a loan, including from a foreign gambler.Prosecutors further allege Goldstein misled a litigation funder while seeking help with tax debts and a mortgage, and tried to dissuade a former firm manager from cooperating with investigators. The updated charges correct some dates, moving one alleged diversion of client fees from 2021 to 2020, and expand the time frame for certain tax evasion counts to include conduct through March 2021. These changes follow Goldstein's motion to dismiss several counts as time-barred.While the client trust account allegation is new, no new counts were added. Goldstein still faces four counts of tax evasion, ten counts of assisting false tax returns, five counts of willful failure to pay taxes, and three counts of false statements on loan applications. He is represented by Munger, Tolles & Olson LLP in United States v. Goldstein.SCOTUSblog's Goldstein Facing New Allegations in Criminal CaseThe American Bar Association's (ABA) policymaking body has passed a resolution opposing government actions that punish lawyers, firms, or organizations for representing clients or causes the government dislikes. This move comes amid heightened tensions between the ABA and the Trump administration, which has restricted DOJ attorneys from attending ABA events, reduced the ABA's role in vetting judicial nominees, and threatened its authority to accredit law schools.The resolution warns that the rule of law is endangered if lawyers or judges face retaliation for doing their jobs. It also denounces threats to impeach judges solely for their rulings. The ABA has an active lawsuit against the administration, alleging a coordinated campaign of intimidation against major law firms—claims the DOJ has asked a court to dismiss, arguing the ABA lacks standing and evidence of harm.Trump has issued executive orders targeting firms over past clients and hires, prompting some firms to agree to provide nearly $1 billion in free legal services to avoid further action. Others have sued successfully to block orders that revoked security clearances and restricted access to government work. The ABA contends these tactics have discouraged public interest legal work and harmed the ability of vulnerable clients to secure representation.American Bar Association adopts resolution against Trump's law firm crackdown | ReutersTaft, Stettinius & Hollister announced it will merge with Atlanta-based Morris, Manning & Martin on Dec. 31, creating a firm with more than 1,200 lawyers across 25 offices and projected revenues exceeding $1 billion. The deal will add 100 attorneys to Taft's roster and give the Cincinnati-founded firm its first Atlanta office. Taft's chair Robert Hicks described the move as part of a broader plan to become a “national middle-market super firm” and said the firm is eyeing future expansions into New York and Texas.Partners at both firms unanimously approved the merger. Morris Manning's managing partner, Simon Malko, emphasized that the combination was not driven by necessity, despite the firm recently losing lawyers to Reed Smith and Bradley Arant. Merger talks began in February, with both firms anticipating strong performance in 2025.This marks Taft's third merger of the year, following combinations with Denver-based Sherman & Howard in January and Florida litigation firm Mrachek Law in June. It also continues a wave of large law firm consolidations, including recent deals involving McDermott Will & Emery, Schulte Roth & Zabel, Kramer Levin, Herbert Smith Freehills, Shearman & Sterling, and Allen & Overy.Latest US legal industry merger to create $1 billion firm | ReutersThe Congressional Budget Office estimates that President Donald Trump's recently enacted tax and spending law will leave 10 million more Americans uninsured over the next decade. The July law, passed without Democratic support, extends earlier Trump-era tax cuts, adds temporary tax breaks, and increases certain spending, but offsets the cost by imposing new restrictions and eligibility requirements on Medicaid. Democrats criticized the measure as benefiting the wealthy at the expense of low-income households.According to the CBO, the poorest Americans will see annual incomes drop by about $1,200 due to combined tax and benefit changes, while middle-income households will gain $800 to $1,200, and the wealthiest will see increases exceeding $13,000. The agency noted these changes will disproportionately reduce resources for households at the lower end of the income spectrum while boosting those in the middle and upper tiers.10 million Americans will go uninsured due to Trump tax and spend law, CBO estimates | ReutersAnd in my column this week: Washington, DC is close to approving a $4.4 billion public financing package to bring the Washington Commanders back to the Robert F. Kennedy Memorial Stadium site, framing it as an investment in affordable housing and equity. Critics argue it's a familiar tax-subsidized stadium deal that guarantees a new stadium by 2030 but leaves housing delivery vague and far in the future. The legislation secures decades of tax breaks, infrastructure bonds, and zoning exemptions for the team, yet affordable housing commitments are relegated to non-binding promises in a separate term sheet. Official projections suggest 6,000 housing units, with 30% affordable, but without enforceable deadlines, construction could lag until 2040—or never materialize.Job creation claims are similarly underwhelming: 16,000 positions are projected, but 14,000 are temporary construction jobs, leaving only about 2,000 permanent roles for the $4.4 billion investment. The land involved—180 acres of public property—could instead be used for community-led development, housing trusts, or co-ops with built-in affordability requirements. Critics note that the public is bearing all the legal obligations while promised benefits remain aspirational. If the housing isn't built, the Commanders would only face paying rent on undeveloped parcels, a minimal penalty. Alternative proposals include redirecting funds currently used to pay off Nationals Park bonds toward a housing bond program, which could deliver thousands of affordable units sooner. Advocates argue any stadium approval should include firm, enforceable housing delivery benchmarks and penalties for missed deadlines to ensure public benefits aren't indefinitely deferred.One notable legal element here is the absence of binding contractual obligations for affordable housing delivery—a gap that leaves the city with limited legal recourse if the housing targets are missed, despite billions in guaranteed public subsidies. This matters because it highlights how legislative structure can predetermine the enforceability—or lack thereof—of development promises.Commanders Stadium Deal's Housing and Job Promises Are a Facade This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

In this episode of Excess Returns, we're joined by Kai Wu of Sparkline Capital to explore one of the most important and overlooked aspects of Warren Buffett's investing evolution: his shift from tangible to intangible value. Based on Kai's research paper “Buffett's Intangible Moats,” we examine how Buffett's portfolio has evolved alongside the economy — and why the intangible drivers of brand equity, intellectual property, human capital, and network effects are central to understanding his success. Kai also shares how quantitative methods can be used to replicate Buffett's approach and what this means for investors today.Topics Covered:The three eras of Buffett's portfolio evolution: industrial, consumer, and information ageWhy Buffett's shift away from deep value investing began earlier than most realizeHow Charlie Munger helped change Buffett's approach — and why that matteredBuffett's preference for intangible assets like brand, IP, and network effectsHow to quantify intangible value and its four key componentsSurprising stats: Buffett rarely buys below book value and holds high price-to-book stocksKai's framework for building an intangible value score across stocksFactor attribution: quality and intangible value explain most of Buffett's alphaThe impact of portfolio size, sector biases, and evolution of circle of competenceHow to replicate Buffett's approach using a systematic, factor-based strategyWhy intangible value may be the "quality of tomorrow" and a forward-looking moatTimestamps:00:00 – Buffett's evolution from value to intangible investor01:55 – Why Kai researched Buffett's investing style now04:00 – The three eras of Buffett: Geico, Coca-Cola, Apple08:15 – How Buffett's thinking changed under Munger's influence10:00 – The rise of intangible moats and Buffett's definition of economic goodwill13:10 – Four components of intangible value15:10 – Mapping Buffett's holdings to intangible assets over time17:30 – Does Buffett get enough credit for evolving?20:30 – Only 8% of his holdings were bought below book value24:00 – Average price-to-book of Buffett's portfolio is 826:00 – Defining Kai's intangible value factor27:50 – Buffett becomes a value investor again — just using a different metric30:00 – Circle of competence vs. expanding opportunity set33:00 – Today's portfolio is 75% intangible by Kai's framework34:45 – Decomposing Buffett's returns into factors38:00 – Quality and intangible value explain 90% of Buffett's alpha43:15 – Sector exposure vs. true value tilt49:00 – Intangible value as a leading indicator of quality52:00 – Building a Buffett-style quant portfolio using two key factors54:00 – Why Buffett's future returns may be more muted

[Join our community at my Substack where we continue these conversations with deeper dives into the biggest lessons from each episode, plus my regular essays and behind-the-scenes thoughts: https://bogumilbaranowski.substack.com/]Today's guest: Monsoon Pabrai is the managing partner of Drew Investment Management, who combines generational wisdom from legendary investors like her father, Mohnish Pabrai, Charlie Munger, and Guy Spier, with her own distinctive approach to global value investing, particularly in India's emerging markets.EPISODE NOTES3:00 - Childhood shaped by entrepreneurship over money talk; Chipotle visits became business lessons on cost optimization and operational efficiency6:00 - At age 12, attended legendary Warren Buffett lunch with Guy Spier; Buffett's advice: "most important decision is who you marry"9:00 - Learning temperament from father during 9+ years without collecting fees; "I've never seen him have a bad day at all"12:00 - KEY INSIGHT: American Express COVID opportunity - when travel stopped, 60 cents per dollar usually spent on customer retention became massive float for capital allocation15:00 - March 2020 market crash: colleagues broke emotionally, sold at bottom despite decades of experience18:00 - Guy Spier as "uncle figure" - long-term compounder philosophy of buying quality and never selling27:00 - Investment process: random idea generation through travel, conferences, Value Line screening, then rigorous 4-part analysis framework35:00 - Four investment criteria: 1) Good business quality 2) Margin of safety 3) Capital allocation 4) Alignment of interests (crucial for emerging markets)42:00 - AI revolution transforming research speed: "NotebookLM can read a 10K faster than me"47:00 - India investing: 60-70% of 3,000+ listed companies "untouchable" due to fraud risk, but incredible opportunities exist with proper network53:00 - Dakshana foundation: educating underprivileged students for IIT entrance (1.3% acceptance rate); "most motivating people I've ever met"Podcast 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 today's episode, Kyle Grieve discusses Charlie Munger's legendary speech, The Psychology of Human Misjudgment, and unpacks all 25 of his cognitive biases that often lead even the most intelligent people to make poor decisions. Drawing from Poor Charlie's Almanack, Kyle explores how these psychological tendencies—like incentive-caused bias, social proof, and inconsistency avoidance—can distort our thinking in business, investing, and everyday life. He blends Munger's timeless wisdom with real-world investing examples, personal experiences, and practical strategies to help listeners make better, more rational decisions. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 03:02 - Why incentives quietly override moral behavior. 06:32 - Why liking and disliking an investing thesis can distort reality. 09:54 - Why doubt avoidance cause investors to take significant risks in things like IPOs. 12:07 - How inconsistency avoidance causes a lazy creep into our thinking processes. 24:38 - How to avoid the destructive effects of reciprocation. 32:49 - The dangers of overestimating our abilities. 37:44 - Why jumping off a sinking ship beats trying to patch it up. 45:58 - Why contrasting stock prices in exuberant markets evaporates margins of safety. 59:41 - Why investors should choose simplicity > complexity. 01:01:43 - Why you should search for Lollapalooza effects in business. 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 a copy of Poor Charlie's Almanack here. Read about Charlie's Psychology of Human Misjudgement here. Watch Charlie's presentation on The Psychology of Human Misjudgement 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 ⁠Onramp⁠ ⁠Human Rights Foundation⁠ ⁠Unchained⁠ ⁠Intuit⁠ ⁠Shopify⁠ ⁠Vanta⁠ ⁠reMarkable 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://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

Send us a textMiddlemen are not parasites but essential "engineers of exchange" who create value by connecting buyers and sellers who might never find each other otherwise.• The word "monger" (and Munger) comes from a Saxon root--Mancgere-- meaning trader or merchant• Middlemen historically seen as parasites for buying cheap and selling dear without improving products• 11th-century "mancgere" traders defended their value despite not changing the goods they sold• RA Radford's 1945 POW camp study shows how middlemen increase beneficial exchanges• The prison camp padre who traded his way to wealth, while making everyone else better off!!• Arbitrage improves market efficiency by exploiting price differences, and reducing differences in price so that people can rely on the price they are offered rather than having to bargain or comparison shop. • Middlemen only become problematic when they control exclusive information or "rents"The first "middleman" episode of TAITC:  May 2023....R.A. Radford, "The Economics of a POW Camp." M.C. Munger, "Market Makers or Parasites."Book'o'da'week: Country Music USA by Bill C. Malone, published by University of Texas Press.Bonus: a great example of a middleman, from a listener in Oz!If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

Hi there! Feel free to drop us a text if you enjoy the episode.In this episode of the New England Endurance Podcast, host Art Trapotsis sits down with George Munger, the director the Tufts University rowing program and men's head coach, to explore what makes Tufts one of the most successful and admired rowing teams in the country.George shares his personal journey into the sport and offers a behind-the-scenes look at how Tufts Rowing has evolved into a championship-caliber program. From multiple national titles on both the men's and women's teams (head coach, Lily Siddall) to coaching accolades to groundbreaking use of technology and community outreach, this conversation dives into the core philosophies and practices that set Tufts apart.Listeners will learn about:* The long-term effort behind Tufts' recent dominance on the water as DIII national champs* Recruiting insights: How Tufts prioritizes athlete enthusiasm and love for movement in recruiting* The integration of strength training to prevent injury and boost performance* Innovative use of technology, like the Peach system, for real-time performance feedback* How the team strategically peaks for major races and balances data with intuition in crew selection* Meaningful community engagement, including environmental efforts like Malden River cleanups* George's goals for the future—including building a deeper team culture and increasing alumni involvementWhether you're a rower, coach, or endurance athlete looking for insights into elite team building, this episode is full of lessons from one of the top minds in the sport.Art & Eric embark on a journey to showcase and celebrate the endurance sports community in New England.

Jason and Jeff welcome Alex Morris, a second-time guest and author of 'Buffett and Munger Unscripted.' The trio discusses the significance of Berkshire Hathaway meetings and the making of Alex's book. They delve into Warren Buffett's and Charlie Munger's investment philosophies, the evolution of their strategies, and how individual investors might apply these lessons. 01:03 Introducing the Guest: Alex Morris02:05 Discussing Alex's Book: Buffett and Munger Unscripted06:07 Insights on Berkshire Hathaway and Investing09:52 Buffett and Munger's Investment Philosophy14:29 Personal Reflections on Investing20:15 The Future of Berkshire Hathaway23:21 The Challenge of Excess Cash24:37 Buffett's Cash Philosophy25:33 Future of Berkshire's Capital Allocation36:23 The Influence of Buffett and MungerCompanies mentioned: AAPL, BRK.B, KO, MRKL*****************************************Join our PatreonSubscribe to our portfolio on Savvy Trader *****************************************Email: investingunscripted@gmail.comTwitter: @InvestingPodCheck out our YouTube channel for more content: ******************************************To get 15% off any paid plan at finchat.io, visit https://finchat.io/unscripted******************************************Listen to the Chit Chat Stocks Podcast for discussions on stocks, financial markets, super investors, and more. Follow the show on Spotify, Apple Podcasts, or YouTube******************************************2025 Portfolio Contest2024 Portfolio Contest2023 Portfolio Contest

What strategies can legal marketers use to coach attorneys to adopt a client-centric mindset and offer actionable advice that nurtures long-term relationships? During this episode of the LMA Podcast, our guests dive into effective techniques for business development coaching both new and skeptical attorneys, while sharing their personal experiences and the lessons they've learned along the way. They'll discuss how they integrate key business development trust points into their daily routines, enhancing their ability to guide lawyers towards successful business development practices. Tune in to learn how these strategies can be implemented to transform the attorney-client relationship and drive sustained growth. Speakers: Jennifer Ramsey, Co-founder and Principal, Stage LLC Megan Senese, Co-founder and Principal, Stage LLC Shannon Tatro, Associate Director of Business Development, Munger, Tolles & Olson Megan Senese is co-founder and principal of Stage LLC. After six years of working with Jennifer Ramsey, they took the leap to launch their own legal marketing and business development company. Active in LMA, Megan co-chairs the New York Small Firm Shared Interest Group (SIG). Together with Jen, she co-hosts a podcast called “So Much to Say: A Legal Podcast for People,” bringing candid and human conversations to the legal world. Jennifer Ramsey is co-founder and principal of Stage LLC. After six years of working with Megan Senese, they took the leap to launch their own legal marketing and business development company. Active in LMA, Jen is program chair for the Southern California Local Steering Committee. Together with Megan, she co-hosts a podcast called “So Much to Say: A Legal Podcast for People,” bringing candid and human conversations to the legal world. In her current role as associate director of business development at Munger, Tolles & Olson, Shannon Tatro is a key driver of the firm's business development efforts and leader of specific client development initiatives, where she utilizes insights gained through 25+ years in client service roles to provide guidance with the client experience in mind. She enjoys mentoring the next generation of legal marketing professionals and currently serves as Co-Chair of LMA's Client Value SIG.

In this podcast episode, Dr. Jonathan H. Westover talks with Robb Munger about sustainable community revitalization projects. Robb Munger, founder of Exodus Place, champions transitional housing for homeless men. With a background in finance, where he established a leading financial company in manufactured housing, Munger's journey took a pivotal turn when he joined the board of Guiding Light Mission. There, he propelled a struggling rescue mission into prominence and transformed a former state corrections facility into Michigan's largest non-governmental transitional housing, offering new beginnings to those in need. Check out all of the podcasts in the HCI Podcast Network!

What if AI could think like a legal professional—breaking down complex tasks, making decisions, and even taking action autonomously? In this sneak peek of ILTA's Just-In-Time Roundtable Encore to Evolve: Agentic AI and the Possibilities for Legal, industry expertsndive into the game-changing potential of Agentic AI—where AI evolves from a chatbot to a proactive teammate.  Spoiler: The billable hour might never be the same. Moderator:   Josh Lazar, Founder and CEO, TechThinkTank LLC  Speakers:  Reanna Martinez, Director of Innovation, Systems, and Data, Munger, Tolles & Olson LLP  Sara Miro, Director of Knowledge Solutions, Sullivan & Cromwell LLP Rob Saccone, Chief Technology Officer, Lega Inc.

Quanto tempo dura uma sociedade de sucesso? Algumas pessoas acreditam em parceria para vida toda.. até que a morte os separe. Esse devia ser o caso de Charlie Munger, amigo e sócio do mega investidor warren Buffett de anos! Os dois trabalharam juntos por 45 anos - e a sociedade só acabou com o falecimento de Charlie, que morreu em novembro de 2023, em um hospital na Califórnia, aos 99 anos. Por essas razões, o Charlie Munger é o tema do episódio de hoje do Do Zero ao Topo - Personalidades, a nossa edição que conta as histórias dos grandes inovadores. Para saber mais da história de Charlie Munger, acesse: https://www.infomoney.com.br/perfil/charlie-munger/

Send us a textTransaction costs are the friction in the gears of society, but the worst transaction costs are the ones that reflect government failure. You can see it in ever cliche about government, from the dreaded DMV lines to the passport control bottleneck. Drawing on Milton Friedman's "Barking Cats" essay from 1973, I explore why bureaucracy remains fundamentally immune to reform efforts, regardless of which political party holds power.The frustrating reality is that bureaucracies operate with completely different incentives than private businesses. While companies balance money costs against convenience to attract customers, government agencies focus solely on their budgets while taxing citizens with enormous "trouble costs." North Carolina's DMV perfectly illustrates this dysfunction—appointments require six-month waits while the state proudly touts its budget savings. Most maddening is that these aren't even genuine services, but rather artificial permission requirements the government imposes before allowing us to live our lives.This represents a textbook government failure—what economists call a Pareto inferior outcome. Most citizens would gladly pay slightly more in fees or taxes to avoid wasting hours (or months) of their lives in bureaucratic purgatory. That additional revenue could easily fund more staff and faster service. Yet the system has no mechanism to capture these preferences or respond to them.The problem isn't partisan, and it can't be fixed by shuffling leadership or staff. As Chris Rock might say about bureaucracy—"that tiger ain't go crazy, that tiger went tiger." Bureaucracy simply acts according to its nature. Reformers who believe they can fundamentally change how these institutions function are like people who want cats that bark—they fundamentally misunderstand the beast they're dealing with.Listen in for insights on why bureaucratic inefficiency persists despite our best efforts, complete with revealing (but not really funny) quotes from political thinkers ranging from Schumpeter to Trotsky. Have your own bureaucratic horror story to share? Let me know in the comments or on social media.Links:Friedman article 1973Keech and Munger article 2015Chris Rock, "Tiger!"Parkinson's LawMichael Munger: The "Trouble Tax"If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz

This week, we're rewinding to one of our most loved convos ever—with Richer, Wiser, Happier author William Green.William spent 25+ years interviewing the greatest investors alive—Buffett, Munger, Howard Marks, Joel Greenblatt—and distills their wisdom into a blueprint for life, not just investing.In this deep dive, we talk about:The habits of resilient investorsWhy avoiding "the death line" matters more than chasing alphaHow great investors think probabilistically and live better lives because of itThis isn't just about markets—it's about mastering decisions, uncertainty, and your own temperament. One of our all-time favorites.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.

Cornell Winston, president of the American Association of Law Libraries, brings a unique perspective to law librarianship, having spent 45 years in libraries across diverse settings — from a hospital library where he started as a student worker; to the former Whittier Law School; to prominent law firms Munger, Tolles & Olson and Orrick, Herrington & Sutcliffe; and, for the last 24 years, as law librarian in the U.S. Attorney's office in Los Angeles. Winston joined host Bob Ambrogi to record this interview just weeks before AALL's annual meeting in Portland, Ore., July 19-22, with the theme "Be Bold." It's a fitting theme for a profession that's undergone dramatic transformation, evolving from traditional book-focused roles to becoming essential gatekeepers and evaluators of legal technology and information. In their conversation, Winston discusses the evolving challenges facing law librarians — from safeguarding disappearing government information to testing AI-driven legal research tools. They explore why he considers it critical for law librarians to have "a seat at the table" in their organizations, the opportunities for newcomers to the profession, and why Winston believes the profession's future remains bright despite predictions of its demise. Winston also shares insights on AI adoption, the importance of law librarians as strategic partners rather than just support staff, and how the profession continues to prove that while Google may find you a million answers, a librarian will find you the best one.    Thank You To Our Sponsors This episode of LawNext is generously made possible by our sponsors. We appreciate their support and hope you will check them out. Paradigm, home to the practice management platforms PracticePanther, Bill4Time, MerusCase and LollyLaw; the e-payments platform Headnote; and the legal accounting software TrustBooks. Briefpoint, eliminating routine discovery response and request drafting tasks so you can focus on drafting what matters (or just make it home for dinner). SpeakWrite: Save time with fast, human-powered legal transcription—so you can focus on your practice   If you enjoy listening to LawNext, please leave us a review wherever you listen to podcasts.  

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

In this episode, Clay dives into Buffett and Munger Unscripted by Alex Morris. This book is a treasure trove of timeless investing wisdom from decades of Berkshire Hathaway annual meetings.  The episode highlights Warren and Charlie's most powerful lessons on capital allocation, business quality, temperament, and how to achieve long-term investing success. Whether you're a lifelong Buffett fan or just stepping into the world of value investing, this episode is packed with insights you won't want to miss. IN THIS EPISODE YOU'LL LEARN: 00:00 - Intro 01:48 - Why Buffett and Munger believe there's no such thing as non-value investment. 07:45 - Why Buffett avoids complex financial models and sticks to common sense. 08:05 - The traits that define a truly great business—and why those are so rare. 14:57 - How capital allocation drives long-term shareholder value and Berkshire's success. 24:29 - How Buffett thinks about share buybacks and dividends. 26:27 - The importance of understanding and trusting management and company culture. 38:53 - Why most of Berkshire's success came from just a handful of decisions. 49:48 - How Buffett and Munger handle market volatility and avoid emotional decisions. 56:26 - The role of temperament in investing and why intelligence alone isn't enough. 58:15 - Why short selling rarely works and why index funds are still a powerful tool. 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. Alex Morris' book: Buffett & Munger Unscripted. Alex's research service: The Science of Hitting. Book mentioned: The Essays of Warren Buffett. Mentioned Episode: TIP697: The Secret to Buffett's Business Success w/ Lawrence Cunningham. Mentioned Episode: TIP550: Masterclass w/ Mohnish Pabrai. Mentioned Episode: TIP693: The Power Law w/ Clay Finck. Mentioned Episode: TIP626: Intelligent & Rational Long-Term Investing w/ Francois Rochon. Mentioned Episode: TIP620: The Intelligent Investor by Benjamin Graham. Follow Alex on X and LinkedIn.  Follow Clay on ⁠LinkedIn⁠ & ⁠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 AnchorWatch Found DeleteMe Fundrise Vanta The Bitcoin Way 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://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

“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.

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)

In this episode, William Green chats with Christopher Begg, an exceptional hedge fund manager who is the CEO & CIO of East Coast Asset Management. Chris has also taught for many years at Columbia Business School, where he teaches the prestigious Security Analysis course that Warren Buffett took with Ben Graham in 1951. Here, Chris discusses how to stay calm amid market turmoil; how he identifies great businesses; why Tesla could deliver extraordinary long-term returns; & how he builds a balanced life in 7 key areas. IN THIS EPISODE YOU'LL LEARN: 03:54 - How Christopher Begg handles extreme market turmoil. 04:07 - Why he loves volatility & how he exploits it.  06:27 - What 3 qualities he seeks when identifying an exceptional business.  18:19 - Why temperament is the key to investment success.  28:06 - How Perimeter Solutions embodies what he looks for in a stock. 31:49 - How value investing has evolved to what he calls “Value 3.0.” 42:15 - Why Tesla could deliver “extraordinary” returns over many years.  42:15 - What he thinks of Elon Musk.  01:11:13 - Why the secret of success is “persistent incremental progress.” 01:13:48 - How a 66-day challenge helped Chris to nurture good habits. 01:26:06 - How Buffett & Munger won the investing game with “class & virtue.” 01:34:18 - How to design a balanced, joyful, & spacious life.  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. Chris Begg's investment firm, East Coast Asset Management. Marcel Proust's In Search of Lost Time. Tanya Luhrmann's How God Becomes Real. Maurice Merleau-Ponty's Phenomenology of Perception. Douglas Adams' The Hitchhiker's Guide to the Galaxy. Richard Bach's Jonathan Livingston Seagull. James Carse's Finite & Infinite Games. David Whyte's Consolations & Consolations II. Madeleine Green's song discussed by William & Chris. 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 Found AnchorWatch DeleteMe Fundrise CFI Education Indeed Vanta Shopify The Bitcoin Way Onramp 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://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