Podcast appearances and mentions of tren griffin

What I learned from reading The House of Arnault by Brad Stone and Angelina Rascouet. ----Founders Notes gives you the superpower to learn from history's greatest entrepreneurs on demand. You can search all my notes and highlights from every book I've ever read for the podcast. Get access to Founders Notes here. ----Build relationships with other founders, investors, and executives at a Founders Event----(3:00) While other politicians were content to get their information from a scattering of newspapers, he devoured whole shelves.  — Young Titan: The Making of Winston Churchill by Michael Shelden. (Founders #320)(7:00) Arnault had understood before anyone else that it was a true industry. — The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai. (Founders #296)(9:00) Arnault is an iron fist in an iron glove. — The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai.The public conception of Sam as a good ol' country boy wearing a soft velvet glove misses the fact that there's an iron fist within. —  Sam Walton: The Inside Story of America's Richest Man by Vance Trimble.(12:00) People often ask me, “When are you going to retire?” And I answer, “Retire from what?” I've never worked a day in my life. Everything I've done has been because I've loved doing it, because it was enthralling. — Am I Being Too Subtle?: Straight Talk From a Business Rebel by Sam Zell. (Founders #269)(16:00) “I am not interested in managing a clothing factory. What you need, and I would like to run, is a craftsman's workshop, in which we would recruit the very best people in the trade, to reestablish in Paris a salon for the greatest luxury and the highest standards of workmanship. It will cost a great deal of money and entail much risk.” — Christian Dior to Marcel Boussac(17:00) Arnault believed that luxury brands could be larger than anyone at the time imagined.(20:00) Arnault said this 35 years ago: “My ten-year objective is that LVMH's leading position in the world be further strengthened in the luxury goods sector. I believe that there will be fewer and fewer brand names capable of retaining a worldwide presence and that those of our group will be among them as we will provide them with the means for growth.”(25:00) There are huge advantages for the early birds. When you're an early bird, there's a model that I call surfing—when a surfer gets up and catches the wave and just stays there, he can go a long, long time. But if he gets off the wave, he becomes mired in shallows. But people get long runs when they're right on the edge of the wave, whether it's Microsoft or Intel or all kinds of people, including National Cash Register. Surfing is a very powerful model.”  —  the NEW Poor Charlie's Almanack: The Wit and Wisdom of Charlie Munger. (Founders #329)(25:00) One thing I learned from having dinner with Charlie was the importance of getting into a great business and STAYING in it. There's a tendency in human nature to mess up a good thing because of an inability to sit still.(25:00) The incredible career of Les Schwab: Les Schwab Pride In Performance: Keep It Going! by Les Schwab. (Founders #330)(30:00) Dior in his autobiography: It is widely, and quite erroneously, believed that when the house of Christian Dior was launched, enormous sums were spent on publicity: on the contrary in our first modest budget not a single penny was allotted to it. I trusted to the quality of my dresses to get Christian Dior talked about. Moreover, the relative secrecy in which I chose to work aroused a positive whispering campaign, which was excellent (free) propaganda. Gossip, malicious rumours even, are worth more than the most expensive publicity campaign in the world.(31:00) Munger: “There are actually businesses that you will find a few times in a lifetime, where any manager could raise the return enormously just by raising prices-and yet they haven't done it. So they have huge untapped pricing power that they're not using. That is the ultimate no-brainer. Disney found that it could raise those prices a lot and the attendance stayed right up. So a lot of the great record of Eisner and Wells came from just raising prices at Disneyland and Disneyworld and through video cassette sales of classic animated movies. At Berkshire Hathaway, Warren and I raised the prices of See's candy a little faster than others might have. And, of course, we invested in Coca-Cola-which had some untapped pricing power.”— Charlie Munger: The Complete Investor by Tren Griffin(33:00) The benefits Arnault receives from owning commercial real estate: He makes money from his own stores, from leasing space to rivals—and from the appreciation of premium real estate. When LVMH buys a building, it takes the best storefronts for its own brands and often asks rivals to move out when their leases expire.(35:00) Arnault is all about details. He has 200,000 employees and he's paying attention to details about landscaping in the Miami Design District.(36:00) If we lose the detail, we lose everything. — Disney's Land: Walt Disney and the Invention of the Amusement Park That Changed the World by Richard Snow. (Founders #347)----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Billy Robins lives in San Francisco and is a 20 year plus veteran of Silicon Valley.  Currently he is building out Business Development & Partnerships for Jellyfish.co; previously Billy did the same role at Productboard and worked at Zendesk, Wells Fargo and PayNearMe.  When not training in Golden Gate Park or catching live music, he's most likely to be hanging out with family and friends.   You can connect with Billy Robins at https://www.linkedin.com/in/billyrobins/ This episode is sponsored by Netsuite -- learn more at netsuite.com/scale Show notes: Two essays by Billy: https://open.substack.com/pub/akashbajwa/p/the-channel-is-a-chapter-in-the-book?r=iyfy&utm_campaign=post&utm_medium=web https://open.substack.com/pub/shomik/p/how-to-sell-in-a-tough-macro-environment?r=iyfy&utm_medium=ios&utm_campaign=post And the Proprietary distribution that was mentioned in conversation - Tren Griffin  https://25iq.com/2018/06/02/proprietary-product-distribution-is-better-than-sliced-bread/amp/ --- Support this podcast: https://podcasters.spotify.com/pod/show/uncharted1/support

Founders ✓ Claim Intro Check Out the Founders Episode Page and Show NotesRead the full notes @ podcastnotes.orgReflections from my dinner with Charlie Munger.Order the new updated version of Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. MungerCharlie Munger episodes:#295 I had dinner with Charlie Munger#286 Warren Buffett and Charlie Munger All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. #221 Charlie Munger Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe.#90 Charlie Munger Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger#79 Charlie Munger Charlie Munger: The Complete Investor by Tren Griffin#78 Charlie Munger Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway's Vice Chairman on Life, Business, and the Pursuit of Wealth With Commentary by David Clark ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----

Founders ✓ Claim Intro Check Out the Founders Episode Page and Show NotesRead the full notes @ podcastnotes.orgReflections from my dinner with Charlie Munger.Order the new updated version of Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. MungerCharlie Munger episodes:#295 I had dinner with Charlie Munger#286 Warren Buffett and Charlie Munger All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. #221 Charlie Munger Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe.#90 Charlie Munger Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger#79 Charlie Munger Charlie Munger: The Complete Investor by Tren Griffin#78 Charlie Munger Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway's Vice Chairman on Life, Business, and the Pursuit of Wealth With Commentary by David Clark ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----

This Flashback Friday is from episode 583 published last October 19, 2015.  Tren Griffin doesn't know the current stock price of Berkshire Hathaway and says Warren Buffett probably doesn't either. Day-to-day ups and downs in the market don't affect feasible, long-term investments. Value investing, traditionally known as buy and hold investing, approaches investing differently than most low fee indexes. It encourages rational thinking, interest based buying and finding the price mistakes in the market.  Early Bird pricing for the next Meet the Masters event is now available. Key Takeaways: Jason's Editorial: 1:42 Orlando Property Tour & Creating Wealth Seminar coming up 3:19 What I like about Warren Buffett 4:50 Know this about the properties on our site 10:05 The Walmart documentary example 14:37 Every company has 3 primary audiences - suppliers, stakeholders & customers 16:26 Send me an email with good quality sitcoms! 18:32 Meet the Masters - Early bird pricing available now! 18:56 Dubai in February with the Venture Alliance   Tren Griffin Guest Interview: 20:01 Why write about Charlie Munger 21:22 4 principles of value investing 24:37 Munger philosophy of decision-making 25:53 25iq 27:00 The key to investing is to find a mistake - FOMO 32:06 Markets are difficult to predict in the short term 34:03 Aligning investments with interests 36:17 Are you willing to do the work required by value investing 38:05 The circle of confidence - become a specialist in one area 40:16 Munger/Buffett fundamental - Get Rich Slow 44:40 Berkshire stock never splits 46:38 Following Tren 48:29 You can have a life when you are a value investor   Mentions: JasonHartman.com Charlie Munger: The Complete Investor reviews@jasonhartman.com Venture Alliance Mastermind 25iq @trengriffin Flash Boys       Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com

What you are about to hear I have never released on this feed before.Order the new updated version of Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. MungerCharlie Munger episodes:#295 I had dinner with Charlie Munger#286 Warren Buffett and Charlie Munger All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. #221 Charlie Munger Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe.#90 Charlie Munger Poor Charlie's Almanack: The Essential Wit and Wisdom of Charles T. Munger#79 Charlie Munger Charlie Munger: The Complete Investor by Tren Griffin#78 Charlie Munger Tao of Charlie Munger: A Compilation of Quotes from Berkshire Hathaway's Vice Chairman on Life, Business, and the Pursuit of Wealth With Commentary by David Clark

Podcast: Founders (LS 59 · TOP 0.5% what is this?)Episode: #286 Warren Buffett and Charlie MungerPub date: 2023-01-16What I learned from reading All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. ----Come see a live show with me and Patrick O'Shaughnessy from Invest Like The Best on October 19th in New York City. Get your tickets here! ----This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.----Follow one of my favorite podcasts Invest Like The Best and listen to episode Mitch Lasky—The Business of GamingFollow the podcast Gamecraft to learn more about the history of the video game industry. ----[2:01] Buffett and Munger have a remarkable ability to eliminate folly, simplify things, boil down issues to their essence, get right to the point, and focus on simple and timeless truths.[3:00] The Almanack of Naval Ravikant: A Guide to Wealth and Happiness by Naval Ravikant and Eric Jorgenson.  (Founders #191)[4:00] Warren Buffet or Charlie Munger are the very wise grandfather figure that I never had.[5:00] To try to live your life totally free of mistakes is a life of inaction. —Warren Buffett[5:00] The sign above the players' entrance to the field at Notre Dame reads ´Play Like a Champion Today.' I sometimes joke that the sign at Nebraska reads 'Remember Your Helmet.' Charlie and I are 'Remember Your Helmet' kind of guys.' We like to keep it simple. (You must structure your life and business to be able to survive the inevitable bad decisions you're going to make.)[5:00] Wisdom is prevention. —Charlie Munger[6:00] We make actual decisions very rapidly, but that's because we've spent so much time preparing ourselves by quietly sitting and reading and thinking. —Charlie Munger[7:00] If you get into the mental habit of relating what you're reading to the basic underlying ideas being demonstrated, you gradually accumulate some wisdom. —Charlie Munger[7:00] At Berkshire, we don't have any meetings or committees, and I can think of no better way to become more intelligent than sit down and read. I hate meetings, frankly. I have created something that I enjoy: I happen to enjoy reading a lot, and I happen to enjoy thinking about things. —Warren Buffett[7:00] We both hate to have too many forward commitments in our schedules. We both insist on a lot of time being available to just sit and think. —Charlie Munger[8:00] I need eight hours of sleep. I think better. I have more energy. My mood is better. And think about it: As a senior executive, what do you really get paid to do? You get paid to make a small number of high-quality decisions. — Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson. (Founders #155)[9:00] I think people that multitask pay a huge price. When you multitask so much, you don't have time to think about anything deeply. You're giving the world an advantage you shouldn't do. Practically everybody is drifting into that mistake. I did not succeed in life by intelligence. I succeeded because I have a long attention span. —Charlie Munger[9:00] Jony Ive on Steve Jobs: Steve was the most remarkably focused person I've ever met. (Video)[11:00] It is just that simple. We've had enough good sense when something was working well, keep doing it. The fundamental algorithm of life: repeat what works. —Charlie Munger[13:00] ALL THE BUFFETT AND MUNGER EPISODES:Berkshire Hathaway Letters to Shareholders 1965-2018 by Warren Buffett. (Founders #88) The Snowball: Warren Buffett and the Business of Life by Alice Schroeder. (Founders #100)The Tao of Warren Buffett by Mary Buffett & David Clark. (Founders #101) Buffett: The Making of an American Capitalist by Roger Lowenstein. (Founders #182) A Few Lessons for Investors and Managers From Warren Buffett by Warren Buffett and Peter Bevelin. (Founders #202) The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)  Tao of Charlie Munger by David Clark (Founders #78) Charlie Munger: The Complete Investor by Tren Griffin. (Founders #79) Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. (Founders #90) Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe. (Founders #221) [14:00] Buffett: It's an inversion process. Start out with failure, and then engineer its removal.[15:00] Munger: I figure out what I don't like instead of figuring out what I like in order to get what I like.[15:00] Repetition is the mother of learning.[17:00] Munger: You can see the results of not learning from others' mistakes by simply looking about you. How little originality there is in the common disasters of mankind. (Business failures through repetition of obvious mistakes made by predecessors and so on.)[18:00] Munger: History allows you to keep things in perspective.[18:00] Everything that needs to be said has already been said. But since no one was listening, everything must be said again.[19:00] Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You cannot build it in one day or one week.[20:00] Pretend that every single person you meet has a sign around his or her neck that says, “Make me feel important.”[22:00] Buffett: In almost 60 years of investing we found it practically useless to give advice to anyone.[23:00] Munger: One of my favorite stories is about the little boy in Texas. The teacher asked the class, If there are nine sheep in the pen and one jumps out, how many are left? And everybody got the answer right except this little boy, who said, None of them are left. And the teacher said, You don't understand arithmetic. And he said No, teacher. You don't understand sheep.[25:00] Quite often Henry simply talked about his philosophy of running a corporation and the various financial strategies that he came up with as he sat in his corner office each day, often working at his Apple computer. He was a brilliant business strategist, just as he was a brilliant chess strategist and he came up with many creative ideas, ideas that were sometimes contrary to the currently accepted methods of managing a large corporation that prevailed in those days.“He always tries to work out the best moves," Shannon said, "and maybe he doesn't like to talk too much, because when you are playing a game you don't tell anyone else what your strategy is." — Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. (Founders #110)[28:00] Buffett: The difference between successful people and very successful people is that very successful people say no to almost everything.[29:00] If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. — James J. Hill: Empire Builder of the Northwest by Michael P. Malone. (Founders #96)[31:00] Buffett: Life tends to snap you at your weakest link.[35:00] Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price (Founders #107)[38:00] Paul Graham's essays (Founders #275-277)[39:00] I'm very suspect of the person who is very good at one business, who starts thinking they should tell the world how to behave on everything. —Warren Buffett[42:00] The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)[44:00] This life isn't a greenroom for something else. He went for it. —Bourdain: The Definitive Oral Biography by Laurie Woolever.[44:00] Buffett: We're here on the earth only one time so you ought to be doing something that you enjoy as you go along and you can be enthusiastic about.[48:00] Personal History by Katherine Graham. (Founders #152)[49:00] The problem is not getting rich, it is staying sane. —Charlie Munger[54:00] Learning is not memorizing information. Learning is changing your behavior. Most people can't learn from the experiences of other people: Charlie and I don't expect to win you over to our way of thinking—we've observed enough human behavior to know the futility of that, but we do want you to be aware of our personal calculus.[57:00] We are individual opportunity driven. Our acquisition technique at Berkshire is simplicity itself: We answer the phone.[1:00:00] A brand is a promise. —Warren Buffett[1:01:00] Obsess over customers. Buffett said this about Amazon in 2012: Amazon could affect a lot of businesses who don't think they will be affected. For Amazon, it is very hard to find unhappy customers. A business that has millions and millions of happy customers can introduce them to new items, it will be a powerhouse and could affect a lot of businesses.[1:03:00] Munger: We should make a list of everything that irritates a customer, and then we should eliminate those defects one by one.[1:04:00] Most companies, when they get rich, get sloppy.[1:05:00] Munger: One of the models in my head is the 'Northern Pike Model. You have a lake full of trout. But if you throw in a few northern pike, pretty soon there aren't many trout left but a lot of northern pike. Wal-Mart in its early days was the northern pike. It figured out how the customer could be better served and just galloped through the world like Genghis Kahn.[1:09:00] Practice! Michael Jordan: The Life by Roland Lazenby. (Founders #212)[1:10:00] Market forecasters will fill your ear, but they will never fill your wallet.[1:11:00] We don't have any new tricks. We just know the old tricks better.----Subscribe to listen to Founders Premium — Subscribers can ask me questions directly which I will answer in Ask Me Anything (AMA) episodes ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders PodcastThe podcast and artwork embedded on this page are from David Senra , which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

Podcast: Founders (LS 61 · TOP 0.1% what is this?)Episode: #286 Warren Buffett and Charlie MungerPub date: 2023-01-16What I learned from reading All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. ----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----Follow one of my favorite podcasts Invest Like The Best and listen to episode Mitch Lasky—The Business of GamingFollow the podcast Gamecraft to learn more about the history of the video game industry. ----[2:01] Buffett and Munger have a remarkable ability to eliminate folly, simplify things, boil down issues to their essence, get right to the point, and focus on simple and timeless truths.[3:00] The Almanack of Naval Ravikant: A Guide to Wealth and Happiness by Naval Ravikant and Eric Jorgenson.  (Founders #191)[4:00] Warren Buffet or Charlie Munger are the very wise grandfather figure that I never had.[5:00] To try to live your life totally free of mistakes is a life of inaction. —Warren Buffett[5:00] The sign above the players' entrance to the field at Notre Dame reads ´Play Like a Champion Today.' I sometimes joke that the sign at Nebraska reads 'Remember Your Helmet.' Charlie and I are 'Remember Your Helmet' kind of guys.' We like to keep it simple. (You must structure your life and business to be able to survive the inevitable bad decisions you're going to make.)[5:00] Wisdom is prevention. —Charlie Munger[6:00] We make actual decisions very rapidly, but that's because we've spent so much time preparing ourselves by quietly sitting and reading and thinking. —Charlie Munger[7:00] If you get into the mental habit of relating what you're reading to the basic underlying ideas being demonstrated, you gradually accumulate some wisdom. —Charlie Munger[7:00] At Berkshire, we don't have any meetings or committees, and I can think of no better way to become more intelligent than sit down and read. I hate meetings, frankly. I have created something that I enjoy: I happen to enjoy reading a lot, and I happen to enjoy thinking about things. —Warren Buffett[7:00] We both hate to have too many forward commitments in our schedules. We both insist on a lot of time being available to just sit and think. —Charlie Munger[8:00] I need eight hours of sleep. I think better. I have more energy. My mood is better. And think about it: As a senior executive, what do you really get paid to do? You get paid to make a small number of high-quality decisions. — Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson. (Founders #155)[9:00] I think people that multitask pay a huge price. When you multitask so much, you don't have time to think about anything deeply. You're giving the world an advantage you shouldn't do. Practically everybody is drifting into that mistake. I did not succeed in life by intelligence. I succeeded because I have a long attention span. —Charlie Munger[9:00] Jony Ive on Steve Jobs: Steve was the most remarkably focused person I've ever met. (Video)[11:00] It is just that simple. We've had enough good sense when something was working well, keep doing it. The fundamental algorithm of life: repeat what works. —Charlie Munger[13:00] ALL THE BUFFETT AND MUNGER EPISODES:Berkshire Hathaway Letters to Shareholders 1965-2018 by Warren Buffett. (Founders #88) The Snowball: Warren Buffett and the Business of Life by Alice Schroeder. (Founders #100)The Tao of Warren Buffett by Mary Buffett & David Clark. (Founders #101) Buffett: The Making of an American Capitalist by Roger Lowenstein. (Founders #182) A Few Lessons for Investors and Managers From Warren Buffett by Warren Buffett and Peter Bevelin. (Founders #202) The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)  Tao of Charlie Munger by David Clark (Founders #78) Charlie Munger: The Complete Investor by Tren Griffin. (Founders #79) Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. (Founders #90) Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe. (Founders #221) [14:00] Buffett: It's an inversion process. Start out with failure, and then engineer its removal.[15:00] Munger: I figure out what I don't like instead of figuring out what I like in order to get what I like.[15:00] Repetition is the mother of learning.[17:00] Munger: You can see the results of not learning from others' mistakes by simply looking about you. How little originality there is in the common disasters of mankind. (Business failures through repetition of obvious mistakes made by predecessors and so on.)[18:00] Munger: History allows you to keep things in perspective.[18:00] Everything that needs to be said has already been said. But since no one was listening, everything must be said again.[19:00] Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You cannot build it in one day or one week.[20:00] Pretend that every single person you meet has a sign around his or her neck that says, “Make me feel important.”[22:00] Buffett: In almost 60 years of investing we found it practically useless to give advice to anyone.[23:00] Munger: One of my favorite stories is about the little boy in Texas. The teacher asked the class, If there are nine sheep in the pen and one jumps out, how many are left? And everybody got the answer right except this little boy, who said, None of them are left. And the teacher said, You don't understand arithmetic. And he said No, teacher. You don't understand sheep.[25:00] Quite often Henry simply talked about his philosophy of running a corporation and the various financial strategies that he came up with as he sat in his corner office each day, often working at his Apple computer. He was a brilliant business strategist, just as he was a brilliant chess strategist and he came up with many creative ideas, ideas that were sometimes contrary to the currently accepted methods of managing a large corporation that prevailed in those days.“He always tries to work out the best moves," Shannon said, "and maybe he doesn't like to talk too much, because when you are playing a game you don't tell anyone else what your strategy is." — Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. (Founders #110)[28:00] Buffett: The difference between successful people and very successful people is that very successful people say no to almost everything.[29:00] If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. — James J. Hill: Empire Builder of the Northwest by Michael P. Malone. (Founders #96)[31:00] Buffett: Life tends to snap you at your weakest link.[35:00] Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price (Founders #107)[38:00] Paul Graham's essays (Founders #275-277)[39:00] I'm very suspect of the person who is very good at one business, who starts thinking they should tell the world how to behave on everything. —Warren Buffett[42:00] The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)[44:00] This life isn't a greenroom for something else. He went for it. —Bourdain: The Definitive Oral Biography by Laurie Woolever.[44:00] Buffett: We're here on the earth only one time so you ought to be doing something that you enjoy as you go along and you can be enthusiastic about.[48:00] Personal History by Katherine Graham. (Founders #152)[49:00] The problem is not getting rich, it is staying sane. —Charlie Munger[54:00] Learning is not memorizing information. Learning is changing your behavior. Most people can't learn from the experiences of other people: Charlie and I don't expect to win you over to our way of thinking—we've observed enough human behavior to know the futility of that, but we do want you to be aware of our personal calculus.[57:00] We are individual opportunity driven. Our acquisition technique at Berkshire is simplicity itself: We answer the phone.[1:00:00] A brand is a promise. —Warren Buffett[1:01:00] Obsess over customers. Buffett said this about Amazon in 2012: Amazon could affect a lot of businesses who don't think they will be affected. For Amazon, it is very hard to find unhappy customers. A business that has millions and millions of happy customers can introduce them to new items, it will be a powerhouse and could affect a lot of businesses.[1:03:00] Munger: We should make a list of everything that irritates a customer, and then we should eliminate those defects one by one.[1:04:00] Most companies, when they get rich, get sloppy.[1:05:00] Munger: One of the models in my head is the 'Northern Pike Model. You have a lake full of trout. But if you throw in a few northern pike, pretty soon there aren't many trout left but a lot of northern pike. Wal-Mart in its early days was the northern pike. It figured out how the customer could be better served and just galloped through the world like Genghis Kahn.[1:09:00] Practice! Michael Jordan: The Life by Roland Lazenby. (Founders #212)[1:10:00] Market forecasters will fill your ear, but they will never fill your wallet.[1:11:00] We don't have any new tricks. We just know the old tricks better.----Get access to the World's Most Valuable Notebook for Founders by investing in a subscription to Founders Notes----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders PodcastThe podcast and artwork embedded on this page are from David Senra , which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

What I learned from reading All I Want To Know Is Where I'm Going To Die So I'll Never Go There: Buffett & Munger – A Study in Simplicity and Uncommon, Common Sense by Peter Bevelin. This episode is brought to you by: Tiny: Tiny is the easiest way to sell your business. Quick and straightforward exits for Founders.----Follow one of my favorite podcasts Invest Like The Best and listen to episode Mitch Lasky—The Business of GamingFollow the podcast Gamecraft to learn more about the history of the video game industry. ----[2:01] Buffett and Munger have a remarkable ability to eliminate folly, simplify things, boil down issues to their essence, get right to the point, and focus on simple and timeless truths.[3:00] The Almanack of Naval Ravikant: A Guide to Wealth and Happiness by Naval Ravikant and Eric Jorgenson.  (Founders #191)[4:00] Warren Buffet or Charlie Munger are the very wise grandfather figure that I never had.[5:00] To try to live your life totally free of mistakes is a life of inaction. —Warren Buffett[5:00] The sign above the players' entrance to the field at Notre Dame reads ´Play Like a Champion Today.' I sometimes joke that the sign at Nebraska reads 'Remember Your Helmet.' Charlie and I are 'Remember Your Helmet' kind of guys.' We like to keep it simple. (You must structure your life and business to be able to survive the inevitable bad decisions you're going to make.)[5:00] Wisdom is prevention. —Charlie Munger[6:00] We make actual decisions very rapidly, but that's because we've spent so much time preparing ourselves by quietly sitting and reading and thinking. —Charlie Munger[7:00] If you get into the mental habit of relating what you're reading to the basic underlying ideas being demonstrated, you gradually accumulate some wisdom. —Charlie Munger[7:00] At Berkshire, we don't have any meetings or committees, and I can think of no better way to become more intelligent than sit down and read. I hate meetings, frankly. I have created something that I enjoy: I happen to enjoy reading a lot, and I happen to enjoy thinking about things. —Warren Buffett[7:00] We both hate to have too many forward commitments in our schedules. We both insist on a lot of time being available to just sit and think. —Charlie Munger[8:00] I need eight hours of sleep. I think better. I have more energy. My mood is better. And think about it: As a senior executive, what do you really get paid to do? You get paid to make a small number of high-quality decisions. — Invent and Wander: The Collected Writings of Jeff Bezos, With an Introduction by Walter Isaacson. (Founders #155)[9:00] I think people that multitask pay a huge price. When you multitask so much, you don't have time to think about anything deeply. You're giving the world an advantage you shouldn't do. Practically everybody is drifting into that mistake. I did not succeed in life by intelligence. I succeeded because I have a long attention span. —Charlie Munger[9:00] Jony Ive on Steve Jobs: Steve was the most remarkably focused person I've ever met. (Video)[11:00] It is just that simple. We've had enough good sense when something was working well, keep doing it. The fundamental algorithm of life: repeat what works. —Charlie Munger[13:00] ALL THE BUFFETT AND MUNGER EPISODES:Berkshire Hathaway Letters to Shareholders 1965-2018 by Warren Buffett. (Founders #88) The Snowball: Warren Buffett and the Business of Life by Alice Schroeder. (Founders #100)The Tao of Warren Buffett by Mary Buffett & David Clark. (Founders #101) Buffett: The Making of an American Capitalist by Roger Lowenstein. (Founders #182) A Few Lessons for Investors and Managers From Warren Buffett by Warren Buffett and Peter Bevelin. (Founders #202) The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)  Tao of Charlie Munger by David Clark (Founders #78) Charlie Munger: The Complete Investor by Tren Griffin. (Founders #79) Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. (Founders #90) Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe. (Founders #221) [14:00] Buffett: It's an inversion process. Start out with failure, and then engineer its removal.[15:00] Munger: I figure out what I don't like instead of figuring out what I like in order to get what I like.[15:00] Repetition is the mother of learning.[17:00] Munger: You can see the results of not learning from others' mistakes by simply looking about you. How little originality there is in the common disasters of mankind. (Business failures through repetition of obvious mistakes made by predecessors and so on.)[18:00] Munger: History allows you to keep things in perspective.[18:00] Everything that needs to be said has already been said. But since no one was listening, everything must be said again.[19:00] Berkshire was a small business at one time. It just takes time. It is the nature of compound interest. You cannot build it in one day or one week.[20:00] Pretend that every single person you meet has a sign around his or her neck that says, “Make me feel important.”[22:00] Buffett: In almost 60 years of investing we found it practically useless to give advice to anyone.[23:00] Munger: One of my favorite stories is about the little boy in Texas. The teacher asked the class, If there are nine sheep in the pen and one jumps out, how many are left? And everybody got the answer right except this little boy, who said, None of them are left. And the teacher said, You don't understand arithmetic. And he said No, teacher. You don't understand sheep.[25:00] Quite often Henry simply talked about his philosophy of running a corporation and the various financial strategies that he came up with as he sat in his corner office each day, often working at his Apple computer. He was a brilliant business strategist, just as he was a brilliant chess strategist and he came up with many creative ideas, ideas that were sometimes contrary to the currently accepted methods of managing a large corporation that prevailed in those days.“He always tries to work out the best moves," Shannon said, "and maybe he doesn't like to talk too much, because when you are playing a game you don't tell anyone else what your strategy is." — Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by Dr. George Roberts. (Founders #110)[28:00] Buffett: The difference between successful people and very successful people is that very successful people say no to almost everything.[29:00] If you want to know whether you are destined to be a success or a failure in life, you can easily find out. The test is simple and it is infallible: Are you able to save money? If not, drop out. You will lose. You may think not, but you will lose as sure as you live. The seed of success is not in you. — James J. Hill: Empire Builder of the Northwest by Michael P. Malone. (Founders #96)[31:00] Buffett: Life tends to snap you at your weakest link.[35:00] Sol Price: Retail Revolutionary & Social Innovator by Robert E. Price (Founders #107)[38:00] Paul Graham's essays (Founders #275-277)[39:00] I'm very suspect of the person who is very good at one business, who starts thinking they should tell the world how to behave on everything. —Warren Buffett[42:00] The Essays of Warren Buffett by Warren Buffett and Lawrence Cunningham. (Founders #227)[44:00] This life isn't a greenroom for something else. He went for it. —Bourdain: The Definitive Oral Biography by Laurie Woolever.[44:00] Buffett: We're here on the earth only one time so you ought to be doing something that you enjoy as you go along and you can be enthusiastic about.[48:00] Personal History by Katherine Graham. (Founders #152)[49:00] The problem is not getting rich, it is staying sane. —Charlie Munger[54:00] Learning is not memorizing information. Learning is changing your behavior. Most people can't learn from the experiences of other people: Charlie and I don't expect to win you over to our way of thinking—we've observed enough human behavior to know the futility of that, but we do want you to be aware of our personal calculus.[57:00] We are individual opportunity driven. Our acquisition technique at Berkshire is simplicity itself: We answer the phone.[1:00:00] A brand is a promise. —Warren Buffett[1:01:00] Obsess over customers. Buffett said this about Amazon in 2012: Amazon could affect a lot of businesses who don't think they will be affected. For Amazon, it is very hard to find unhappy customers. A business that has millions and millions of happy customers can introduce them to new items, it will be a powerhouse and could affect a lot of businesses.[1:03:00] Munger: We should make a list of everything that irritates a customer, and then we should eliminate those defects one by one.[1:04:00] Most companies, when they get rich, get sloppy.[1:05:00] Munger: One of the models in my head is the 'Northern Pike Model. You have a lake full of trout. But if you throw in a few northern pike, pretty soon there aren't many trout left but a lot of northern pike. Wal-Mart in its early days was the northern pike. It figured out how the customer could be better served and just galloped through the world like Genghis Kahn.[1:09:00] Practice! Michael Jordan: The Life by Roland Lazenby. (Founders #212)[1:10:00] Market forecasters will fill your ear, but they will never fill your wallet.[1:11:00] We don't have any new tricks. We just know the old tricks better.----Subscribe to listen to Founders Premium — Subscribers can ask me questions directly which I will answer in Ask Me Anything (AMA) episodes ----“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — GarethBe like Gareth. Buy a book: All the books featured on Founders Podcast

Episode 359: Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP) talk about robotic food businesses, the importance of showmanship, and hiring a stranger to help Sam grow on TikTok. ----- Links: * Brett Adcock / @adcock_brett * Vettery * Archer * Furqan Rydhan * Orangewood Robotics * Timmy Trumpet plays Edwin Diaz's entrance song * Tren Griffin - 25iq * Boosted Skateboards * Sam Parr TikTok * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter. ------ Show Notes: (03:00) - Wartime and peace time leaders (14:30) - Brett Adcock (21:50) - Furqan Rydhan (28:30) - Robotic food businesses (45:30) - Showmanship (58:45) - Sam's TikTok ----- Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • ​​​​#218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Tren Griffin returns to what is his third appearance on Infinite Loops — with a series of stories on business, investing, and life! Why Gates didn't write an autobiography How “rude” QnAs can be helpful Having a purpose in life Keeping business separate from the personal And MUCH more! Follow Tren on Twitter (https://twitter.com/trengriffin) and read his blog at: https://25iq.com/

Tren Griffin stops by The Business Brew for a fun conversation about his career, investing, and life.  Tren is an author of 7 books, had a front row seat to Bill Gates' career, sold ½ of his business in the .com bubble, deeply studied Charlie Munger, and now works at Microsoft.  This conversation spans Tren's career, his advice regarding giving to get, the importance of being brave, and much more. Tren, thank you for joining The Brew.  It was a pleasure speaking with you.  We hope you enjoy the discussion.  You can find Tren on Twitter @trengriffin and read his work at https://25iq.com/ Detailed show notes below the Stream by Mosiac sponsor copy and thank yous. Please leave us a rating in your favorite app store. This episode is brought to you by Stream by Mosaic, a product that is integral to any fundamental research process.  Stream has developed an extensive library of expert interviews that cover a variety of industries.  StreamRG.com features over 300 expert interviews.  70% of Stream's experts are found exclusively on StreamRG.com.  Visit StreamRG.com today and use promo code BREW for a 14 day trial. Album art photo taken by Mike Ando.  Please see https://www.mikeando.com/ Thank you to @mathewpassy (on Twitter) for the show production. Audio ~6:20 – Scaling luck ~9:15 – Age creating humility ~11:30 – Coming up with a startup idea when the internet was nascent ~15:21 – Interesting Seattle connections lead to starting a satellite company ~18:00 – Giving to get ~26:00 – Nonlinear outcomes ~28:00 – The uniqueness of “you”  ~30:00 – The power of herding and finding the tailwinds in life ~34:00 – Having different mentors for different things in life ~41:00 – The power of stories ~48:00 – The power of getting curious and finding interesting people ~52:00 – Whether Tren has any regrets from his startup ~1:00:00 – Taking care of yourself to avoid breaking.  But also, enjoy every sandwich. ~1:02:30 – Feedback and making your community better ~1:06:30 – The importance of bravery ~1:09:00 – Teach your kids to be independent ~1:12:00 – Being brave but humble ~1:17:00 – Owning stocks/businesses that inspire you ~1:20:00 – The difference between people you work with ~1:25:00 - Culture

Today's Flash Back Friday is from episode 583 with Tren Griffin originally published last October 19, 2015. Tren Griffin doesn't know the current stock price of Berkshire Hathaway and says Warren Buffett probably doesn't either. Day-to-day ups and downs in the market don't affect feasible, long-term investments. Value investing, traditionally known as buy and hold investing, approaches investing differently than most low fee indexes. It encourages rational thinking, interest based buying and finding the price mistakes in the market.  Key Takeaways: Jason's Editorial: [1:45] Orlando Property Tour & Creating Wealth Seminar coming up [3:20] What I like about Warren Buffett [4:52] Know this about the properties on our site [10:00] The Walmart documentary example [14:37] Every company has 3 primary audiences - suppliers, stakeholders & customers [16:26] Send me an email with good quality sitcoms! [18:32] Meet the Masters - Early bird pricing available now! [18:56] Dubai in February with the Venture Alliance   Tren Griffin Guest Interview: [20:00] Why write about Charlie Munger [21:22] 4 principles of value investing [24:11] Munger philosophy of decision-making [25:53] 25iq [27:00] The key to investing is to find a mistake - FOMO [32:06] Markets are difficult to predict in the short term [34:03] Aligning investments with interests [36:18] Are you willing to do the work required by value investing [38:04] The circle of confidence - become a specialist in one area [40:16] Munger/Buffett fundamental - Get Rich Slow [44:40] Berkshire stock never splits [46:38] Following Tren [48:29] You can have a life when you are a value investor   Mentions: JasonHartman.com Charlie Munger: The Complete Investor reviews@jasonhartman.com Venture Alliance Mastermind 25iq @trengriffin Flash Boys   The WEALTH TRANSFER is happening FAST! Protect your financial future now! Did you know that 25% to 40% of all dollars ever created were dumped into the economy last year???  This will be devastating to some and an opportunity to others, be sure you're on the right side of this massive wealth transfer. Learn from our experiences, maximize your ROI and avoid regrets. Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com Jason's TV Clips: https://vimeo.com/549444172  Asset Protection, Tax Savings & Estate Planning: http://JasonHartman.com/Protect  What do Jason's clients say? http://JasonHartmanTestimonials.com Easily get up to $250,000 in funding for real estate, business or anything else  http://JasonHartman.com/Fund  Call our Investment Counselors at: 1-800-HARTMAN (US) or visit www.JasonHartman.com  Guided Visualization for Investors: http://jasonhartman.com/visualization  

Today, we will be covering the endlessly fascinating market of Space. While we typically focus on an individual company for Business Breakdowns, we thought an industry primer was the best approach for this expanding market. With Elon Musk and Jeff Bezos directing so much energy to the promise of space, it is impossible not to dream about what lies ahead. To cover this endless topic, I'll be joined by a previous guest, Tren Griffin. While Tren's full-time job is a director at Microsoft, his experience with satellites and endless curiosity make him ideal for this conversation. We cover how our ground economy is enabled by space today, what excites him most about the space to space opportunities in the future, and how space compares to other network foundations. I hope you enjoy this great space primer with Tren Griffin. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. -----   This episode is brought to you by Quartr. With Quartr, you can access conference calls, investor presentations, transcripts, and earnings reports – straight from your pocket. Quartr is 100% free and includes companies from 12 markets including the US, the UK, Canada, India, and all the Scandanavian countries.  Quartr is available for both iOS and Android, so check out the app today.   -----   Business Breakdowns is a property of Colossus, Inc. For more episodes of Business Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @JoinColossus | @patrick_oshag | @jspujji | @zbfuss   Show Notes [00:02:19] - [First question] - The current size and scope of the space economy [00:04:42] - Important historic milestones that helped us get to where we are today [00:12:33] - The varying levels of orbit and what they unlock for technology [00:19:22] - How expensive launches were and what they are now with SpaceX and Starship [00:22:08] - Overview of the Starlink project and using it to recoup infrastructural setup costs [00:27:32] - Whether or not launch will ever become more than just a commodity  [00:31:01] - Different types of satellites and earth-orbiting technology [00:34:23] - Thoughts on in-space manufacturing as an emerging industry [00:35:33] - Future colonization of the moon, Mars, and humanity leaving the Earth [00:38:19] - The importance of dreaming big to inspire those around you [00:42:36] - Potential reasons why space may not become a new frontier [00:44:41] - Politics and the militarization side of open space [00:47:19] - Legalities and the need for a space treaty  [00:49:41] - Whether or not humans will be living on the moon by 2035 [00:51:03] - What the benefits will be of a colony on Mars if we can establish one on the moon

Der Zinseszins Effekt ist nicht nur in der Geldanlage ein Grundprinzip. Auch bei Themen, wie Gesundheit, Networking und vor allem der persönlichen Entwicklung gibt es exponentielle Effekte, die man sich langfristig positiv auswirken können. Was es damit konkret auf sich hat - und wie du diese Effekte nutzt, erfährst du in dieser Podcastfolge. Show Notes: >> Bücher: "Charlie Munger" von Tren Griffin >> Karriere Sprint: schmaddebeck.de/sprint >> Tim Schmaddebeck auf LinkedIn ansehen: Hier klicken. >> Buchempfehlungen: schmaddebeck.de/buecher

In this unique episode of Infinite Loops, Tren Griffin returns to the podcast, but this time as the co-host. Tren asks Jim a series of thought-provoking questions that cover topics like (Jim got a few questions to Tren as well): The importance of asking "why" Treating failures as lessons How writing helps in detecting blind-spots in your thinking Courage, and to go all-in!  Munger, Buffett, Gates, Jobs, and A LOT more!  Follow Tren on Twitter (https://twitter.com/trengriffin) and read his blog at: https://25iq.com/

The Meta-Creator CeilingHow many people should be teaching people how to succeed instead of just succeeding in their own way?As independent creators carve out a new career path for themselves, I suspect that some are unintentionally picking a path that limits their growth and robs the world of their true potential.This theory was triggered by this Hunter Walk tweet:Of course it is too reductive to reduce pluripotent people to "A players" and "B players". And of course this is nowhere near as bad as the real-life "glass ceiling" or a "bamboo ceiling" in normal careers, where a certain set of the workforce is unable to progress by sheer fact of who they are. That is obviously despicable and is a far more important societal issue.But the meta-creator ceiling is interesting to me because it is a path that new creators follow by choice, yet without being aware of it's limitations because nobody is incentivized to warn them. Perhaps because it is an easier game than others, or perhaps because of hype and marketing.No judgment — I of all people know that there are many ways to avoid asking what it is I really want to do with my life.Perhaps some definitions are in order: A "Meta-Creator" is someone who creates content about creating, instead of just creating.The temptation toward being a Meta-Creator is extremely high. There are three paths: The A-B-C Loop: People want success porn. They are oblivious to the narrative fallacy and ignore luck and complicating details. Your success creating success porn gains you access to more successful people who are only too happy to let you write their hagiography. You can spend an entire career mythologizing successful people, living a life of a bard rather than a hero. The Creator Strange Loop: To quote the always-brilliant Philip Kiely: "First you do X, then you make content about doing X, then you make content about that content... One day you realize you haven't done X for six months. And there is only so much room for content at the highest levels of abstraction." Every single step makes logical sense because you have credibility from having just done the thing. Yet after a few steps you look back and you have wandered far from your original interests. The Audience-Building Loop: The natural end game of the current Audience-First and Build in Public memes is that you naturally attract an audience of wannabe builders. There are only so many topics they want to buy, and so many things to incestuously sell to each other. The successful cohorts will be supported by the far bigger unsuccessful ones in a self-organizing pyramid scheme. To be extremely clear: You can be enormously successful and happy being a Meta-Creator, and bring success and happiness to millions, and that is no small feat. I enjoy Tim Ferris' podcasts and Tren Griffin's blogposts. No judgment if that's your thing. The economics make sense too — in a gold rush, go mine a bit of gold, then sell the shovel you used because it is proven to work.But, one, you may have a lower chance of success pursuing this path than others, because it is both available to everyone and zero-sum.But I write for reason two: the sneaking suspicion that even if you win and are top of the heap at the Meta-Creator game, you are still limiting yourself from what you could be doing with your life. What the people you actually look up to are doing with theirs. What the world could be benefiting from if the greatest minds of our generation just applied themselves to other problems than "How to Crush it on Twitter" or "How to Get A Million Subscribers on YouTube" or the 3923rd "How Warren Buffett and Charlie Munger Think" blogpost.Smart, capable people like you and I can often approach life with more ambition than direction. We want success more than we want to solve problems. I think the way to approach the question of "what do I do to be successful", may be to flip it on its head:Assume you will be successful at whatever game you play. Are you playing a game you want to win?

In this episode of Infinite Loops we spoke with Tren Griffin, Senior Director at Microsoft and author of the popular business and investing blog 25iq . In this wide-ranging discussion we cover: Base rates and ‘escaping gravity’ Living a rewarding life. Entrepreneurship and risk-taking The importance of becoming an ‘Editor’ And much more Follow Tren (https://twitter.com/trengriffin) on Twitter, and read his blog here 25iq.

Daniel Bleicher ist überzeugter Value Investor. Dabei werden mit verschiedenen Analysemethoden unterbewertete Aktien ermittelt, in welche dann langfristig investiert wird. Lange Zeit war die Suche nach attraktiven Value-Aktien vergeblich, doch die Corona-Krise bietet gerade für diese Investoren spannende Möglichkeiten. Wie Daniel bei seiner Aktienauswahl vorgeht und welche Erfahrungen er bisher gemacht hat, erfährst du in dieser Folge des Investor Stories Podcast. Shownotes: Blog Bavarian Value: https://bavarian-value.de/ Bavarian Value wikifolio: https://www.wikifolio.com/de/de/w/wf10000wwv Bavarian Value auf Social Media: Facebook: https://www.facebook.com/BavarianValue/ Instagram: https://www.instagram.com/bavarianvalue/ Twitter https://twitter.com/BavarianValue Buchempfehlungen: Warren Buffett: Sein Weg. Seine Methode. Seine Strategie – Robert Hagstrom: https://amzn.to/2N4NjTB * Charlie Munger: Ich habe dem nichts mehr hinzuzufügen – Tren Griffin: https://amzn.to/3huMD85 * Affiliate Link = *

A wide ranging business conversation with Tren Griffin Guest - Tren Griffin, Author at 25iq.com howardlindzon.com, 25iq.com Twitter: @howardlindzon, @trengriffin, @knutjensen

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Tren Griffin Charlie Munger The Complete Investor Book Summary --- Support this podcast: https://anchor.fm/bestbookbits/support

Episode 043. Ikuti dan dengarkan resensi buku Charlie Munger: The Complete Investor karya Tren Griffin. Sebuah buku ringkas yang menarik tentang sosok menarik, investor dan pemikir yang juga partner dari Warren Buffett.

My guest today is Tren Griffin, a Senior Director at Microsoft and the man behind an excellent blog called 25IQ. Tren is one of the most prolific writers I know. He’s written books about negotiation, entrepreneurship, and Charlie Munger. He published an article every week for almost six years, and because of all that hard work, he’s now posted more than 1.3 million words online. We start the conversation by talking about his writing process. Then, we talk about distribution in the cellular business, Software-as-a-Service business models, and lessons from his legendary entrepreneur Craig McCaw. After an afternoon with Tren, I feel like he gets more excited about ideas than anybody I’ve ever met. Tren loves life, loves people, and in this conversation, you’ll see just how much he loves ideas.   SUBSCRIBE TO MY “MONDAY MUSINGS” NEWSLETTER TO KEEP UP WITH THE PODCAST. LINKS: Find Tren online: Twitter 25iq Other links: Bill Gurley  Benchmark Capital Craig McCaw Santa Fe Institute Patrick Collison Richard Zeckhauser Charlie Munger Ed Thorpe Lil Wayne Nassim Taleb John Malone SHOW NOTES 1:46 How did Tren get started with writing, why he is so disciplined about the writing process, and   9:44 What Tren told data scientists during his talk on complex adaptive systems, how to calibrate yourself to business cycles, and trusting the process 21:21 Acquiring judgment through seeing smart people make decisions and what Tren learned from Craig McCaw 33:25 The genesis of the software in the box business model, what the future of the book is going to look like, and the importance of curated marketplaces 41:02 The influence of the Santa Fe Institute, why distribution is so hard, and the key elements of defensibility of companies 54:03 Patrick Collison on raising the intellectual bar at Stripe, what Tren has learned from Richard Zeckhauser, and the importance of first party stories 1:05:02 Demand side economies of sale and what Tren has learn from Charlie Munger, Ed Thorpe, and Lil Wayne 1:17:48 How Tren got into hip hop, Nassim Taleb, and John Malone 1:29:53 What Tren has learned from Bill Gurley

What I learned from reading Charlie Munger: The Complete Investor by Tren GriffinA list of all the books featured on Founders PodcastTwitter: @founderspodcastTikTok: @founderspodcastLinkedIn: David Senra 

My guest this week is a bundle of curiosity, and that is one of the nicest things I could say about someone. For several years, Tren Griffin has been writing a weekly blog post that highlights things he has learned from various investors, businesspeople, musicians, comedians, and more. Lately, he has also been tackling individual businesses, and broad topics like scaling, competitive forces, and product market fit. Tren’s full time job is serving as a director at Microsoft. He’s also worked with or for several well know businesspeople and investors like Craig McCaw, and written several books including one on lessons for entrepreneurs, one on Charlie Munger, and another on negotiation.   We discuss value creation vs. value capture, alpha in investing, sales, hip hop, and why he’d teach high school students about convexity through a drunk driving analogy. I could have talked to Tren for much longer than I did, but sadly, we both had flights to catch.  If you take anything away from this, I hope its just how much fun it is to just be curious about business, and how you can learn a tremendous amount if you just keep reading about the things that interest you and talking to others. Please enjoy my conversation with Tren Griffin. For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag   Show Notes 2:26 – (First question) –  key levers of the universal business model 4:26 – How do you know when you’ve achieved real value creation 6:24 – Importance of value capture and how they enhance value creation              6:31 – Zero to One: Notes on Startups, or How to Build the Future 9:08 – Price power 10:28 – Are discussions of moats more useful to businesses than to investors 13:12 -  What Tren learned during his early years working with Craig McCaw             16:28 – The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success 16:36 – The skill of capital allocation 18:37 – How would Buffett and Munger bet on tech if they were starting out today and their philosophy of betting against change 21:57 – How Tren became so fascinated with Charlie and what he’s learned from him             22:32 – The Alchemy of Finance             23:17 – Damn Right: Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger             23:19 – Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger 25:21 – Most memorable moment or lesson from Charlie 28:19 – There are more pockets of Alpha 19:20 – How he thinks about factor investing 31:25 – What are the scalability features that make a business attractive 31:28 – A Dozen Attributes of a Scalable Business 35:37 – Exploring some of the other important levers of businesses, such as subscriptions, customer acquisition cost, and more.             36:20 – Getting to Yes: Negotiating Agreement Without Giving In 37:11 – Wholesale transfer pricing 39:18 – Pros and cons of subscription business models 43:14 – Magic of getting products distributed 44:58 – Best sale Tren’s ever made 46:46 – Most important lesson for young people 49:01 – Any businesses that are piquing Tren’s interest right now 50:16 – Tren’s interest in hip-hop and how it helps him reach more people 53:49 – A look at some interesting quotes from Jim Barksdale 58:22 – Learning by doing             1:00:48 – Seeing like a State: How Certain Schemes to Improve the Human Condition Have Failed 1:01:06 – Period of his career that he felt most alive 1:03:03 – Advice for young people thinking about business and entrepreneurship 1:04:56 – Why are so few people passionate about what they do for a living 1:10:44 – Kindest thing anyone has done for Tren   Learn More For more episodes go to InvestorFieldGuide.com/podcast.  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on twitter at @patrick_oshag  

“Skin in the Game is about four topics in one: a) uncertainty and the reliability of knowledge (both practical and scientific, assuming there is a difference), or in less polite words bullshit detection, b) symmetry in human affairs, that is, fairness, justice, responsibility, and reciprocity, c) information sharing in transactions, and d) rationality in complex systems and in the real world. That these four cannot be disentangled is something that is obvious when one has…skin in the game.” In this episode of Made You Think, Neil and I discuss Skin in the Game: Hidden Asymmetries in Daily Life by Nassim Taleb. In this book, Taleb touches in many of the topics he’s covered in his previous work, such as virtue signaling and probability, and most of all, true risk taking. "[...] what people resent—or should resent—is the person at the top who has no skin in the game [...]" We cover a wide range of topics, including: Academia and its capability —or lack of it— of predicting real life. Having skin in the game and how it affects your behavior. How minorities impose their preferences to majorities. Judging a complex system by its elements. Sam Harris’ scalding opinion of Nassim Taleb. Virtue signaling. And much more. Please enjoy, and be sure to grab a copy of Skin in the Game by Nassim Taleb. "Not everything that happens happens for a reason, but everything that survives survives for a reason." If you enjoyed this episode, be sure to check out our episode on Antifragile by Nassim Taleb to dive deeper into Taleb’s work, and our episode on 12 Rules for Life by Jordan Peterson, so you too can imagine the awesome podcast Jordan and Taleb could create together. Be sure to join our mailing list to find out about what books are coming up, giveaways we're running, special events, and more. Links from the Episode Mentioned in the show Nassim Taleb on Medium [01:45] Nat Chat [01:04] (Antifragile episode) Twitter [03:48] Uber [13:04] Venture Capital [15:30] Y Combinator [15:37] Startup Company [15:37] Hedge Fund [17:09] Cryptocurrency [18:16] Gilgamesh coin [19:00] Lindy Effect  [21:40] Virtue Signaling [24:32] Middlebury College [24:43] Statin [28:25] American Heart Association [31:30] Coca-Cola [35:20] Confirmation Bias [38:47] The Placebo Effect [38:50] The Most Intolerant Wins: The Dictatorship of the Small Minority by Nassim Taleb [40:29] Kosher Food [40:29] New Atheism [45:16] Reddit [45:26] Facebook [45:27] Starbucks [45:30] Dick’s Sporting Goods [46:00] Box Company [46:52] Google [56:42] Mutual Assured Destruction [01:02:04] JPMorgan Chase [01:09:00] Apple Inc. [01:09:30] Amazon [01:09:30] Uber [01:09:33] Instacart [01:09:33] Fat Tony [01:09:52] The National Football League (NFL) [01:18:36] Tesla [01:12:54] In-n-Out Burger [1:23:33] Chipotle [1:23:33] D'Souza rips apart smug leftist student over "white privilege" [1:27:30] Humanitarians of Tinder [01:33:17] Toms Shoes [01:33:45] Malaria nets [1:34:33] Sam Harris on Nassim Taleb “insufferable” quotation [1:43:10] The best podcast ever by Sam Harris [1:49:10] Russell Brand Podcast’s Under the Skin [1:49:10] Books mentioned 12 Rules for Life: An Antidote to Chaos by Dr. Jordan B. Peterson [00:39] (Nat’s notes) (Neil’s notes) (book episode) Antifragile: Things That Gain from Disorder by Nassim Taleb [01:04] (Nat’s notes) (book episode) Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Taleb [02:00] The Black Swan: The Impact of the Highly Improbable by Nassim Taleb [02:00] The Bed of Procrustes: Philosophical and Practical Aphorisms by Nassim Taleb [02:00] Happy Accidents: Serendipity in Modern Medical Breakthroughs by Morton A. Meyers [14:05] Charlie Munger: The Complete Investor by Tren Griffin [26:30] Merchants of Doubt: by Naomi Oreskes and Erik M. Conway [34:54] (Nat’s notes) (book episode) Gödel, Escher, Bach: An Eternal Golden Braid by Douglas R. Hofstadter [39:34] (Nat’s notes) (book episode) Leverage Points: Places to Intervene in a System by Donella Meadows [52:13] (book episode) Hiroshima Diary: The Journal of a Japanese Physician by Michihiko Hachiya [01:01:28] (Nat’s notes) (book episode) Genghis Khan and the Making of the Modern World by Jack Weatherford [01:37:03] A History of Private Life by Paul Veyne [01:40:39] Waking Up: A Guide to Spirituality Without Religion by Sam Harris [01:47:35] Lying by Sam Harris [01:47:35] People mentioned: Nassim Nicholas Taleb (Antifragile episode) Hillary Clinton [06:58] Steven Pinker [06:58] [1:35:59] Ayn Rand [07:54] Anne Hearst [24:52] Charles Murray [24:57] Aaron Levie [46:51] Donald Trump [01:06:40] Marco Rubio [01:07:22] Chris Christie [01:07:31] Jeff Bezos [01:11:58] Bill Gates [01:12:05] Mark Zuckerberg [01:12:14] J.K. Rowling [01:33:00] Alexander The Great [01:36:39] Jordan B. Peterson [01:41:32] (on this podcast) Sam Harris [01:41:32] Scott Adams [01:49:26] Russell Brand [01:49:47] Jocko [01:53:40] Show Topics 01:30 – Taleb's bibliography, his previous releases. Contrasts and relations between his previous works and Skin in the Game. A greater focus in philosophy and morals, rather than the mathematical focus of his other books. Skin in the game concept for business and non-business people. 06:38 – Taleb's use of criticism of other people, perhaps partially for publicity reasons. Criticizing people at your own weight vs needless harassment. The Ayn Rand effect. 08:50 – The books’ introduction. Academia vs real life. You can’t predict the behavior of a system by studying the behavior of individual elements within the system. Emerging qualities of complex systems. Academia back-explaining knowledge that’s created practically. Skin in the game for Roman architects and medicine scientists. 14:57 – True progress is only possible when you actually stand to lose something should you fail. Defining “rent-seeking” as opposite for “skin in the game”. Different types sorts of investments and whether they constitute rent-seeking. 19:25 – The contents of the book can become a lens through which you see the world. 20:03 – Sponsors. Get a shot of Four Sigmatic Mushroom Coffee mixed with MCT oil powder from Perfecto Keto. Follow our advice, we have skin in the coff… in the game. 20:59 – You can’t judge whether something is robust, if it can survive stressors, if you’re not at risk in case it can’t. The test of time. 23:30 – Business plans and their usefulness, or usefulness for procrastination. 24:54 – Book 2: A First Look at Agency. Advice, and knowing when to listen to it. Advice that’s helpful to the person offering it, rather than who’s being advised. Incentives and metrics under judgement. 26:50 – Judging actions by their intentions, rather than their effects. Nazism vs Communism. Diets, cholesterol, weight, and its effects on health as single elements of a complex system. 35:36 – Avoiding doctors when you have low-risks health issues. Prayer and religion developing related to health, and the high risk of medical procedures. The Placebo Effect. 39:20 – Book 3: That Great Asymmetry. Ant and ant colony metaphor. Predicting a complex system’s behavior through the behavior of singular elements. A small vocal minority affecting the behavior of large groups. The minority effect on holiday greetings and restaurant choices. 45:56 – Gun regulation, and changes in policy meant for advertising. Virtue signaling and what you do out of your beliefs, versus what’s done for public recognition. Standing up for your opinions even if, or specially if, it has social consequences. 50:57 – The free market, bottom-up or top-down models. Changing the parameters of individuals will not change the parameters of the emerging system. 52:57 – Book 4: Wolves Among Dogs. The trade off between security and freedom. Working as a dog, comfortably but restrained, versus working as a wolf, with much more freedom, but less safety. Tactics big companies use domesticating their employees. English manners as a way to domesticate lower classes. 00:59:39 – Suicide bombers and Mutual Assured Destruction. Reasoning and incentives in terrorists perspective, and how to discourage them to commit suicide. Sacrificing oneself and sacrificing the whole nation. 01:02:26 – Freedom and social media. Voluntarily adopting habits of the lower class as a signal of freedom. Nassim Taleb and Twitter. 01:05:53 – Book 5: Being Alive Means Taking Certain Risks. Politicians and relatability. Feeling like a politician is a real person, or simply a scripted facade. The case for Trump and his relatability. 01:08:36 – Resentment against people at the top who don’t have skin in the game, who are not really risking anything. Economic equality and what it truly means. Unfair barriers put up to keep people in the 1% when they might not really be earning their spot anymore. Florence example, where a handful of  families has kept the power for more than 5 centuries. 01:14:38 – Peer approval, the minority effect, and real freedom. 01:17:06 – Book 6: Being Alive Means Taking Certain Risks. Between two people who are equally qualified, the person who looks less “the part” is a wiser choice, as they have had to overcome more challenges to get to where they are. Quarterbacks vs common sense. Elitism and food: steaks, fast-food, and wine. Big mansions and living away from everything. 01:27:38 – Virtue signaling. Protesting or complaining without putting action behind your beliefs. Charity that’s mostly for show and its negative consequences. 01:35:12 – History and violent events: decreasing in frequency, but increasing rapidly in intensity. War, urban violence, and the magnitude of violence. Life that isn’t covered in history outside of big, dramatic events. 01:41:26 – Book 7: Deeper Into Agency. Religion, Beliefs, and Skin in the Game. Sam Harris, Nassim Taleb, and Jordan Peterson. Religion, science, and scientism. 01:49:22 – Sam Harris’ podcast and its infamous guests. 01:50:38 – Book 8: Risk and Rationality. The last section of the book, and concepts in it that are being explored in-depth by Taleb for the first time. “Skin in the Game” as an entry point for Taleb’s work. 01:52:26 – You don’t necessarily need to know what is the reason for something, even if you know that there is a reason. 01:54:31 – Ergodicity and non-ergodicity, or assembled probability vs individual probability. Paranoia and risk reversion. Risk taking and relative risk rather than objective risk. Bathtubs’ and bullets’ potential to scale to kill people. Terrorism, gun violence and non-multiplicative risks. 02:01:35 – Ties back to Taleb’s previous work. Static and dynamics probabilities and life expectancy. 02:05:37 – Wrapping up and sponsor time! Make sure to grab your own copy of “Skin in the Game” through our Amazon sponsored link. To help the podcast maintain the freedom of the market, check out as well our sponsors: Kettle & Fire for all your delicious bone broth needs, with up to 30% OFF! We recommend Perfecto Keto’s coffee-flavored exogenous ketones. Four Sigmatic: for your mushroom coffee and all your other mushroom needs. And as always, don’t forget to check out our Support page. If you enjoyed this episode, don’t forget to subscribe at https://madeyouthinkpodcast.com    

Tren has studied the most successful people on Earth and distilled their wisdom into a new book. I love reading his blog posts and his commitment to concise communication.   Tren Griffin is an executive at Microsoft. Before joining Microsoft, Tren was a partner at the private equity firm Eagle River which makes investments telecommunications businesses and startups. He previously worked as a consultant in Australia and Korea. He writes a weekly blog and has published 7 books.   Attend my one-day conference January 27th in Pittsburgh. Learn more here.   Tren’s Challenge; Study Charlie Munger and be a learning machine. Any year that you don’t reject a view you held, is a wasted year.   Tren’s Book A Dozen Lessons for Entrepreneurs by Tren Griffin   Connect with Tren Twitter Website   If you liked this interview, check out previous episodes with Wealthfront founder Andy Rachleff  and Li Jiang, and angel investor and venture capitalist. Subscribe on iTunes | Stitcher | Overcast | PodBay

As Tren Griffin will explain, the entrepreneurs founding startups with the biggest impact are missionaries who are laser focused on implementing the insight at the core of their business. Mercenaries are driven by monetary rewards and fame. Mercenaries seldom have the necessary desire to change the world, a desire that would otherwise enable them to persevere through hardship and create a world-changing business.

Today's conversation with Tren Griffin was recorded live at the Lean Startup Conference where gave a talk about learning from failed startups and the world's most "unlean" startup that he was a part of. He also talked about applications of lean startup that corporations often overlook. Find Tren's blog at 25iq.com and follow him on twitter @trengriffin. He co-authored "Charlie Munger: The Complete Investor" which is available on Amazon. For information regarding your data privacy, visit acast.com/privacy

Tren Griffin works at Microsoft.  Previously, he was a partner at Eagle River, a private equity firm controlled by Craig McCaw, with investments in the telecommunication and software industries, including McCaw Cellular, Nextel, Nextel Partners, XO Communications, Teledesic, and many start-up firms.  His early career included five years working and living as a business consultant in Korea and Australia.  Tren blogs about investing and other topics at 25iq.com.  He is the author of The Global Negotiator: Building Strong Business Relationships Anywhere in the World; Korea, The Tiger Economy; Taiwan's Economy; Ah Mo: Legends from the Northwest; and More Ah Mo.

Tren Griffin is a Senior Director at Microsoft, doing strategy, competitive analysis and business development, with a focus on software platforms and business models. He creates and helps execute "go to market" plans, working closely with the engineering and marketing teams. Before that, he was a partner at Eagle River, a private equity firm controlled by Craig McCaw with investments in software, communications and other technology industries including Nextel, Nextel Partners and many start-up firms. During some of this time served as an officer of portfolio companies XO Communications (VP Strategy) and Teledesic (VP Business Development).Tren recently released his new book, Charlie Munger: The Complete Investor. The book presents the essential steps of Munger's investing strategy, condensed from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham's value-investing system, Munger's approach is straightforward enough that even novices can apply it to their portfolios. Not simply about stock picking, it's about cultivating mental models for your whole life, but especially for your investments.Key Takeaways:[3:57] What you're looking for as a value investor[8:42] How FOMO is hurting investors and how value investing avoids it[13:35] If the corruption on Wall Street is impacting the Munger's and Buffett's of the world[19:09] If the level of intelligence and activity on Wall Street makes it impossible for the average investor to have an edge[24:03] Why the Warren Buffett's of the world don't care what the market is doing right now and in the near futureWebsites Mentioned:www.25iq.comwww.twitter.com/trengriffin

Tren Griffin is a Senior Director at Microsoft, doing strategy, competitive analysis and business development, with a focus on software platforms and business models. He creates and helps execute "go to market" plans, working closely with the engineering and marketing teams. Before that, he was a partner at Eagle River, a private equity firm controlled by Craig McCaw with investments in software, communications and other technology industries including Nextel, Nextel Partners and many start-up firms. During some of this time served as an officer of portfolio companies XO Communications (VP Strategy) and Teledesic (VP Business Development).Tren recently released his new book, Charlie Munger: The Complete Investor. The book presents the essential steps of Munger's investing strategy, condensed from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham’s value-investing system, Munger’s approach is straightforward enough that even novices can apply it to their portfolios. Not simply about stock picking, it's about cultivating mental models for your whole life, but especially for your investments.Key Takeaways:[3:57] What you're looking for as a value investor[8:42] How FOMO is hurting investors and how value investing avoids it[13:35] If the corruption on Wall Street is impacting the Munger's and Buffett's of the world[19:09] If the level of intelligence and activity on Wall Street makes it impossible for the average investor to have an edge[24:03] Why the Warren Buffett's of the world don't care what the market is doing right now and in the near futureWebsites Mentioned:www.25iq.comwww.twitter.com/trengriffin

In this episode, the Investors talk to Tren Griffin about his new book on Charlie Munger. Munger is Warren Buffett's Vice Chairman at Berkshire Hathaway and one of the most influencial people in shaping Buffett's investment approach.Click here to get full access to our show notes.

Tren Griffin doesn't know the current stock price of Berkshire Hathaway and says Warren Buffett probably doesn't either. Day-to-day ups and downs in the market don't affect feasible, long-term investments. Value investing, traditionally known as buy and hold investing, approaches investing differently than most low fee indexes. It encourages rational thinking, interest based buying and finding the price mistakes in the market.  Early Bird pricing for the next Meet the Masters event is now available.   Key Takeaways: Jason's Editorial: [1:29] Orlando Property Tour & Creating Wealth Seminar coming up [3:06] What I like about Warren Buffett [4:37] Know this about the properties on our site [9:39] The Walmart documentary example [14:11] Every company has 3 primary audiences - suppliers, stakeholders & customers [16:00] Send me an email with good quality sitcoms! [18:06] Meet the Masters - Early bird pricing available now! [18:30] Dubai in February with the Venture Alliance   Tren Griffin Guest Interview: [19:35] Why write about Charlie Munger [20:56] 4 principles of value investing [24:11] Munger philosophy of decision-making [25:27] 25iq [26:34] The key to investing is to find a mistake - FOMO [31:40] Markets are difficult to predict in the short term [33:37] Aligning investments with interests [35:51] Are you willing to do the work required by value investing [37:38] The circle of confidence - become a specialist in one area [39:50] Munger/Buffett fundamental - Get Rich Slow [44:14] Berkshire stock never splits [46:12] Following Tren [48:03] You can have a life when you are a value investor   Mentions: JasonHartman.com Charlie Munger: The Complete Investor reviews@jasonhartman.com Venture Alliance Mastermind 25iq @trengriffin Flash Boys

Legendary investor Charlie Munger (Warren Buffett's financial partner and vice chairman of Berkshire Hathaway) invokes a set of interdisciplinary "mental models" involving economics, business, psychology, ethics, and management to keep emotions out of his investments and avoid the common pitfalls of bad judgment. In a new book focused on lessons learned from Munger, Tren Griffin (who works at Microsoft and has long focused on lessons learned from many investors) shares insights on decision making and the psychology of human judgment -- especially as it applies to investing and risk. But Griffin believes that these lessons can be applied to all of us in our daily lives, not just by investors. (He also argues that investing may be one of the last liberal arts). So how then do we channel our inner Munger? In this episode of the a16z Podcast, we discuss how to think about thinking; why the best investors and business leaders spend more time on what they DON'T know; and how the best way to be smart is to ... not be stupid.