Invest Like the Best with Patrick O’Shaughnessy
Business:Investing
Today, we’re releasing a conversation between John Collison and Charlie Munger. We've had this interview with Charlie scheduled to air for a while, coinciding with Stripe Press's launch of the amazing reprint of Poor Charlie's Almanack, which is released today.
We were all stunned last week when we heard the news of Charlie's passing, but having consulted with those close to him, everyone agreed that he'd want us to release this interview. I'm thankful to be able to learn from him just one more time in this interview. Please enjoy, and may Charlie Rest in Peace.
Order your copy of Poor Charlie’s Almanack
Worldly wisdom episodes in honor of Charlie Munger:
Daryl Morey: Systems Thinking in Sports
Boyd Varty: The Art of Tracking
Sam Hinkie: Find Your People
David Senra: Passion & Pain
Priya Parker: The Art of Gathering
Charlie Songhurst: Lessons from Investing in 483 Companies
For the full show notes, transcript, and links to mentioned content, check out the episode page here.
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Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Show Notes
(00:03:52) - (First question) - The fixation on evaluating business quality
(00:05:58) - Learning the big ideas across various disciplines
(00:10:03) - The issue of adverse selection in legal services
(00:11:42) - Societal solutions for the opioid crisis
(00:17:34) - Reasons for not investing in Amazon
(00:20:38) - Explaining Costco's model
(00:29:08) - Discussing the increasing challenges in investing
(00:32:08) - Ingredients for long-term success in business
(00:33:18) - Debating cryptocurrency
(00:37:37) - Offering guidance for navigating a potential recession
(00:38:56) - Reflecting on the state of American society
(00:45:20) - Sharing a passion for architecture
(00:54:13) - “Win-win” business
(00:57:53) - Countering arguments against capitalism
(00:60:42) - The origins of Poor Charlie's Almanack
(01:05:14) - Building a productive partnership
(01:08:55) - Opining on the SEC
(01:12:22) - Highlighting investment concerns
(01:16:31) - Reasons for optimism about China
(01:32:14) - The unique aspects of Berkshire Hathaway
Dev Ittycheria - The Database Evolution - [Invest Like the Best, EP.373]
Nico Wittenborn - Finding the Adjacent Possible - [Invest Like the Best, EP.372]
Mitch Rales: The Art of Compounding - [Art of Investing, Forever Episode]
Marc Lasry - Making Bucks in Credit and Sports - [Invest Like the Best, EP.371]
Bill Gurley & Michael Mauboussin - Putting Theory into Practice - [Invest Like the Best, EP.370]
Tim Ferriss - Curating Curiosities - [Invest Like the Best, EP.369]
Ken Langone - The American Dream - [Invest Like the Best, EP.368]
Robin Dunbar - Optimizing Human Connection (Dunbar's Number) - [Invest Like the Best, EP.367]
Sean Feeney - Reinventing the Restaurant Business - [Invest Like the Best, EP.366]
Dave Fontenot - The Monastery of Code - [Invest Like the Best, EP.365]
Anne-Marie Peterson - The Capital System - [Invest Like the Best, EP.364]
Aravind Srinivas - Building An Answer Engine - [Invest Like the Best, EP.363]
Ali Hamed - Building an Investment Firm - [Invest Like the Best, EP.362]
Cyan Banister - Investing for a Higher Purpose - [Invest Like the Best, EP.361]
Danny Meyer - The Power of Hospitality - [Invest Like the Best, REPLAY]
Chuck Akre - The Three Legged Stool - [Invest Like the Best, REPLAY]
Alex Telford - Unlocking Innovation in Pharma - [Invest Like the Best, EP.360]
Madhavan Ramanujam - How to Price Products - [Invest Like the Best, REPLAY]
Daryl Morey - Systems Thinking in Sports - [Invest Like the Best, REPLAY]
Michael Ovitz - Knowledge Is Power - [Invest Like the Best, EP.359]
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