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
John Harris - Resilience and Imagination - [Invest Like the Best, EP. 230]
Florian Hagenbuch and Mate Pencz - Everything Will Be Bought Online – [Founder’s Field Guide, EP. 37]
Gabriel Leydon - Designing Digital Economies - [Invest Like the Best, EP. 229]
Assaf Wand - Innovation in Static Industries – [Founder’s Field Guide, EP. 36]
Dennis Lynch - Delivering Alpha in Adapting Markets - [Invest Like the Best, EP. 228]
Henrique Dubugras - Building the Financial Center of Gravity – [Founder’s Field Guide, EP. 35]
Justin Fishner-Wolfson - Secondary Investing in Private Markets - [Invest Like the Best, EP. 227]
Peter Reinhardt - Learning How to Sell – [Founder’s Field Guide, EP. 34]
Brent Beshore - Learnings from a Year of Unexpected Events - [Invest Like the Best, EP. 226]
Jeremy Cai - Manufacturer to Customer – [Founder’s Field Guide, EP. 33]
Eli Dourado - Frontiers for Productivity - [Invest Like the Best, EP. 225]
James Reinhart – Lessons in Process Power – [Founder’s Field Guide, EP. 32]
Andrew Sugrue - Investing in Paradigm Shifts - [Invest Like the Best, EP. 224]
Alyssa Ravasio - Supply, Demand, and the Outdoors - [Founder’s Field Guide, EP. 31]
Josh Buckley - Identifying Legendary Start-ups - [Invest Like the Best, EP. 223]
Thomas Tull - New Physics of Business - [Founder’s Field Guide, EP. 30]
Paul Enright - The Buy Side Primer - [Invest Like the Best, EP. 222]
Trevor McFedries - Building Web 3.0 - [Founder’s Field Guide, EP. 29]
Chris Dixon - The Potential of Blockchain Technology - [Invest Like the Best, EP. 221]
Shopify: The E-commerce On-Ramp - [Business Breakdowns, EP. 01]
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