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
Dr. Peter Attia - The Portfolio to Live Longer - [Invest Like the Best, EP.325]
Scott Davis & Rob Wertheimer - Lessons from the Industrial Titans - [Invest Like the Best, EP.324]
Sam Hinkie, Boyd Varty, Charlie Songhurst - Trail Magic - [Invest Like the Best, EP.323]
David Senra - Passion & Pain - [Invest Like the Best, Forever Episode]
David Einhorn - The Long and Short of Investing - [Invest Like the Best, EP.322]
Avi Goldfarb - The Economic Impact of AI - [Invest Like the Best, EP.321]
Auren Hoffman - A Deep Dive on Data - [Invest Like the Best, EP.320]
Trae Stephens - Find Good Quests - [Invest Like the Best, EP.319]
Doug Leone - Lessons from a Titan - [Invest Like the Best, EP.318]
Tim Urban - Idea Labs and High-Rung Thinking - [Invest Like the Best, EP.317]
Dan Rose - How Stunning Founders Operate - [Invest Like the Best, EP.316]
Jeff Green - Modernizing Advertising - [Invest Like the Best, EP.315]
Carl Kawaja - Dealing with Regime Change - [Invest Like the Best, EP.314]
Daryl Morey - Systems Thinking in Sports - [Invest Like the Best, EP.313]
Miles Grimshaw - The DNA of Software Companies - [Invest Like the Best, EP.312]
John Fio - Creating Magic for Consumers - [Invest Like the Best, EP.311]
Amjad Masad - The Future of Software Creation - [Invest Like the Best, EP.310]
Rebecca Lynn - Finding Your Customers - [Invest Like the Best, EP.309]
Michael Mauboussin - Sharpening Investor & Executive Toolkits - [Invest Like the Best, EP.308]
Jeremiah Lowin: Explaining the New AI Paradigm - [Invest Like the Best, EP.307]
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