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
Will Thorndike - The Power of Long Holding Periods - [Invest Like the Best, EP.288]
Alok Vasudev - Searching for White Space - [Invest Like the Best, EP.287]
Matthew Ball - A Manual to The Metaverse - [Invest Like the Best, EP.286]
TransDigm: Foundations with Nick Howley [50X, EP.1]
Alice Bentinck - Building a Start-Up Machine - [Invest Like the Best, EP.285]
Jess Lee - Designing Investment Products - [Invest Like the Best, EP.284]
Kenneth Stanley - Greatness Without Goals - [Invest Like the Best, EP.283]
Lydia Jett - Investing in E-commerce - [Invest Like the Best, EP.282]
Josh Wolfe & Chris Power - Factories of the Future - [Invest Like the Best, EP.281]
Martin Casado - The Past, Present, and Future of Digital Infrastructure - [Invest Like the Best, EP.280]
Aswath Damodaran - Making Sense of the Market - [Invest Like the Best, EP. 279]
Anduril: Building the Future of Defense - [Business Breakdowns, EP. 59]
Tobi Lütke - Embrace the Unexpected - [Invest Like the Best, EP. 278]
Tyler Cowen & Daniel Gross - Identifying Talent - [Invest Like the Best, EP. 277]
Jeff Jordan - Building & Investing in Marketplaces - [Invest Like the Best, EP. 276]
Eric Glyman - Reimagining Corporate Finance - [Invest Like the Best, EP. 275]
Dmitry Balyasny - Building a Better Model - [Invest Like the Best, EP. 274]
Henry Ward - Transforming Private Markets - [Invest Like the Best, EP. 273]
Alexandr Wang - A Primer on AI - [Invest Like the Best, EP. 272]
Antonio Gracias - Pro-Entropic Investing - [Invest Like the Best, EP. 271]
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