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
Niraj Shah - Developing Every Skill - [Invest Like the Best, EP. 252]
Bored Ape Yacht Club - [Web3 Breakdowns, EP. 1]
Will Marshall - Indexing the Earth - [Invest Like the Best, EP. 251]
Roelof Botha - Sequoia’s Crucible Moment - [Invest Like the Best, EP. 250]
Sarah Friar - Building the Local Graph - [Invest Like the Best, EP. 249]
Universal Music Group: The Gatekeepers of Music - [Business Breakdowns, EP. 32]
Alex Rampell - Investing in Operating Systems - [Invest Like the Best, EP. 248]
Sam Bankman-Fried - Creating a Perfect Market - [Invest Like the Best, EP. 247]
Nick Neuman - Becoming Your Own Bank - [Invest Like the Best, EP. 246]
Devin Finzer - An Everything Store for Digital Assets - [Founder’s Field Guide, EP. 53]
Jenny Lefcourt - The Go-to-Market Motion - [Invest Like the Best, EP. 245]
Dave Girouard - Making Better Loans - [Founder’s Field Guide, EP. 52]
Jay Hoag - Calibrating Market Adoption - [Invest Like the Best, EP. 244]
Gina Bianchini - Helping Creators Build Communities - [Founder’s Field Guide, EP. 51]
David Fialkow - Paint Outside the Lines - [Invest Like the Best, EP. 243]
Justin Waldron - The Future of Social Gaming - [Founder’s Field Guide, EP. 50]
Daniel Ek - Enabling Creators Everywhere - [Invest Like the Best, EP. 242]
Gabby Dizon - Mapping the Metaverse Economy - [Founder’s Field Guide, EP. 49]
Scott Malpass - Building a Great Endowment - [Invest Like the Best, EP. 241]
Mike Maples, Jr. - A Playbook for Startups - [Founder’s Field Guide, EP. 48]
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