What I’ve Learned From Warren Buffett & Charlie Munger w/ Chris Davis (RWH035)
ฝัง
- เผยแพร่เมื่อ 27 ต.ค. 2023
- William Green talks with Chris Davis, a renowned investor at Davis Advisors who also serves on Berkshire Hathaway’s board of directors. Here, Chris shares powerful lessons he’s learned from his mentors-Warren Buffett & Charlie Munger-about building financial resilience, learning from our mistakes, avoiding our weaknesses, harnessing trust, & flourishing as we age.
IN THIS EPISODE, YOU’LL LEARN:
- What Chris Davis has learned from Buffett & Munger about aging well.
- Why many successful investors fail to build good relationships.
- Why trust is a superpower in business & life.
- How Buffett & Munger consciously avoid their weaknesses.
- What Buffett learned from Dale Carnegie.
- Why Chris views Jeff Bezos as “the LeBron James of capitalism.”
- What it’s like to hear Buffett talk at Berkshire’s board meetings.
- How Buffett thinks about risk & resilience.
- How Munger inspired Chris to be radically open about his mistakes.
- How to run an organization that breeds excellence.
- What Chris learned from Cardinal John Newman.
- What Buffett teaches about friendship, generosity, & kindness.
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📖 BOOKS MENTIONED:
- How to Win Friends & Influence People by Dale Carnegie: amzn.to/3QvcdNL
- How to Stop Worrying & Start Living by Dale Carnegie: amzn.to/3QwPgtE
- Titan: The Life of John D. Rockefeller by Ron Chernow: amzn.to/3s4oHm4
- Richer, Wiser, Happier by William Green: amzn.to/3EC7aUT
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On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.
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Do you have something against getting Peter Lynch for a conversation like this? We desperately need one.
I'd love to see Peter Lynch on the show.
Yes please 🙏
Prob a hard guest to book
One of the best guest one could have. Chris talks straight without any mumbo-jumbo. No nonsense advice or excuses. Very humble and kind person.
Glad you liked the episode!
Mr Green, you are one of the best interviewers that i have ever listened to. Im hooked! Thank you.
Glad you enjoyed it! ♥
Chris Davis is a national treasure.
Wow! This is pure gold. Thanks both for sharing your time and these lessons of life with us
Our pleasure! 🙌
William is the man
RWH is my type of Sunday church
Hallelujah! Thanks a lot for listening. Warm wishes, William
Brilliant wise insights. Great interview. Thank you.
Our pleasure!
Omg tq so much for the interview
This is an incredible conversation! Thanks for doing this ❤
Our pleasure! 🙌
Wisdom and optimism. I enjoyed this one a lot.
Glad you enjoyed it!
Great guests and William is a great host. He helped inspire me to write A Teenager’s Guide on how to Invest Like Warren Buffet and Charlie Munger.
That's amazing to hear!
Wow, excellent interview. I actually watched the entire video.
Appreciate the support! 🙏
Thanks so much! Warm wishes, William
I really appreciate you giving us these gems for podcast. Thanks a ton !
Our pleasure!
Thanks so much! Warm wishes, William
Noble Eightfold Path Investing:
1. Right Views (logical concept, business model, NetROCI, CROCI, Balance Sheet Anatomy)
2. Right Thinking Process (evaluation, valuation)
3. Right Speech (decision making)
4. Right Action (buy excellent business with fair price)
5. Right Livelihood (keep & wait for intrinsic and dividend compoundings)
6. Right Diligence (reinvest dividend)
7. Right Determined Mind (stick to the six paths' standpoints, unmoved by enticing wrong concepts)
8. Right Concentration (don't diverse)
Thank you for blessings us
Thanks for watching!🙌
Excellent episode. Appreciate that Davis has the conviction to stick to what it knows rather than chasing fads.
Many thanks!
Really excellent conversation! Deeply thoughtful.
Thank you so much!
@@WeStudyBillionaires Thank YOU and keep up the excellent content.
Fantastic content
Glad you think so!
Funny - I want to work from home because I’m more efficient - less people coming in and bothering me and breaking my concentration, I am less tired not spending 2 hours on the road, not stressed because I don’t deal with idiot drivers everyday.
cut bank stock exposure in a rising interest rate environment!
Davis are originally from wales 🏴
Loved the concept of 10k days. An entirely different time-interval to consider as you grow through life
Me, too. I found it very clarifying. I'd better make good use of the final 10,000 days, if that's what they are... Warm wishes, William
i found it to be a hot take on restating the obvious. Life in thirds instead of eighths.
Big whoop. Changes nothing objective.
The idea of intervals is interesting. In music the same piece written in different (say 4/4 vs 2/2) time signature affects the way you count the rhythm in your head, which in turn affects the forward energy of the music. Because less intervals result in less counting, so energy spent counting is redirected on energy in playing.
In other words a small shift in how we perceive the passage of time has bigger implications.
@@ghulamdastgir9644 so does LSD :)
Very insightful video. Thanks for the content!! If he works for Buffett. Buffett has rubbed off on his way of speaking 😅
Thanks so much for tuning in!
Thanks a lot, Jake! Warm wishes, William
You can say craftsman. That’s the correct word. It’s okay. You don’t have to be PC. Really.
I love this video-very helpful for my business and my life.
I agree with you on this NBA analogy but my argument to you would be - if the lowest paid player in the NBA is lazy and doesn’t show up for work - he will get let go and will go poor. In capitalism, there are many who don’t want to work and expect others to hand out something to them just for being alive - doesn’t happen in pro sports any more than it happens in capitalism. 1 hour 5/6 min in. Also, many in capitalism took risk to get there but many will never take that risk. I’m all in favor of helping out those that actually need help and making schools, etc., equally good but that would require the ability to discipline those that are disruptors and not allow them to take over and then it just becomes a daycare!
Yeah, Charlie isn’t warm and fuzzy. I can take that because I like direct and not to waste time but sometimes he just sound mean and unhappy.
Chris should be embarrassed that he receives more compensation as compared with other Berkshire board members. I hope he insists is compensation be reduced accordingly. As a voting shareholder, I will be watching.
Hi @edgibbs3229. Thanks for your comment and for watching this conversation. In fairness to Chris, Fortune magazine says that independent board directors are typically paid an average of $325,000 per year, and they tend also to be given generous stock option awards. By contrast, Chris gets paid the nominal sum of $7,000 a year to be a director of Berkshire, gets no stock option awards, and has bought about $20 million worth of Berkshire stock out of his own pocket! As a Berkshire shareholder, I'm delighted to have him on the board of directors, looking out for the interests of fellow shareholders like you and me and seeking earnestly to preserve this unique corporate culture! Warm wishes, William
Bought
But how do you treat your relatives?
OMG - my work is an expert at disrupting any momentum you have in your job.
Who can trust their bank manager!? Banks are hopeless.
This conversation was going well until he thinks that BTC is a flawed system
Thanks to Charlie, i lost moneybig time on Baba..
Try being responsible for your own decisions..
He made a big mistake on that one ! But if you go around a lot clowns cheering it will be back strong is time to buy! They don’t understand is not the business is the government that the business have controlling them
My crypto bag is outperforming Berkshire
This boomer is so out of touch
Omg! I think I'm a loser.