How to Build Enduring Wealth w/ Guy Spier (RWH042)

Publicado 2024-03-16
William Green chats with renowned hedge fund manager Guy Spier, who has run the Aquamarine Fund since 1997. Guy talks about compounding wealth over decades, lessons from Warren Buffett, and his own mistakes, how to succeed by avoiding poor investment behavior, building the right relationships, and recognizing our weaknesses.

IN THIS EPISODE, YOU’LL LEARN
00:00:00 - Intro

00:01:09
- Why it’s so intense for Guy Spier & William Green to collaborate.
- How telling the truth changed Guy’s life.
- Why the Global Financial Crisis terrified him.

00:22:42
- Why it’s hard to invest rationally in the real world of chaos & confusion.
- How Guy deals with his emotions when making investment decisions.
- Why his default position is to hold his stocks indefinitely & resist meddling.

00:37:06
- Why he didn’t sell his stake in Alibaba.
- Why he’s pleased with & disappointed by his investment returns.
- How excessive risk destroyed a fund manager he once knew.

00:55:39
- What Guy learned from investing in a company that went bankrupt.
- Why his mission is long-term compounding without catastrophe.
- What the fastest skiers can teach us about success & survival.

01:02:53
- What we can learn from Warren Buffett about financial resilience. 
- What dumb investment behavior Guy Spier strives to avoid.
- Why we should be especially wary of leverage.

01:09:28
- What type of companies he shuns.
- Why good relationships are a key to financial & personal success. 
- Why it’s vital to find “friends along the path” who support us emotionally.

01:36:05
- Why it’s helpful to shine a light on our own weaknesses.
- How he handles painful, contentious conversations.
- How to engage with people whose beliefs & experiences differ from ours.

02:20:29
- What role money does—or doesn’t—play in a rich & meaningful life. 
- What Guy learned from Warren Buffett’s exercise of writing your own obituary.
- How reading great literature can make you wiser & happier.

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▶️ RELATED EPISODES:
- Investing Prudently In Perilous Times w/ Guy Spier:    • Investing Prudently In Perilous Times...  
- 5 Life Lessons from Guy Spier | The Education of a Value Investor:    • 5 Life Lessons from Guy Spier | The E...  
- The Education Of A Value Investor By Guy Spier:    • The Education Of A Value Investor By ...  
- Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis:    • Celebrating Charlie Munger w/ Mohnish...  
- What I’ve Learned From Warren Buffett & Charlie Munger w/ Chris Davis:    • What I’ve Learned From Warren Buffett...  
- How To Be Happy, Calm & Focused w/ Tsoknyi Rinpoche & Daniel Goleman:    • How To Be Happy, Calm & Focused w/ Ts...  

🎧 Listen to our episodes here: link.chtbl.com/TIP-RWH

🖊️ Access the transcript and learn more about the guest here:
- www.theinvestorspodcast.com/richer-wiser-happier/s…
- www.theinvestorspodcast.com/richer-wiser-happier/s…

📖  BOOKS MENTIONED:
- The Education of a Value Investor by Guy Spier: amzn.to/3Vih2wM
- Richer, Wiser, Happier by William Green: amzn.to/3O7gkOg
- Gandhi: An Autobiography by Mahatma Gandhi: amzn.to/3Tegp4C
- Ergodicity by Luca Dellanna: amzn.to/3TgYnP7
- Power vs Force by David Hawkins: amzn.to/3T9D6a2
- The Developing Mind by Daniel Siegel: amzn.to/3vbqNC5
- Doing Imago Relationship Therapy in the Space-Between by Harville Hendrix: amzn.to/3IAC9Te
- In Search of Lost Time by Marcel Proust: amzn.to/4ceRGpp

Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀

💡 OTHER RESOURCES
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🌍 Website: www.theinvestorspodcast.com/richer-wiser-happier/ 

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❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebro

Todos los comentarios (21)
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  • @scottinguito5997
    Wow, this is far more than investing advice. It's wisdom for life. "Now that you have money, are you going to have money complicate your life or simplify your life?"
  • @milmac5052
    Two absolutely best human beings and great minds. Very informative piece. Thanks.
  • @Darcy20003
    Listened to this multiple times already, great conversation and I love the way you both speak, elaborate, Authentic and informative in so many ways.
  • @AS-yg5dt
    Enlightening discussion - on investing, relationships, life and so much more - thank you both for being so open and candid. A real gem 👍🏼🙏🏽
  • @ngzixian2921
    Guy and William, hearing this all the way from Singapore. thanks for this beautiful conversion. i loved the part where Guy’s funds could trapped in Bears and it just reminds us that, at any given moment, our lives could dive into entropy. and i really love the ambience of podcast :) looking forward to part 2
  • @obrYo
    Thank you both so much for this. It was a pleasure to listen to.
  • @value_investing
    Really enjoyed the talk while you two besties just sitting there chatting away. One of the greatest things about Guy is that in a world where almost everyone wears some sort of mask, he is the one who strives to remove all masks and be true to others, and most importantly, to himself. You're truly respected!
  • @Dividendflywheel
    Guy Spier is a very honest man. There are few men like him in the asset management business. If your goal is wealth preservation then his conservative portfolio and strategy works. If however you are in the accumulation phase where “portfolio growth” is the priority then I would look at other fund managers. This in no way diminishes what Mr Spier is doing. If you are 70 years old, and need 4% of your portfolio to meet your annual expenses in retirement. The 9% he generates is more than sufficient. Younger investors might need higher consistent returns to build their nest egg
  • @royjones59344
    Really enjoyed the video. Creating an environment in which you can operate optimally is a great insight.
  • @AmArJoT0o
    Thanks for sharing this conversation:)
  • @PradeepKanwar
    Brilliant & touching. Better understood by those with similar age & experiences
  • @gmgabrielmoura
    What a treat of an episode! Guy’s book did a lot for me and many others so thanks William for putting in those intense 3 months in it!
  • @lulo06
    Thank you both for sharing life wisdom. I cant help but laugh when I see that after this long discussion where both gentlemen are truly opening themselves to the audience, most comments are about the return on investment.
  • @samsocial7513
    It is very nice. Love William, empathy is beautiful. Love Guy too, very sincere.
  • @foeppel
    This was incredible! Brought me back to Guy’s book. William and Guy should write more books together. When they were talking about what they should be remembered for I was thinking ‘You’re doing it right now and you don’t know it!’ They uncover the spiritual in the pursuit of the profane. Their deep friendship, connection through investing, and pursuits of enlightenment are really quite a unique combination. Perfect for those of us who can’t grok becoming a munk or human rights activist but want spiritual development all the same. Thanks as always @richerwiserhappier @GSpier12
  • @luispaz6908
    Whoopi Green. 😂 I love it. Omg, just started and its already great. 🤣🙏🏼