In 1985, Warren Buffett had to make an incredibly difficult decision. Which was whether to shut down the textile business Berkshire Hathaway — the original business Warren acquired, which was where Berkshire got its name. In today's episode, I break down that decision and why he ultimately closed the business. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/171. Watch and listen. Watch this episode...

In 1985, Warren Buffett had to make an incredibly difficult decision. Which was whether to shut down the textile business Berkshire Hathaway — the original business Warren acquired, which was where Berkshire got its name. In today's episode, I break down that decision and why he ultimately closed the business. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/171. Watch and listen. Watch this episode...

Paul Graham's essay on "How To Do Great Work" begins with the following words: If you collected lists of techniques for doing great work in a lot of different fields, what would the intersection look like? I decided to find out by making it. Partly my goal was to create a guide that could be used by someone working in any field. But I was also curious about the shape of the intersection. And one thing this exercise shows is that it does have a definite shape; it's not just a point labelled...

Paul Graham's essay on "How To Do Great Work" begins with the following words: If you collected lists of techniques for doing great work in a lot of different fields, what would the intersection look like? I decided to find out by making it. Partly my goal was to create a guide that could be used by someone working in any field. But I was also curious about the shape of the intersection. And one thing this exercise shows is that it does have a definite shape; it's not just a point labelled...

In this conversation, Daniel Scrivner shares his favorite quotes and wisdom from Charlie Munger, the vice chairman of Berkshire Hathaway. The conversation covers various topics, including the power of incentives, the importance of learning from Munger, value investing and Benjamin Graham, eliminating mistakes, long-term investing, keeping cash, the fallibility of financial companies, recognizing reality, waiting and patience, maximizing variables in business, good businesses vs bad...

In this conversation, Daniel Scrivner shares his favorite quotes and wisdom from Charlie Munger, the vice chairman of Berkshire Hathaway. The conversation covers various topics, including the power of incentives, the importance of learning from Munger, value investing and Benjamin Graham, eliminating mistakes, long-term investing, keeping cash, the fallibility of financial companies, recognizing reality, waiting and patience, maximizing variables in business, good businesses vs bad...

This conversation provides an overview of Charlie Munger's life, career, and investment philosophy. It explores Munger's role in shaping Berkshire Hathaway and his approach to investing in wonderful businesses at fair prices. Munger's background and early exposure to business are discussed, as well as his education and early career in law. The conversation also covers Munger's partnership with Warren Buffett and their investment strategies. Munger's investments in Blue Chip Stamp and...

This conversation provides an overview of Charlie Munger's life, career, and investment philosophy. It explores Munger's role in shaping Berkshire Hathaway and his approach to investing in wonderful businesses at fair prices. Munger's background and early exposure to business are discussed, as well as his education and early career in law. The conversation also covers Munger's partnership with Warren Buffett and their investment strategies. Munger's investments in Blue Chip Stamp and...

“What you need to do, I think, is constantly update your thesis as you go, which can allow for longer holding periods, because things do change. And at the same time, I go into investments with a multi-year horizon—but my thesis might be disproven fairly quickly.” – Dan Roller We explore investing in buy-and-build compounders in public markets. We’re joined by Dan Roller, Founder and CIO of Maran Capital. Chapters (00:00:00) – Introduction (00:01:50) – MOI Global and Dan’s start in the...

My favorite lessons on investing from Berkshire Hathaway's shareholder letters. All taken from "The Essays of Warren Buffett" by Lawrence Cunninghuman. Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific Chapters (00:00) Introduction (03:01) Lesson 1: Seek to invest in businesses with excellent economics, able and honest management, at sensible prices. That’s the magic formula. (07:29) Lesson 2: Don’t be afraid to let a few investments grow to represent a large portion of your...

My favorite lessons on investing from Berkshire Hathaway's shareholder letters. All taken from "The Essays of Warren Buffett" by Lawrence Cunninghuman. Get Friday 5 delivered to your inbox every Friday at 8 AM Pacific Chapters (00:00) Introduction (03:01) Lesson 1: Seek to invest in businesses with excellent economics, able and honest management, at sensible prices. That’s the magic formula. (07:29) Lesson 2: Don’t be afraid to let a few investments grow to represent a large portion of your...

The Essays of Warren Buffett by Lawrence Cunningham For over 50 years, Warren Buffett has written an annual letter to Berkshire Hathaway's shareholders. Many people set it as a goal to read all of Warren’s shareholder letters chronologically. Which is certainly a fascinating way to see how Berkshire Hathaway evolved year after year. This book is different. It breaks from this chronological order to instead group things Warren has said over the years by topic. So, for instance, you can see his...

The Essays of Warren Buffett by Lawrence Cunningham For over 50 years, Warren Buffett has written an annual letter to Berkshire Hathaway's shareholders. Many people set it as a goal to read all of Warren’s shareholder letters chronologically. Which is certainly a fascinating way to see how Berkshire Hathaway evolved year after year. This book is different. It breaks from this chronological order to instead group things Warren has said over the years by topic. So, for instance, you can see his...

The Essays of Warren Buffett by Lawrence Cunningham For over 50 years, Warren Buffett has written an annual letter to Berkshire Hathaway's shareholders. Many people set it as a goal to read all of Warren’s shareholder letters chronologically. Which is certainly a fascinating way to see how Berkshire Hathaway evolved year after year. This book is different. It breaks from this chronological order to instead group things Warren has said over the years by topic. So, for instance, you can see his...

The Essays of Warren Buffett by Lawrence Cunningham For over 50 years, Warren Buffett has written an annual letter to Berkshire Hathaway's shareholders. Many people set it as a goal to read all of Warren’s shareholder letters chronologically. Which is certainly a fascinating way to see how Berkshire Hathaway evolved year after year. This book is different. It breaks from this chronological order to instead group things Warren has said over the years by topic. So, for instance, you can see his...

The Playing Field by Graham Duncan is BY FAR the best piece of writing I've read on the journey we must all make to reach mastery in our fields. While Graham writes about the journey to master the art of investing, everything in it is broadly generalizable. In Graham’s view we must all progress from apprentice, to professional, to self-actualization, operating at scale with impact, and eventually (if we make it) mentoring the new generation. It’s a wonderful meditation on mastery — what it...

The Playing Field by Graham Duncan is BY FAR the best piece of writing I've read on the journey we must all make to reach mastery in our fields. While Graham writes about the journey to master the art of investing, everything in it is broadly generalizable. In Graham’s view we must all progress from apprentice, to professional, to self-actualization, operating at scale with impact, and eventually (if we make it) mentoring the new generation. It’s a wonderful meditation on mastery — what it...

In 2016, Apple published a limited edition anthology, chronicling the last 20 years of Apple's designs simply titled Designed by Apple in California. The book is dedicated to the memory of Steve Jobs. “The idea of genuinely trying to make something great for humanity was Steve’s motivation from the beginning, and it remains both our ideal and our goal as Apple looks to the future,” said Jony Ive, Apple’s chief design officer. “This archive is intended to be a gentle gathering of many of the...

Subscribe to newsletter: https://newsletter.outlieracademy.com Subscribe to podcast: https://pod.link/outlieracademy In 2016, Apple published a limited edition anthology, chronicling the last 20 years of Apple's designs simply titled Designed by Apple in California. The book is dedicated to the memory of Steve Jobs. “The idea of genuinely trying to make something great for humanity was Steve’s motivation from the beginning, and it remains both our ideal and our goal as Apple looks to the...

In Episode #118, we explore healthcare as a product rather than a service. We’re joined by Adrian Aoun, Forward’s CEO and Founder, and we cover why healthcare should be a product, not a service, being problem-oriented as a founder, and why the health insurance industry is destined to fall.  “Solutions don't really matter. Problems matter.” – Adrian Aoun EPISODE GUIDE (LINKS, QUOTES, NOTES, AND BOOKS MENTIONED) https://www.outlieracademy.com/episode/118 FULL TEXT...

In Episode #118, we explore healthcare as a product rather than a service. We’re joined by Adrian Aoun, Forward’s CEO and Founder, and we cover why healthcare should be a product, not a service, being problem-oriented as a founder, and why the health insurance industry is destined to fall.  “Solutions don't really matter. Problems matter.” – Adrian Aoun EPISODE GUIDE (LINKS, QUOTES, NOTES, AND BOOKS MENTIONED) https://www.outlieracademy.com/episode/118  FULL TEXT...

Summary In this episode of Friday Five, Daniel Scrivner shares his five favorite ideas from the book 'Insanely Simple: The Obsession That Drives Apple's Success' by Ken Segall. The book explores Apple's obsession with simplicity and how it has contributed to the company's success. The five ideas and stories discussed include starting with small groups of smart people, expressing a single idea clearly, the power of speaking human, being a ruthless enforcer of high standards, and the importance...

"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs Watch on YouTube: https://www.youtube.com/watch?v=eqjzmm-wkoo Read the newsletter version: https://newsletter.outlieracademy.com/p/insanely-simple-book-breakdown-part-2 Show notes: https://www.outlieracademy.com/episode/175 Buy the book: https://amzn.to/47HC36Q To Steve Jobs, simplicity was a...

"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs Watch on YouTube: https://www.youtube.com/watch?v=eqjzmm-wkoo Read the newsletter version: https://newsletter.outlieracademy.com/p/insanely-simple-book-breakdown-part-2 Show notes: https://www.outlieracademy.com/episode/175 Buy the book: https://amzn.to/47HC36Q To Steve Jobs, simplicity was a...

"Simple can be harder than complex. You have to work hard to get your thinking clean, to make it simple. But it's worth it in the end, because once you get there, you can move mountains." — Steve Jobs Watch on YouTube: https://youtu.be/d3IRe7CVkA0 Read the newsletter version: https://newsletter.outlieracademy.com/p/insanely-simple-book-breakdown Show notes: https://www.outlieracademy.com/episode/174 Buy the book: https://amzn.to/47HC36Q To Steve Jobs, simplicity was a religion. It was also...