A Conversation with Charlie Munger & John Collison - [Invest Like the Best, REPLAY]
Today, we’re replaying a conversation between John Collison and Charlie Munger that we first aired on 5 December 2023. Charlie said, “The best thing a human being can do is to help another human being know more.” He does just that in this interview. Please enjoy, and may Charlie Rest in Peace.
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
(00:00:00) Welcome to Invest Like the Best
(00:03:52) 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
A Conversation with Charlie Munger & John Collison - [Invest Like the Best, EP.355]
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
Charlie Munger
We sit down with the legendary Charlie Munger in the only dedicated longform podcast interview that he has done in his 99 years on Earth. We’ve gotten to have some special conversations on Acquired over the years, but this one truly takes the cake. Over dinner at his Los Angeles home, Charlie reflected with us on his own career and his nearly 50-year partnership at Berkshire Hathaway with Warren Buffett. He offered lessons and advice for investors today, and of course he shared his speech on the virtues of Costco once again (among other favorite investments). We’re so glad that we got the opportunity to record and share this with you all — break out your notebooks, tune in, and enjoy the singular wit and wisdom of Charlie Munger.
A transcript is available here.
Sponsor:
Special thanks to Tiny for being the exclusive sponsor of this episode. You can get in touch with them here (just tell them Ben & David sent you), and order your very own bronze Charlie bust here.
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Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.