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The Intrinsic Value Podcast - The Investor’s Podcast Network

MI199: Cloning Warren Buffett and Charlie Munger w/ Chris Franco

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6592 Ratings

🗓️ 26 July 2022

⏱️ 66 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN: 02:00 - What led Chris into being so passionate about studying Warren Buffett and Charlie Munger. 08:45 - Why Chris chooses to allocate most of his portfolio to index funds. 17:18 - Why Chris typically avoids investing in more mature companies. 23:20 - How Warren Buffett’s definition of risk differs from that of the academics. 29:14 - What makes Costco such a great business. 36:21 - The opportunities for growth that Costco will be pursuing. 55:22 - How Warren Buffett and Charlie Munger’s investment strategies differ. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Check out Chris’ Podcast and YouTube Channel. Check out Chris’ Instagram accounts - Charlie Munger Quotes and Warren Buffett Videos. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Chris: Podcast | Twitter | LinkedIn       Connect with Clay: Twitter  HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!  Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP.

0:02.0

And they asked him why they raised wages for their people in the stores. You know, there wasn't really a need for this. Actually, that wasn't the trend at the time. And his answer was one of the coolest things I've ever heard someone say in response to something like that. He goes, it was the right thing to do. Like, full stop, nothing else to say. And that tells you a lot. This is not a phony baloney. Their commitment to

0:22.1

not just the customers, but to the people working there. It's not just marketing. It's the

0:25.5

real deal. On today's episode, I'm joined by Chris Franco. Chris is the founder of Woodridge Growth,

0:35.9

which is a marketing company in New York City.

0:38.6

His clients include Goldman Sachs, Jet.com, fan duel, and dozens of successful startups.

0:45.0

Chris has many passion projects, which is how I connect with him.

0:48.8

He runs a couple of pages on Instagram, Charlie Munger quotes, and Warren Buffett videos.

0:53.8

He's the host of the CMQ

0:55.3

investing podcast and also runs CMQ investing on YouTube. During this episode, Chris and I chat

1:01.5

about the lessons he has learned from studying Warren Buffett and Charlie Munger. We also discuss

1:06.6

how he thinks about constructing a portfolio, what makes a company a bad business, how Warren

1:12.4

Buffett's definition of risk differs from academia, what makes Costco such a great business model,

1:18.6

how Warren Buffett and Charlie Munger's investment strategies differ, and so much more. With that,

1:24.0

I really hope you enjoy today's Warren Buffett and Charlie Munger Masterclass with Chris Franco.

1:30.0

You're listening to Millennial Investing by the Investors Podcast Network,

1:34.2

where your hosts, Robert Leonard and Clay Fink, interview successful entrepreneurs, business leaders and investors to help educate and inspire the millennial generation.

1:50.4

Welcome to the Millennial Investing Podcast.

1:52.8

I'm your host, Clay Fink.

1:54.6

And today I bring Chris Franco onto the show.

1:57.1

Chris, welcome to the show.

1:58.7

Clay, thanks so much for having me.

...

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