You're listening to A Book with Legs, a podcast presented by Smead Capital Management.

At Smead Capital Management, we advise investors who fear stock market failure.

You can learn more at Smeadcap.com or by calling your financial advisor.

Welcome to a book with legs podcast. I'm Cole Smead. I'm the president and a portfolio manager here at Smead Capital Management. At our firm, we are readers and book junkies. It can be

said that leaders are readers and we believe books provide us a great source of information

for filtering what is and isn't important for us as investors.

Investing is the last great liberal art as we'll learn and talk about today

and the best way to spend a lifetime of learning.

This podcast is for readers, thinkers, business-minded people and investors who want to grow their knowledge from great authors and their writing.

Charlie Munger often talks about using multiple mental models and analysis.

Our aim is for this podcast is to help listeners, test Munger's theory in business, markets, and people.

We're glad you've joined us for this episode.

We're going to talk about a book that speaks to the thesis of this podcast and our personal

views of what it means to learn. Hosting this episode along me is our chairman and chief

investment officer. I like to call him Dad, Bill Smead. Thanks for joining me, Dad. Great to be with you, as always.

Robert Hagstrom is joining us to talk about his book, Investing, the Last Great Liberal Art, that he published in 2000.

Robert has published other books, including his most recent work, Warren Buffett, Inside the Ultimate Money Mine.

Mr. Hags is the chief investment officer

and senior portfolio manager at Equity Compass. Prior to joining Equity Compass, he was a portfolio

manager at Lake Mason Capital Management running the Lake Mason Growth Trust. Before we go going

with Robert, Bill, is there anything that you're kind of, you know, looking forward in our

discussion?

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