RWH044: How To Beat The Market w/ Bryan Lawrence

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 28 April 2024

⏱️ 133 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode, William Green chats with Bryan Lawrence, a highly successful hedge fund manager who runs an investment firm called Oakcliff Capital. Bryan almost never gives interviews, so this is a rare opportunity to hear him speak in depth about the advantages of a concentrated value strategy, how he finds new investments, what 6 questions he asks when analyzing any stock, what he’s learned from Buffett & Munger, & how to build a happy life. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 05:42 - What Bryan Lawrence learned from his hugely successful father. 16:30 - What Charlie Munger taught Bryan. 33:07 - How Shelby Cullom Davis turned $200,000 into $800 million. 39:14 - How Bryan has consciously built an investing edge. 43:25 - What he learned from meeting Warren Buffett. 47:15 - Why Bryan looks for three specific characteristics in any business. 59:18 - How to beat the market by making infrequent bets. 1:08:19 - Why he’s obsessed with identifying where he’s wrong. 1:10:17 - How he searches for new investment ideas. 1:14:32 - How he structures his day. 1:44:20 - How to think rationally about fossil fuels & climate change. 1:49:1 - How to build a happy life & great relationships. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Bryan Lawrence’s investment firm, Oakcliff Capital. Check out Poor Charlie’s Almanack. Dean Ornish & Anne Ornish's book Undo It. Robert Cialdini's book Influence. Alain de Boton's book The Consolations of Philosophy. Douglas Stone, Bruce Patton, & Sheila Heen's book Difficult Conversations. John Rothchild's book The Davis Dynasty. Vaclav Smil's book How the World Really Works. David Mackay's book Sustainable Energy Without the Hot Air. Gillian Zoe Segal's book Getting There. William Green’s podcast interview with Chris Davis | YouTube Video William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book. Follow William Green on X. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Meyka AT&T Vacasa Fidelity Monarch Money Yahoo! Finance Long Angle Public USPS American Express Shopify 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! 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.
0:03.0	Hi there, it's a great pleasure to be back with you here on the Richer Wiser
0:06.9	Happier Podcast.
0:07.9	I have a rare treat in store for you today.
0:10.4	Our guest is Brian Lawrence, who's one of the smartest and most thoughtful hedge fund managers
0:15.3	I know.
0:16.3	Brian runs an investment firm called Oak Cliff Capital, which is based in New York City.
0:21.2	He's beaten the market by a wide margin over the last 20 years
0:25.1	by investing in a concentrated portfolio of high-quality companies that he tries to buy
0:30.5	during those infrequent moments when they're out of favor and undervalued.
0:35.4	It's a classic investment strategy that's profoundly influenced by a trio of legendary investors
0:41.7	whom we'll discuss in this conversation namely Warren Buffett
0:45.4	Charlie Munger and Shelby Cullen Davis who inspired Brian by turning
0:50.2	$200,000 into $800 million.
0:54.4	What makes today's episode particularly special for me
0:57.4	is that Brian almost never gives interviews.
1:00.7	So this is a unique opportunity to spend a couple of hours in the company of a
1:05.6	formitably intelligent investor who has never really opened up to this extent.
1:10.9	In this conversation we talk in depth about how do to this
1:15.0	extent, how to beat the market and why this concentrated value strategy
1:19.0	makes so much sense.
1:20.0	We talk about the intense drive, focus, and emotional stability that are required in order to generate
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Stig Brodersen, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Stig Brodersen and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.