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The Investor's Podcast (We Study Billionaires)  - The Investor’s Podcast Network

TIP106 : Influence and Pre-Suasion w/ Dr. Robert Cialdini (Business Podcast)

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.63.6K Ratings

🗓️ 2 October 2016

⏱️ 40 minutes

🧾️ Download transcript

Summary

IN THIS EPISODE, YOU’LL LEARN: How Charlie Munger and Warren Buffett made 100s of millions of dollars by reading Dr. Cialdini’s book. Why Warren Buffett always starts his annual shareholder letter by outlining a mistake he has made in the past year. The 6 most powerful factors of influence used in marketing. What Daniel Kahneman has said is the most important thing to understand. Why and how 97% of all online buyers are influenced by social proof before making a buying decision. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Robert Cialdini’s book, Pre-Suasion – Read reviews of this book. Robert Cialdini’s book, Influence – Read reviews of this book. Robert Cialdini’s website, InfluenceAtWork.com. Preston and Stig’s Discussion of, Influence in Episode 22. Daniel Kahneman’s book, Thinking Fast and Slow – Read reviews of this book. Aristotle’s book, Rhetoric – Read reviews of this book. Charlie Munger’s book, Poor Charlie’s Almanack – Read reviews of this book. Related episode: Influence – Robert Cialdini’s psychology of persuasion w/ Preston & Stig - TIP22. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. 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: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Plus500⁠ ⁠Netsuite⁠ ⁠Shopify⁠ ⁠Vanta⁠   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 Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. 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Transcript

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0:00.0

We study billionaires and this is episode 106 of the Investors Podcast.

0:06.0

Broadcasting from Bel Air, Maryland. This is the Investors Podcast.

0:14.0

They'll read the books and summarize the lessons. They'll test the waters.

0:18.0

Tell you what it's called. They'll give you actionable investing strategies.

0:23.0

Your host Preston Pish and St. Brooderson.

0:28.0

Hey, how's everybody doing out there? This is Preston Pish and I'm your host for the Investors Podcast.

0:32.0

And as usual, I'm accompanied by my co-host St. Brooderson, out in Seoul, South Korea.

0:38.0

And today we have a very exciting episode because we have a guest on the show today that is hands down one of our favorite authors of all times.

0:47.0

New York Times best-selling author. We'll get to that in here just a second.

0:51.0

But before we introduce him, we want to send out a quick shout out to Miss Kelly Evans from CNBC's Closing Bell.

1:00.0

Because this past week she selected our show as her number one podcast pick from the 250,000 podcasts that are currently out there she selected our show.

1:09.0

And so Kelly, all we can say is that we are so humbled and honored and thank you so much for highlighting our show to your awesome audience on CNBC.

1:18.0

Okay, so let me introduce our guest this week. Almost two years ago, we had read a book called Influence and it was written by Dr. Robert Chaldeini.

1:26.0

And we focused on this book because billionaire Charlie Munger has said it was one of his favorite books of all time.

1:32.0

And after we read the book, I personally found myself recommending Dr. Chaldeini's book more than any other book that I'd ever read.

1:39.0

So a couple weeks ago, a close friend of mine who was a person I had told to read Dr. Chaldeini's original book Influence, he sent me a text message and he said,

1:48.0

do Dr. Chaldeini just wrote a new book and it's now on Amazon.

1:52.0

So I sent a message off to Stig and we were pumped. We were absolutely pumped to know that there's a new book out there by one of our favorite authors of all time.

2:02.0

And so Stig and I were like, well, let's reach out and let's see if maybe Dr. Chaldeini will come on the show and maybe he's interested in being a guest.

2:10.0

So believe it or not, we sent a message out to Dr. Chaldeini's publicist and he said, yes.

2:17.0

So without further delay, Dr. Chaldeini, thank you so much. I really truly mean this because we're beyond star struck at this point to have you on our show.

2:29.0

And we cannot thank you enough for taking time out of your busy day to be here to talk with us and everything that you've taught us through your writings. So thank you so much.

...

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