TIP226: Billionaire Charles Koch Lessons Learned (Business Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 20 January 2019

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, you’ll learn:

What Charles Koch thinks are the key ingredients to being successful in business
The importance of market-based management
How Charles Koch’s choose among business opportunities
Why creative destruction is and why it’s important in business and stock investing
Ask The Investors: What do you think about Ray Dalio’s All Weather Portfolio?

Important Links:

Preston and Stig’s discussion of Charles Koch’s book, The Science of Success
Preston and Stig’s Executive Summary of Charles Koch’s book, The Science of Success
Preston and Stig’s discussion of Ray Dalio’s new book, Big Debt Crises
Preston and Stig’s discussion of Clayton Christensen’s book, The Innovator’s Dilemma
Preston and Stig’s discussion of Tony Robbins’ book, Money Master the Game
Angela Duckworth’s book, Grit – Read reviews of this book
The Investor’s Podcast’s guidelines to the Berkshire Hathaway Annual Shareholder’s meeting 2019
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Transcript

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0:00.0	You're listening to TIP.
0:02.9	On today's show, we cover the eighth richest person on the planet, Mr. Charles Koch.
0:07.3	Koch has been the co-owner chairman and CEO of Koch Industries since 1967.
0:11.8	The company was originally involved in chemicals and oil refinement, but now the company also
0:15.8	provides products and services for pollution control equipment, polymers, fibers, minerals,
0:20.6	fertilizers, and even ranching.
0:22.6	Koch is a graduate of MIT and is annual compounded return since running Koch Industries since 1967
0:28.4	is estimated to be 18% annually.
0:31.5	So without further delay, here's our highlights and lessons learned from Charles Koch.
0:35.6	You are listening to THE Investors Podcast.
0:41.7	Where we study the financial markets and read the books that influence self-made billionaires
0:46.0	the most.
0:47.0	We keep you informed and prepared for the unexpected.
0:58.9	Hey everyone, welcome to THE Investors Podcast.
1:01.2	I'm your host Preston Pish and as always, I'm a company by my co-host, Stig Broderson.
1:05.9	Like we said in the introduction, we're going to be covering Charles Koch.
1:08.8	Just as a side note before we start, Stig and I covered one of Charles Koch's books.
1:13.7	This was episode nine a long time ago.
1:17.0	The name of Charles' book was The Science of Success.
1:20.0	We thoroughly enjoyed this book.
1:21.3	We also wrote an executive summary, so if you want to read the executive summary that Stig
1:24.9	and I have for this book, we'll also have a link to that in the show notes.
	...

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