TIP536: Buffett and Munger’s Principles and Mental Models

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

Stig Brodersen

Business, Education, Investing

4.6 • 3.6K Ratings

🗓️ 21 March 2023

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today’s episode, Clay Finck continues his review of Gautam Baid’s book, The Joys of Compounding. Gautam Baid is the Managing Partner and Fund Manager of Stellar Wealth Partners India Fund, a Delaware-based investment partnership which is available to accredited investors in the US. The fund is modeled after the Buffett Partnership fee structure and invests in listed Indian equities with a long-term, fundamental, and value-oriented approach. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:11 - The virtues of philanthropy and good karma. 06:24 - How we can simplify both our investments and our life. 14:45 - The importance of achieving financial independence. 21:42 - How Charlie Munger achieved financial independence. 26:28 - Why the key to success is delayed gratification. 29:20 - How we can properly assess a management team. 56:03 - The importance of using an investment checklist to avoid common mistakes. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Check out the book, The Joys of Compounding. Tune into our previous episode covering The Joys of Compounding. Watch the video here. Check out our recent episode covering Mark Leonard's Letter's and Constellation Software. Watch the video here. 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: River Toyota Range Rover Fundrise AT&T The Bitcoin Way USPS American Express Onramp SimpleMining Public Vacasa 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! 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

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0:00.0	You're listening to TI P.
0:03.0	Hey everyone, welcome to the Investors Podcast.
0:05.0	I'm your host, Clay Fink.
0:07.0	I recently picked up God-Unbade's book called The Joys of Compounding
0:11.0	and I decided that I would do multiple episodes covering this book
0:15.0	so the audience didn't miss out on any of the great content that it provides.
0:19.0	For those of you who don't know God-Unbade,
0:21.0	he's the Managing Partner and Fund Manager of Stellar Wealth Partners, India Fund.
0:26.0	The fund is a Delaware-based investment partnership
0:29.0	which is available to accredited investors in the U.S.
0:33.0	The fund is modeled after the Buffett Partnership Feastructure
0:36.0	and it invests enlisted Indian equities with a long-term, fundamental, and value-oriented approach.
0:43.0	Most of the chapters in the book are somewhat standalone
0:46.0	so you're able to listen to each episode separately for this series.
0:50.0	But the episode you're currently listening to is part two of my series covering his book.
0:55.0	In part one, Episode 534, I touched on more of the personal development side of the book, such as
1:01.0	why it's really important we invest in ourselves and embrace lifelong learning,
1:06.0	as well as the biggest edge we can have as individual investors.
1:09.0	If you haven't tuned into that episode yet, I'd encourage you to go back and check it out if you haven't already.
1:14.0	Episode 534.
1:16.0	If you're sticking around for this episode, I'll be covering the virtues of philanthropy and good karma,
1:21.0	the importance of achieving financial independence, and how we can use Charlie Munger as a role model for our own journey,
	...

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