How to Win the Investment Game w/ Bryan Lawrence (RWH044)

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, and how to build a happy life.
IN THIS EPISODE, YOU’LL LEARN
00:00:00 - Intro
00:03:22 - What Bryan Lawrence learned from his hugely successful father.
00:21:50 - What Charlie Munger taught Bryan.
00:33:31 - How Shelby Cullom Davis turned $200,000 into $800 million.
00:40:13 - How Bryan has consciously built an investing edge.
00:44:47 - What he learned from meeting Warren Buffett.
00:49:00 - Why Bryan looks for three specific characteristics in any business.
00:54:39 - How to beat the market by making infrequent bets.
01:02:45 - Why he’s obsessed with identifying where he’s wrong.
01:14:33 - How he searches for new investment ideas.
01:19:21 - How he structures his day.
01:27:38 - How to think rationally about fossil fuels & climate change.
01:57:32 - How to build a happy life & great relationships.
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▶️ RELATED EPISODES:
- Stock Investing Masterclass w/ Bryan Lawrence: • Stock Investing Master...
- What I’ve Learned From Warren Buffett & Charlie Munger w/ Chris Davis: • What I’ve Learned From...
- Celebrating Charlie Munger w/ Mohnish Pabrai, Tom Gayner, Joel Greenblatt, & Chris Davis: • Celebrating Charlie Mu...
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📖 BOOKS MENTIONED:
- Poor Charlie’s Almanack by Charlie Munger: amzn.to/3Jx7YNf
- Undo It by Dean Ornish & Anne Ornish: amzn.to/3Qdhglp
- Influence by Robert Cialdini: amzn.to/3JtLHA5
- The Consolations of Philosophy by Alain De Botton: amzn.to/3QgpbOU
- Difficult Conversations by Douglas Stone, Bruce Patton, & Sheila Heen: amzn.to/3JDUC1D
- The Davis Dynasty by John Rothchild: amzn.to/3UaFKg9
- How the World Really Works by Vaclav Smil: amzn.to/3WcApaY
- Sustainable Energy Without the Hot Air by David Mackay: amzn.to/3Wciy3G
- Getting There by Gillian Zoe Segal: amzn.to/3W8euld
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ABOUT OUR SHOW 🎙
On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.
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Пікірлер: 54

  • @WeStudyBillionaires
    @WeStudyBillionaires2 ай бұрын

    📌 Check out this video next: kzread.info/dash/bejne/nYFsvJmch9exhpc.html ⚠ IMPORTANT: Please beware of cyber scams and phishing attacks. We will never ask for your contact info in the comments section. Kindly report suspicious accounts you see below. Thank you!

  • @pkozanov
    @pkozanovАй бұрын

    William, revisiting Bryan Lawrence's captivating interview for the second time compelled me to leave a comment. The first time when I watched the video, I liked it very much. However, what added an extra layer of significance to the second viewing was my recent encounter with Mr. Lawrence's wife, Jillian Segal, during the VALUEx event in Omaha, graciously hosted by your friend Guy Spier. Engaging with Jillian was a delight. Her kindness and charm left a lasting impression. Meeting her in person was truly a privilege. I also had the pleasure of meeting you shortly after, and you graciously signed a copy of "Richer, Wiser, Happier" for my youngest child. Your kindness and the wealth of inspiration you continually share through your videos are sincerely appreciated. Thank you, William!

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Ай бұрын

    Thank you for leaving such a sweet comment. Glad you enjoyed Omaha! ♥

  • @priteshpatel889
    @priteshpatel8892 ай бұрын

    Brilliant conversation. Very good exposition on the investing process and behaviour by Bryan. Thanks William Green.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    2 ай бұрын

    Much appreciated! 🙏

  • @easternhair
    @easternhair8 күн бұрын

    Hi William, it;s a long video but love it sooo much, Time goes so quickly whilst you re pulling squizing out as much valuable info as possible from your Guest, another great video. Time flies so quickly. Thanks Much.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    7 күн бұрын

    Glad you enjoyed it! ❤

  • @christopherjackman5788
    @christopherjackman57882 ай бұрын

    Another amazing session William! I thoroughly enjoy listening to your thoughtful and insightful questions and of course their responses. I always look forward to your new posts and greatly appreciate your hard work! Thanks.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    2 ай бұрын

    Glad you enjoyed the episode! 🎉

  • @Kornheiser10
    @Kornheiser10Ай бұрын

    Paying my "kids" 22 & 24 has worked to get them to watch what I consider required movies, many of the 70's, 80's and 90's. It's been hit or miss, though they have been pretty responsive. Though they have little interest financial matters and investing, I did pay them to read Housel's "The Psychology of Money," which I consider the minimal financial knowledge to have as a 20 something.

  • @think-income3499
    @think-income34992 ай бұрын

    Thank you for sharing this research and insight.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    2 ай бұрын

    Glad it was helpful! 🙌

  • @royjones59344
    @royjones593442 ай бұрын

    Excellent interview. I manage my own investments but if I I ever decided to farm it out Mr. Lawrence would be on the short list.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    2 ай бұрын

    Thanks so much! 💯

  • @TheArtofValue
    @TheArtofValue2 ай бұрын

    Excellent interview and conversation, thank you.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    2 ай бұрын

    Glad you enjoyed it! ♥

  • @zzd7ry
    @zzd7ry22 күн бұрын

    Excellent podcast on how to be a good investor and how to lead a meaningful life. I struggle getting my daughter to read books and these podcasts are god sent. Her favorite place for sourdough bread sandwiches is 60 miles away from home and so I queue up these videos and we all listen to it one way and on the return we discuss the same. It has been a good experience. Thank you William for the thoughtful questions and thank you Bryan for your candid answers!

  • @WeStudyBillionaires

    @WeStudyBillionaires

    21 күн бұрын

    Amazing! Thank you for sharing the podcast to your family. ♥

  • @paul5622
    @paul56222 ай бұрын

    Great interview. Very insightful

  • @WeStudyBillionaires

    @WeStudyBillionaires

    2 ай бұрын

    Thanks so much for tuning in! ♥

  • @KamilMauel
    @KamilMauel2 ай бұрын

    Glad William is back. 2 weeks later than before 🙂. If the numbers in the fossil fuel section are correct it is mind boggling. Should be archived and used as a bible.

  • @WeStudyBillionaires

    @WeStudyBillionaires

    2 ай бұрын

    Thanks for tuning in! 🙌

  • @faronskelton4085
    @faronskelton40852 ай бұрын

    Another excellent interview

  • @WeStudyBillionaires

    @WeStudyBillionaires

    2 ай бұрын

    Thank you so much for watching! 💡

  • @claudiuvlad
    @claudiuvladАй бұрын

    Beautiful discussion!

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Ай бұрын

    Glad you enjoyed it! 💡

  • @riverat7558
    @riverat75582 ай бұрын

    It's always about the work bro.

  • @cupotkaable
    @cupotkaableАй бұрын

    Amaizing, i need to listen couple of times

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Ай бұрын

    Thank you so much! 🙏

  • @necimsanbaran4267
    @necimsanbaran426721 күн бұрын

    It is a great great conversation thank you very much to both of you for life lessons

  • @WeStudyBillionaires

    @WeStudyBillionaires

    20 күн бұрын

    Much appreciated! 🙏

  • @ReflectionOcean
    @ReflectionOcean2 ай бұрын

    Lawrence asks the following six questions when evaluating a business: 1. Is this a business we understand? 2. Is it a good business (e.g. a natural monopoly, rational duopoly, or low-cost operator)? 3. Is it run by a management team that thinks like shareholders and will treat us like partners? 4. Is it cheap, demonstrably relative to its expected cash flows? Is it trading at an attractive valuation with an attractive internal rate of return (IRR) owning it from here? 5. Why is it cheap? Can we identify the reason why we are right and the market is wrong (the variant perception)? 6. If we're wrong (which can be expected at least 30% of the time), how much money will we lose?

  • @WeStudyBillionaires

    @WeStudyBillionaires

    2 ай бұрын

    Thanks so much for watching! 💡

  • @tixchicken
    @tixchickenАй бұрын

    i enjoyed this one thanks

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Ай бұрын

    Happy to hear that! 💯

  • @tomcrane8324
    @tomcrane8324Ай бұрын

    Very Good!

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Ай бұрын

    Thank you! Cheers! 🎉

  • @sagarsawant7939
    @sagarsawant79392 ай бұрын

    Plz interview Pulak Prasaad

  • @Xyz19781i
    @Xyz19781iАй бұрын

    wow wb was buying bonds of amazon so early in its history

  • @vicentedecarolis7390
    @vicentedecarolis739016 күн бұрын

    Something is different here in the way value investment is exposed. Brilliant

  • @WeStudyBillionaires

    @WeStudyBillionaires

    14 күн бұрын

    Appreciate it! 🙏

  • @azndreamerboy
    @azndreamerboy2 ай бұрын

    1:04:28

  • @DN-dj4gi
    @DN-dj4giАй бұрын

    Tipical case of "where are the clients yachts?" this guy

  • @airbourne2
    @airbourne2Ай бұрын

    I have not watched the video. Why do I have to beat the market if VOO has average +12.65% annual return over the last 10 years?

  • @jonnagap87
    @jonnagap87Ай бұрын

    The more deeply you think about individual stock investing, the more you realize how desirable index investing is. It’s unbelievable how good results you can get by being lazy and robotically investing in an index fund and tuning out panic about recessions and downturns

  • @WeStudyBillionaires

    @WeStudyBillionaires

    Ай бұрын

    Glad you found the episode valuable! 🌱

  • @therighteous802
    @therighteous802Ай бұрын

    People (and I mean regular people, be it rich or poor) would rather watch the world burn than take a hit on their level of comfort.

  • @riumudamc4686
    @riumudamc46862 ай бұрын

    Buffett and Gates both investing in nuclear facilities, Buffett investing in Occidental. Maybe they don't like solar and wind either...

  • @blaquiere141
    @blaquiere1412 ай бұрын

    For me, to worship an investor, the stocks in its portfolio must respect my severe investing criteria and his just don't... Only maybe TDG and GOOG but I don't allocate much to giants because they have a tiny to zero chance of making 100x in the future. Sorry ! Next ! (Chris Mayer is still the GOAT)

  • @johnnymartinARTIST
    @johnnymartinARTISTАй бұрын

    Ask him if he knoows "fully baked" means high on weed...ha!