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William Green chats with Tom Gayner, one of the great long-term investors of our time. Tom is the CEO of the Markel Corporation, a global financial holding company, where he oversees about 20,000 employees. Here, he shares his time-tested advice on how to achieve enduring success in business & investing while also building a happy & fulfilling personal life.
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:00:38 - How Tom Gayner made a fortune by setting up a retirement account at age 14.
00:11:15 - What he learned from his grandmother about the glory of long-term compounding.
00:14:11 - How to succeed through steady, persistent progress over long periods of time.
00:24:13 - Why humor, fun, & joyfulness are central aspects of Tom’s approach to work.
00:29:36 - Why it’s so helpful to set down your thoughts, principles, & values in writing.
00:31:57 - Why we should bet on companies that do things “for” their customers, not “to” them.
00:36:19 - What Charlie Munger teaches about the secret of success.
00:43:09 - How to flourish in business & life by compounding relationships built on trust & love.
00:52:21 - How Berkshire Hathaway embodies everything Tom looks for in a business.
01:01:02 - What we can learn about investing from the comedian Jerry Seinfeld.
01:04:20 - How Tom approaches the challenge of appraising a person’s talent & integrity.
01:09:40 - Why he prefers to aim for satisfaction, not optimization.
01:19:15 - Why you should never check your luggage when you travel.
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🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/richer-wiser-happier/wealth-wisdom-happiness-w-tom-gayner/
💡 OTHER RESOURCES
- Visit Markel Corporation: https://www.markel.com/
- Tom Gayner’s 2022 letter to shareholders: https://s201.q4cdn.com/916389373/files/doc_downloads/letters_shareholders/2023/MKL-12.31.2022-10K_FINAL-SH-Letter.pdf
- Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a special $140 discount: https://bit.ly/3WG6WU3
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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.
🌍 Website: https://www.theinvestorspodcast.com/richer-wiser-happier/
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WHO I AM:
I’m William Green, the author of Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life 📘. Over the last quarter of a century, I’ve interviewed many of the world’s best investors, exploring in depth the question of what qualities and insights enable them to achieve enduring success 💰. I’ve written extensively about investing for many leading publications 📰 such as Time, Fortune, Forbes, Barron’s, The Economist, and many others. Born and raised in London, I was educated at Eton College, studied English literature at Oxford University, and received a Master’s degree from Columbia University’s Graduate School of Journalism ✍.
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GET IN TOUCH WITH ME 💬:
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❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.