On today’s episode, Kyle Grieve chats with co-host Clay Finck about Clay’s favorite book, The Joys of Compounding. They discuss how compounding can profoundly affect people's lives inside and outside of investing, simple thinking tools to make better decisions, why humility is such an important trait all good investors possess, how to think about value and quality traps regarding evaluation, why you should emphasize compounding in your relationships with others and your health, and a whole lot more!
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
03:07 - Why compounding can be found in all areas of life
10:01 - The importance of self-education after a formal education in the wealth-building process
13:03 - Valuable thinking tools that can help you optimize your decision-making and think at a higher level
18:26 - A breakdown of two of Guatam Baid's first principles of investing
21:39 - The importance of humility in investing and understanding whether you have an advantage or disadvantages
29:05 - Why living life on your principles has been such a valuable tool for Warren Buffett, and how you can utilize the framework in your own life
43:25 - How this book helped Clay understand the value of owning high-quality businesses even when they look expensive
52:12 - The importance of culture in the lens of long-term investing and quality businesses
1:02:16 - How to utilize base rates in investing to improve decision-making by looking at public data or looking at your successes and failures
1:05:45 - Why compounding social relationships, intellectual processes, and health are so crucial to living a fulfilling life
And so much more!
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, Kyle, and the other community members.
- Read The Joys Of Compounding.
- Read Principles: Life and Work.
- Read Selected Writings of Ralph Waldo Emerson.
- Follow Kyle on Twitter and LinkedIn.
- Follow Clay on Twitter and LinkedIn.
- Check out all the books mentioned and discussed in our podcast episodes here.
- Enjoy ad-free episodes when you subscribe to our Premium Feed.
NEW TO THE SHOW?
- Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
- 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
- Daloopa
- Sound Advisory
- TastyTrade
- Public
- Connect Invest
- Onramp
- Found
- American Express
- BAM Capital
- Fundrise
- 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!
Learn more about your ad choices. Visit megaphone.fm/adchoices
Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
