174: Money Maze Podcast Corporate Trailer
02:46 Share

So welcome to the Money Maze podcast. I believe the two most powerful words in business are just ask. I think infrastructure is almost the perfect institutional asset class. The only way to be uniquely successful is do things that nobody else is doing and have them turn out well. It's the pioneers who get the arrows. The greatest tragedy of individuals is confidently thinking they're right without stress testing their thinking with the smartest people.

There's a difference between an ambition and a policy. And ambitions are very easy to have. Policies are very difficult to devise. We struck the oil in '69, the day before Christmas Eve. On the last attempt, bang, found the oil. Most people don't realize that pretty much everything they touch, feel, and ride in and comes out of the ground.

Everything else is building on a shaky foundation.

Many people in this industry, Simon, you know, are prepared to make monies with someone else's money, but less so are prepared to make money with their kids' money. The greatest achievement of humankind was the doubling of life expectancy on the planet in the 20th century. We are investing over decades, 30-year time horizons.

Companies don't sell the best businesses in the world. They don't sell those to private equity generally, they keep them. Everyone always asks me, "What is risk?" And I say, "Probability and severity." Gold can be a risk off and a risk on asset. Bitcoin is a risk on asset. People took great pride in how entrepreneurial Credit Suisse was.

And I'm thinking that's not really our job. Our job is to make sure that we service entrepreneurs. Antimicrobial resistance is a huge issue. It's a silent killer. No doesn't mean never. It just means not now.