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cover of episode #186 Tom Gayner: Invest Like The Best

#186 Tom Gayner: Invest Like The Best

2024/1/23
logo of podcast The Knowledge Project with Shane Parrish

The Knowledge Project with Shane Parrish
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Tom Gayner: 本期节目中，Tom Gayner分享了他从查理·芒格和伯克希尔哈撒韦公司学到的经验教训，以及他独特的投资方法和对机会成本的思考。他阐述了如何区分好债务和坏债务，以及他与芒格观点相左之处，并强调了专注于基本面的重要性。他回顾了在多次金融危机中投资的经验教训，以及如何在不确定的世界中定位自己。他还分享了他在Markel集团的职业生涯，以及如何应对互联网泡沫和2008年金融危机等重大事件。Gayner强调了长期投资、关注过程而非结果、避免愚蠢行为以及保持谨慎的重要性。他认为，在投资中，要关注机会成本，思考你没有做什么以及为什么不这样做。他还强调了信任的重要性，以及在与他人合作时，要关注长期关系而非短期利益。 Shane Parrish: Shane Parrish作为主持人，引导Tom Gayner分享了他的投资理念和人生经验。他与Tom Gayner就价值投资、机会成本、风险管理、长期投资等话题进行了深入探讨，并从多个角度对Tom Gayner的观点进行了补充和阐释。

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Tom Gayner discusses the profound impact Charlie Munger has had on his investment philosophy, emphasizing the importance of deserving what you want and the transition from finding cheap businesses to finding good ones.

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Tom Gayner, CEO of Markel Group, reveals the lessons he’s learned from Charlie Munger and Berkshire Hathaway, how he invests, and the specific way he thinks about opportunity cost.

Gayner shares the difference between good debt and bad debt, where he disagrees with Munger, and why he focuses on the basics.

This intimate conversation offers a level of insight and honesty that Tom hasn’t offered anywhere else.

Gayner is currently the CEO of Markel Group and the Director of The Coca‑Cola Company. He also serves as chairman of the Davis Series Mutual Funds board and on the boards of Graham Holdings and Markel.

Listen and Learn.

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