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The world\u2019s greatest investors have a secret: they\u2019re weird.<\/p>\n
When one young fund manager met Bill Miller for the first time, he refused to shake hands. Instead, he locked eyes and declared: \u201cI\u2019m going to beat you, man.\u201d<\/p>\n
William Green joins us to share what he\u2019s learned from decades of conversations with investing legends \u2014 from the hyper-competitive to the deeply philosophical.<\/p>\n
These conversations reveal that success isn\u2019t just about strategy; it\u2019s about understanding yourself and playing to your strengths.<\/p>\n
The best investors are mavericks who think differently. They\u2019re willing to look strange, be lonely, and diverge from the crowd.<\/p>\n
Templeton demonstrated this during WWII. When Germany invaded France and markets crashed, he bought 104 stocks trading under $1 \u2014 including 37 bankrupt companies. His contrarian bet paid off 5x when markets recovered.<\/p>\n
But Green emphasizes this isn\u2019t just about getting rich.<\/p>\n
His decades of interviews reveal deeper wisdom about building a good life:<\/p>\n
\u2014 Great investors focus on what they can control. They can\u2019t predict markets, but they can manage their behavior and emotions.<\/p>\n
\u2014 They embrace simplicity. Jack Bogle advocated owning low-cost index funds rather than chasing complex strategies.<\/p>\n
\u2014 They understand odds and risk. Howard Marks asks \u201cWhat\u2019s the consequence if I\u2019m wrong?\u201d before making decisions.<\/p>\n
\u2014 They play to their strengths. Charlie Munger says if you\u2019re 5\u20193\u2033, don\u2019t try to be a pro basketball player.<\/p>\n
\u2014 They live below their means. As investor Tom Gaynor notes, \u201cIf you\u2019re living within your means, you\u2019re already rich.\u201d<\/p>\n
Green shares a practical framework called HALT PS \u2014 don\u2019t make important decisions when Hungry, Angry, Lonely, Tired, in Pain, or Stressed. This applies beyond investing to daily life.<\/p>\n
The conversation explores how to build resilience before market crashes through healthy habits, self-awareness, and preparation. Green notes that many successful investors practice meditation and read widely across disciplines.<\/p>\n
Even legends make mistakes. Bill Miller saw his assets drop from $77 billion to $800 million during the 2008 crisis. But he rebounded by staying true to his principles and learning from failure.<\/p>\n
Green\u2019s key message? Focus less on getting rich and more on building an \u201canti-fragile\u201d life aligned with your values and strengths.<\/p>\n
The best investors aren\u2019t just good at making money \u2014 they\u2019re skilled at creating lives of meaning and purpose.<\/p>\n
Find more from William Green at williamgreenwrites.com or on his podcast Richer, Wiser, Happier, featured on the We Study Billionaires feed.<\/p>\n
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Timestamps:<\/u><\/strong><\/p>\n Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths.<\/em><\/p>\n 3:00 \u2013 Meeting Sir John Templeton in the Bahamas<\/p>\n 5:12 \u2013 Templeton\u2019s WWII stock strategy during market crash<\/p>\n 14:00 \u2013 Wisdom vs survivorship bias in investing stories<\/p>\n 17:38 \u2013 Why great investors recommend index funds<\/p>\n 28:42 \u2013 Prioritizing freedom over wealth maximization<\/p>\n 38:31 \u2013 Bogle\u2019s client-first philosophy<\/p>\n 51:32 \u2013 Living below means for market volatility<\/p>\n 53:37 \u2013 HALT PS conditions leading to poor choices<\/p>\n 1:01:07 \u2013 Using data for better decision making<\/p>\n 1:07:01 \u2013 Bogle\u2019s emphasis on simple investing<\/p>\n 1:10:36 \u2013 Danoff\u2019s \u201cstocks follow earnings\u201d strategy<\/p>\n \u00a0<\/p>\n Thanks to our sponsors!<\/p>\n Shopify<\/strong><\/a> Policygenius<\/strong><\/a> NetSuite<\/strong><\/a> <\/div>\n![\"listen](\"https:\/\/affordanything.com\/wp-content\/uploads\/listen-to-afford-anything-on-itunes.png\")
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