Behind the Balance Sheet

#23B The Best Selling Author Part 2 - William Green on Munger’s Verdict, Interviewing & Why Being a Bit Weird Helps

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Jun 15, 2023
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ADVICE

Pick Subjects Who Teach Enduring Principles

  • Choose interview subjects who are admirable, thought-provoking, and sustainably successful rather than only the richest.
  • Green interviewed 40+ people then focused on those who illustrated enduring, teachable principles.
INSIGHT

Low Emotion Is A Trading Edge

  • Low emotional reactivity can be an advantage in investing because it prevents crowd-driven behavior.
  • Green says Charlie Munger and Warren Buffett 'don't feel fear' in crises, enabling contrarian buying at rare opportunities.
ADVICE

Read Outside Finance To See Hidden Value

  • Read widely beyond finance to gain contrarian frameworks and perception tools.
  • Bill Miller used philosophers Wittgenstein and William James to reframe Amazon's value and buy 15% during its crash.
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