Guy Spier | Secret To Building Long-Term Wealth (RWH009)

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William Green speaks with Guy Spier, a renowned hedge fund manager who has beaten the S&P 500 by almost 250 percentage points since launching the Aquamarine Fund in 1997. Guy is also the author of a classic memoir, “The Education of a Value Investor.” This conversation has been divided into two episodes. Here, in Part 1, Guy discusses how to build enduring wealth by investing in extraordinary businesses that will survive and prosper even in tumultuous times.
IN THIS EPISODE, YOU'LL LEARN:
00:00:00 - Intro
00:04:13 - How Guy Spier’s ancestors lost their family fortune and became refugees in the 1930s.
00:13:57 - How Guy was shaped by this story and embarked on a quest to restore their lost fortune.
00:24:17 - Why investors need to recognize that nothing is stable and everything changes.
00:27:30 - Why Guy settled in Switzerland and why he worries about the future of the U.S.
00:35:20 - Why he doesn’t like Bitcoin or gold, preferring to own “productive assets.”
00:44:22 - Why it’s critical to invest in a way that’s true to your own nature.
00:52:44 - Why so many highly intelligent and talented fund managers end up failing.
01:01:26 - How the crash of overvalued growth stocks proves again that “price really does matter.”
01:06:14 - Why Nick Sleep’s concept of “destination analysis” is such a valuable filter for investors.
01:12:59 - How to prosper by owning great businesses that occupy the “economic high ground.”
01:25:58 - Why it’s so important to size your bets correctly and not get too carried away.
01:35:06 - How Guy clones people like Warren Buffett and Mike Ovitz, yet tries to be true to himself.
01:42:19 - How Buffett taught him that every person is an equal soul and should carry equal weight.
01:47:21 - What Buffett figured out about the benefits of becoming more lovable and kinder.
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✔️ Subscribe to Bitcoin Fundamentals/We Study Billionaires podcast show: link.chtbl.com/RWH009
🖊️ Access our free show notes and transcript here: www.theinvestorspodcast.com/r...
📖BOOKS MENTIONED:
- Richer, Wiser, Happier by William Green - amzn.to/3JejudP
- The Education of a Value Investor - amzn.to/3nFrOuQ
Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😁
▶️PAST EPISODES MENTIONED
- TIP168: Guy Spier
The Education Of A Value Investor - • TIP168: Guy Spier - Th...
- TIP14: Guy Spier - My Lunch With Warren Buffett
W/ Guy Spier - • TIP14: Lunch With Warr...
- TIP15: Lunch With Warren Buffett II - With Guy Spier - • TIP15: Lunch With Warr...
💡OTHER RESOURCES
- William's Twitter Account - / williamgreen72
- Guy Spier’s Free Newsletter - www.guyspier.com/newsletter/
- Guy Spier’s Podcast and Website - www.guyspier.com/
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🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: • 🏠 Real Estate 101 💵
💸Get introduced to the world of investing with our Millennial Investing podcast show: • 💸 Millennial Investing 🎯
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[@InvestingwithTom]

Guy is a great human being. Was very cool to meet you both in Omaha this year. Hope to do it again one day!

[@TheInvestorsPodcastNetwork]

Thanks so much for watching, Tom!

[@mdmosiurrahman2526]

Thanks.... Knowledge

[@Xoq123]

Thank you both.

[@TheInvestorsPodcastNetwork]

Our pleasure! Thank you for your support!🙌🏼

[@georgesotiriou7051]

Interesting. Learning about Guy's family history helps put into perspective his cautious investment approach.

[@TheInvestorsPodcastNetwork]

Glad you enjoyed it, George!

[@josezamora5908]

William and Guy - what a great interview! It was fascinating to learn about Guy’s family history through several generations. My kind of discussion. Truly revealed Guy’s soul, strengths, and perceived weaknesses. Thanks for sharing. I learned a lot!

[@TheInvestorsPodcastNetwork]

Glad you enjoyed it!

[@PatAlpaugh4]

I read both of your books within the last year, incredible books, thank you both for your honesty and hard work

[@TheInvestorsPodcastNetwork]

Awesome! Thank you, Patrick!

[@chrisb481]

@guy thank you for being so candid and open. I appreciate your philosophy and view of the world. A great example to follow.

[@TheInvestorsPodcastNetwork]

Thanks so much for watching, Chris!

[@davidwilson9976]

Enjoyed the discussion about how during a bull market you have the internal fortitude to not be sucked into making great leaps of faith.

[@tempioxavo]

William you are the best investment this podcast has ever made and probably will! Thank you as always to both of you for your book and willingness to teach, thank you!

[@TheInvestorsPodcastNetwork]

Thank you so much for the support!

[@RicherWiserHappier]

Many thanks! Warm wishes, William

[@damssen3234]

‘everything changes’ goes further back. We hear this from Heraclitus through Plato. but, it’s likely much older than that. it clearly contains such valuable insight that it has survived many generations to filter down to us today.

[@TheInvestorsPodcastNetwork]

Thank you so much for watching!

[@HaruSakamoto]

This video will make my weekend thanks! 😊 this is much more beneficial than Netflix shows or fictional Marvel movies.

[@TheInvestorsPodcastNetwork]

Hope you enjoyed them!

[@obrYo]

Thak you for a great discussion especially the stuff on destination analysis and buying the most important high quality assets.

[@TheInvestorsPodcastNetwork]

Glad it was helpful!

[@joeriley8817]

wow what a powerful podcast this has taught me a lot.

[@TheInvestorsPodcastNetwork]

Glad it was valuable for you, Joe!

[@siddarthmohta8504]

Excellent interview

[@TheInvestorsPodcastNetwork]

Happy to hear it!

[@jameswalker366]

Would be really interested to know Aquamarine Fund’s average annual return.

[@clayfinck431]

William mentions it in the intro to the podcast episode. That intro isn’t included on KZbin.

[@konstantinschuster7825]

I read somewhere it is around 9%, I think he did extremely well earlier, in the 2000s and 2010s. Please correct me, if someone else has better knowledge

[@Oleg-sx5uc]

Suddenly a real gem in the middle of nowhere

[@TheInvestorsPodcastNetwork]

Thank you so much!

[@liltunafish1471]

Totally. Pleasantly surprised when this popped up. My morning is complete

[@fuhat1040]

cant wait. great video guy. you to williaam green.

[@TheInvestorsPodcastNetwork]

Enjoy!

[@angelsancheese]

1:19:15 Noooo I reallly like $ANF they have a good brand, I consider that high competitive advantage

[@DM-bn6bf]

Let's start a thread of comments What does economic high ground and destination analysis look like to you?

[@Web4Humanity-Humanverse]

The best return on investment is when you invest in humanity and not money

[@YasinNabi]

Passive income is the only way you can be part of 10% population and seprate yourself from the Average population. YASIN NABI~~

[@frederickfrost6561]

Fantastic video! I would submit for consideration that Bitcoin is the economic high ground for crypto! :)

[@treytrey6011]

What about those of us without the means to escape to Switzerland? The 99 percent of us. Who is this recording for?

[@josubarbariassalinas389]

An investor should not clone. Specially if you are profesional and charge commisions, to clone is a shame. You should buy different stocks than berkshire . Instead , you buy BKH, and have the hard face to charge a commision. No more comments

[@ryanbaileyboxing]

This guy talks around questions like Michael Saylor 😆

[@MAchannel2024]

Every time I hear of Jews being persecuted makes me feel so sad, but then they go and take over Palestine and take over their land and take their anger on these people for what the Germans did to them. Humans are awful

[@ITOXIC_YT]

His family would have fled with gold. The asset class that Buffett and Munger look down upon 🙄

[@MonkeySpecs301]

1960-1980 the s&p didn’t go anywhere, just saying.

[@SaurabhTiwari08]

Cajones 😂😂😂