How To Succeed In Business, Investing, & Life w/ Tom Gayner (RWH024)

William Green chats with Tom Gayner, one of the great long-term investors of our time. Tom is the CEO of the Markel Corporation, a global financial holding company, where he oversees about 20,000 employees. Here, he shares his time-tested advice on how to achieve enduring success in business & investing while also building a happy & fulfilling personal life.
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:00:38 - How Tom Gayner made a fortune by setting up a retirement account at age 14.
00:11:15 - What he learned from his grandmother about the glory of long-term compounding.
00:14:11 - How to succeed through steady, persistent progress over long periods of time.
00:24:13 - Why humor, fun, & joyfulness are central aspects of Tom’s approach to work.
00:29:36 - Why it’s so helpful to set down your thoughts, principles, & values in writing.
00:31:57 - Why we should bet on companies that do things “for” their customers, not “to” them.
00:36:19 - What Charlie Munger teaches about the secret of success.
00:43:09 - How to flourish in business & life by compounding relationships built on trust & love.
00:52:21 - How Berkshire Hathaway embodies everything Tom looks for in a business.
01:01:02 - What we can learn about investing from the comedian Jerry Seinfeld.
01:04:20 - How Tom approaches the challenge of appraising a person’s talent & integrity.
01:09:40 - Why he prefers to aim for satisfaction, not optimization.
01:19:15 - Why you should never check your luggage when you travel.
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On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.
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[@WeStudyBillionaires]

📌 Check out this video next: kzbin.info/www/bejne/fWLcgpavoLCMgMk ⚠ IMPORTANT: Please beware of cyber scams and phishing attacks. We will never ask for your contact info in the comments section. Kindly report suspicious accounts you see below. Thank you!

[@ChuaLeeing]

Y*re 9 y66rr😢r449|04 9 and 9|449|5575 47 4r 95 r 45 444y red 4 449-new-cases-four-more-deaths-in-sabah 5 4 70 45 5455 84 4r 4.8 7 449-new-cases-four-more-deaths-in-sabah 4 5 5 |55r|rkrrrr😅r 666 65😮😢

[@Hustlerwithclass]

Good interview. Can you interview Peter Lynch or Li Liu ?

[@racerx6]

The sales tax surprise on the Matchbox cars had me laughing. I remember my first time as a child experiencing the sales tax on an item. Great interview

[@theharsh2005]

William Green is the best interviewer

[@WeStudyBillionaires]

Thank you so much! 🙌

[@TheKiman2]

What Mr. Gayner said about trust and about what can I do to help someone today.... those were pretty profound, especially the latter. So many of us are taught to put self first, as in "what can someone do for me today". It might seem pretty common sense but sometimes someone has to say it.

[@JamesToler]

I love Mr. Gayners candid style of presenting rationally yet humbly with a focus on maximizing value to the audience. He’s an absolute hero and role model on how others can live a purposeful life when focus on your passion. Excellent interview. **Do business with those who do FOR their customers and not TO their customers.** Keep those customers delighted one at a time ❤

[@WeStudyBillionaires]

Thank you so much for watching, James!

[@freesancocho]

Infinite win-win game 🎯

[@pipebliss]

Tom Gayner is a true gem. I enjoyed this.

[@WeStudyBillionaires]

So glad to hear that!

[@KamilMauel]

Be friendly, logical, consistent, long-term focused and have your little own non-podcastable secret 😃

[@macfin4862]

This is really, really good. You're a great interviewer Willam

[@WeStudyBillionaires]

Glad you enjoyed the video!

[@RicherWiserHappier]

Thanks so much, Mac Fin! That's very kind of you. Tom Gayner definitely makes an interviewer's life a whole lot easier! Warm wishes, William

[@Gjackliu]

Thank you, William! The "infinite game" is really interesting. I will pick up the book mentioned in the interview and learn more about it. I always get inspired by your interview. Thanks to you, I think I became a tiny little bit more clever than when I woke up this morning. Can't wait for your next interview.

[@WeStudyBillionaires]

Wonderful, Ken! Thanks so much for watching.

[@pkozanov]

William, thank you for this amazing video. Just a few hours ago, I was listening to your conversation with Lauren Templeton. I really liked the part when you talked about Mr. Gayner. I hope I will have a chance to meet him at the Markel brunch in Omaha this year. By the way, thank you for answering my question at the end of the I"nvesting the Templeton Way" podcast. 🙏

[@WilliamGreenRicherWiserHappier]

Thanks so much! I'm so glad you enjoyed this conversation with Tom Gayner & the podcast with Lauren Templeton. Much appreciated! Hope to see you at the Markel brunch. Warm wishes, William

[@trevormacdougall9385]

William - another superb interview. Always enjoy all of your interviews. So well done. 😊

[@WilliamGreenRicherWiserHappier]

Many thanks, Trevor. Warm wishes, William

[@papas7676]

Agree, always a pleasure to listen to William interviewing

[@austinlin42]

He is so rational, humble, and thoughtful!(The biggest change is now willing to pay extra for🥑🤣)💡 Thanks William for this episode, such a great chat!

[@WeStudyBillionaires]

Glad you enjoyed the video! 🙌

[@JC-ed9yi]

This is magical, thank you!

[@WilliamGreenRicherWiserHappier]

Thanks so much! Warm wishes, William

[@justinbeghly1435]

Brilliant

[@WilliamGreenRicherWiserHappier]

Thanks so much, Justin. Warm wishes, William

[@mmm-cake]

Mannn, now I want a jelly donut 🍩

[@HepCatJack]

When you read the writings of Richard Demille Wyckoff and of Peter Lynch, you will sometimes see the price that they get out of a security, only to get back in at a later time at a much higher price. Lynch realized that at times he was watering the weeds Wyckoff didn't comment on that aspect.

[@mitchlockhart3568]

👍🏻

[@andreasneeb7448]

Does somebody know whitch book from Annie Duke Tom Gayner means? (1:13:43)

[@WeStudyBillionaires]

Hi Andreas, it's 'Thinking in Bets': amzn.to/3H3XWSP Hope this helps!

[@py8130]

what is the moral behind the "never check your luggage" story?

[@mikell.6064]

It’s basically to not be so attached to what you have because you might lose it and being ok with letting go of things outside of our control

[@marksoberay2318]

You know this guy has a nice portfolio has a lot of money makes a lot of money and enjoys that guacamole I watch a lot of podcasts like this and I think this is pathetic, show me somebody with a portfolio....a portfolio of amazing life experiences

[@nobobonobo]

Ayo you did him dirty in thumbnail He look like a thumb