Joys of Compounding
Episode 1 Investing, the Last Liberal Art
Joys of Compounding

Episode 1: Investing, the Last Liberal Art

Investing, the Last Liberal Art

Todd Combs is an Investment Manager at Berkshire Hathaway and CEO of GEICO. We cover his journey to working alongside Warren Buffett and Charlie Munger, how to build range across skill sets, and tactics to compound for decades.

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(00:06:36) - (First question) - How Todd’s pre-college life helped shape him

(00:09:36) - Reflecting on past curiosity and how it was directed

(00:12:10) - Undergrad years and memories he holds dear to his heart

(00:13:57) - Specialization versus generalization  

(00:16:48) - Creating greatness in all fields through patience

(00:19:18) - Why he attended business school 

(00:26:27) - The numerous job avenues students can take to become successful investors

(00:30:53) - Rick tells the history of Blue Ridge and Tiger

(00:35:53) - How his experience in short selling shaped him as an investor today

(00:41:18) - Meeting Warren Buffett and Charlie Munger 

(00:43:15) - Finding the motivation to succeed in your early career life

(00:46:38) - His experience building Castle Point 

(00:55:29) - The will to keep pursuing his career after years and decades

(00:60:48) - What he thinks Buffett and Munger saw in him

(01:09:57) - What it’s been like to be mentored by Buffett and Munger through the years

Investing, the Last Liberal Art

Introduction

Rick
 Our guest today is Todd Combs, Investment Officer at Berkshire Hathaway. In this episode, Todd will share lessons learned across the full arc of his career, beginning in the halls of the Florida state regulator and all the way through to the great plains of Omaha, Nebraska, home of the eternal compounder.

Warren Buffett and Charlie Munger are two of the greatest business minds in history and also some of the best judges of talent and character. If I were to sum up this class into a single topic, it would be exploring what these two investing giants saw in Todd to select him out of the almost 8 billion other people in the world.

Todd is a compounding machine and a terrific storyteller, full of insights and advice that all of us can benefit from. He’s also just such an authentic guy which made this class especially energizing. A special thanks to our friend, Andrew Carreon of MF value partners for his help prepping with the session. Andrew’s a gifted value investor in his own right. And it was really fun to have him stand in as our TA for this session.

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