RWH060: What Buffett, Munger & Bill Miller Taught Me w/ Robert Hagstrom

You're listening to TIP. Hi there, it's great to be back with you on the Richer, Wiser, Happier podcast. Our guest today is Robert Hagstrom, who's one of the most thoughtful writers and thinkers in the world of investing. Robert is the chief investment officer at Equity Compass, where he manages a concentrated portfolio of dominant global stocks like Nvidia, Amazon, Microsoft, ASML, Meta, and Richmond. but he's best known as the author of an iconic bestseller, the Warren Buffett Way, which laid out with tremendous clarity the principles that have made Buffett the most successful investor of our time.

We'll also discuss another of Robert's most famous role models, Bill Miller, who was the leading mutual fund manager of his generation. Robert offers unique insight into Bill, having worked alongside him for many years. As you'll hear, he witnessed up close what led Bill to make incredibly bold and prescient bets, like buying a fifteen percent stake in Amazon, at a time when nobody else understood its competitive advantages, and most of Bill's peers, frankly, expected it to go bankrupt. This is a subject close to my heart as Bill is one of my absolute favorite people in the investment world and I've interviewed him at great length over the last 25 years or so. But before we get started, I also wanted to mention very briefly a new venture that I'm extremely excited about.

Applications are now open. for the second intake of the richer, wiser, happier masterclass. This is a rare chance to study with me directly over the course of a year in an exceptionally small, intimate group of just 10 to 20 people. Starting in November, we'll meet once a month on Zoom for two hours per session, and we'll also gather in person at two unique events. The masterclass is designed for serious investors and passionate learners who want to explore in depth how to build a truly richer, wiser, happier life.

We already have this episode, so unlocking it is cheap and permanent: the full transcript (132 minutes, 26,777 words), segment and word-level timestamps, and .txt, .srt, .vtt and word-level JSON downloads, as many times as you like, forever.

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