William Green speaks with Chris Bloomstran, President & Chief Investment Officer of Semper Augustus. Chris explains how to achieve long-term success by seeking a “dual margin of safety” that comes from owning high-quality businesses at attractive prices. He also warns about the perennial dangers of irrational exuberance, which he now sees in hot stocks like Tesla & Nvidia.

IN THIS EPISODE, YOU’LL LEARN:
- What Chris Bloomstran learned from his brilliant mentor, Robert Smith.
- How Chris & Robert skillfully sidestepped the dotcom bubble & crash.
- Why Chris named his investment firm after a crazily overvalued tulip.
- What Sir John Templeton saw as the best antidote to financial insanity.
- What lessons Chris drew from an early investment that fell to zero.
- How to succeed in stocks by seeking a “dual margin of safety.”
- How his definition of a quality business has evolved.
- Why he’s skeptical about Cathie Wood’s ARK portfolio.
- Why hot tech stocks like Nvidia are likely to disappoint for many years.
- Why he’s wary of hype & “puffery” about Tesla’s glorious future.
- Why he’s trimmed great but pricey holdings like Costco & Nike.
- Why Chris Bloomstran says it’s so valuable to study Berkshire Hathaway.
- How Warren Buffett thinks about intelligent asset allocation.
- How share buybacks are mishandled by many companies.
- Why most investors shouldn’t pick stocks for themselves.
- How Chris manages his time.
- What his football coaches taught him about integrity & kindness.
- How he’s risen above a painfully difficult childhood.
- Why the key to investing success is a fierce work ethic.
- How Chris uses social media to criticize what he calls “charlatan promotion.”
- What he thinks of Berkshire’s huge stake in Apple.
- How he values Berkshire, & why it should outperform the S&P 500.
- What a legendary golfer taught him about how to live.

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▶️ RELATED EPISODES:
- What Is The REAL Intrinsic Value Of Berkshire Hathaway? w/ Chris Bloomstran: https://youtu.be/7jaFSJFYov8
- Berkshire Hathaway | All you need to know w/ Chris Bloomstran: https://youtu.be/SVuQ8ZUmMQI
- Masterclass In Valuation w/ Chris Bloomstran: https://youtu.be/b1FMYZ7C9r8

🎧 Listen to our episodes here: https://link.chtbl.com/TIP-RWH

🖊️ Access the transcript and learn more about the guest here:
- https://www.theinvestorspodcast.com/richer-wiser-happier/the-vigilant-investor-w-chris-bloomstran/
- https://www.theinvestorspodcast.com/richer-wiser-happier/lessons-from-buffett-berkshire-w-chris-bloomstran/

📖  BOOKS MENTIONED:
- Extraordinary Popular Delusions & The Madness of Crowds by Charles Mackay: https://amzn.to/44SbKJx
- The Rise & Fall of American Growth by Robert Gordon: https://amzn.to/3EA9jQW
- Richer, Wiser, Happier by William Green: https://amzn.to/3EC7aUT

Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀

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ABOUT OUR SHOW 🎙 
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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