Andrew Mellon – America’s Secret Banker [Outliers]

Most families who obtain immense wealth squander it by the third generation. But Chris Davis comes from a family whose grandfather and father all became independently wealthy of each other, and Davis has done the same. How does that keep happening? In this conversation, we find out. Shane and Chris discuss life and investment lessons he learned from his father and grandfather, why writing is more important to clarify one's thinking no matter who's reading it, and the surprising benefit of reading physical newspapers and wearing ties to work. Davis also shares his value-investing philosophy, what he learned from working with and meeting Charlie Munger, and what parents can do to raise kids who aren't entitled. Davis talks about his alcohol drink tracker and why it's important to him, why he never puts himself in situations where envy can grow, and the insights from Warren Buffett's key letter about why investment managers underperform. Chris Davis is on the board of Berkshire Hathaway and The Coca-Cola Company. Davis is Chairman of Davis Selected Advisers-NY, Inc., an independent investment management firm founded in 1969. Davis joined Davis Selected Advisers-NY, Inc. in 1989 as a financial analyst, and in 1995, he became a portfolio manager of the firm’s flagship funds. Watch the episode on YouTube: https://www.youtube.com/c/theknowledgeproject/videos Newsletter - I share timeless insights and ideas you can use at work and home. Join over 600k others every Sunday and subscribe to Brain Food. Try it: https://fs.blog/newsletter/ My Book! Clear Thinking: Turning Ordinary Moments into Extraordinary Results is out now - https://fs.blog/clear/  Follow me: https://beacons.ai/shaneparrish Join our membership: https://fs.blog/membership/ Sponsors: Eight Sleep: Sleep to power a whole new you. https://www.eightsleep.com/farnamstreet   (00:00) Intro (03:20) Life lessons Davis learned from his grandfather and father (26:24) The importance of writing things no one reads (36:55) Davis' experiences through financial crises (52:31) Why Davis loves managing a mutual fund (55:49) Why Berkshire Hathaway operates with margin (01:01:05) What is risk? (01:04:02) On low interest rates and their future impact (01:14:46) The mismatched timelines between CEOs, companies, investors, and policy (01:22:19) How Davis and Munger met (01:30:20) Lessons learned from Munger (01:41:29) Why avoiding weaknesses is the ultimate recipe for success (01:55:46) How to raise non-entitled kids and avoid lifestyle creep (01:16:10) On happiness (02:27:00) Good vs. bad board meetings (02:31:34) Three generations of wealth (02:37:15) On success Learn more about your ad choices. Visit megaphone.fm/adchoices

5 Maalis 20242h 44min

What can you do (or avoid) tomorrow to guarantee you can live longer? In this episode, Bryan Johnson reveals the five simple disciplines you can start doing to live healthier and longer. Johnson shares what his daily routine looks like, the ins and outs of his experimentation process, and why he gave his father plasma. Johnson also opens up about the constant hate he receives from people online, how he deals with it all, and what he wishes he'd known when he sold his company. Bryan Johnson is the world's most measured human. Johnson sold his company to PayPal in 2013. Through Project Blueprint, Johnson has achieved metabolic health equal to the top 1.5% of 18 year olds, inflammation 66% lower than the average 10 year old, and reduced his speed of aging by the equivalent of 31 years. Johnson is also the founder of Kernel, creator of the world’s first mainstream non-invasive neuroimaging system; and OS Fund, where he invested in the predictable engineering of atoms, molecules, and organisms. Watch the episode on YouTube: https://www.youtube.com/c/theknowledgeproject/videos Newsletter - Each week I share timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ My New Book! Clear Thinking: Turning Ordinary Moments into Extraordinary Results is out now - https://fs.blog/clear/  Follow me: https://beacons.ai/shaneparrish Join our membership: https://fs.blog/membership/ Sponsors: Eight Sleep: Sleep to power a whole new you. https://www.eightsleep.com/farnamstreet   Timecodes: (00:00:00) Intro (00:03:45) On biographies (00:08:03) On depression and coping mechanisms (00:14:18) Self-destructive behavior and how to pitch Blueprint to someone (00:26:50) What a day looks like on Blueprint (exercise and what to eat) (00:42:06) How to turn Blueprint protocols into habits (00:45:17) Embracing the hate (00:49:07) The downsides and lessons of making money (00:59:22) The five habits (01:05:09) Why does posture matter? (01:07:48) Relationship between biological health and sexual health (01:09:50) Hair-loss prevention (01:15:46) Sunscreen, plastics, and other miscellaneous impacts on aging (01:18:30) How will AI help us? (01:22:10) On success Learn more about your ad choices. Visit megaphone.fm/adchoices

20 Helmi 20241h 26min

Dr. Becky Kennedy shares the crucial life and parenting skills you need but didn't get taught on regulating emotions, setting boundaries, and the best sentence you can say when a partner tells you something difficult. This episode applies to EVERY relationship in your life, not just your kids. Get ready to parent more effectively with less stress, repair after a disagreement, regulate emotions, and unlock the next level in all of your relationships.  Dubbed the “The Millennial Parenting Whisperer” by TIME Magazine, Dr. Kennedy is the #1 New York Times bestselling author of Good Inside: A Guide to Becoming the Parent You Want to Be. She also hosts “Good Inside with Dr Becky,” the top kids and family show on Apple Podcasts. Follow Becky https://www.instagram.com/drbeckyatgoodinside/ Watch the episodes on YouTube: https://www.youtube.com/c/theknowledgeproject/videos Newsletter - Each week I share timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ My New Book! Clear Thinking: Turning Ordinary Moments into Extraordinary Results is out now - https://fs.blog/clear/  Follow me: https://beacons.ai/shaneparrish Join our membership: https://fs.blog/membership/ Sponsors: Eight Sleep: Sleep to power a whole new you. https://www.eightsleep.com/farnamstreet Metalab: https://www.metalab.com   Learn more about your ad choices. Visit megaphone.fm/adchoices

6 Helmi 20241h 56min

Tom Gayner, CEO of Markel Group, reveals the lessons he’s learned from Charlie Munger and Berkshire Hathaway, how he invests, and the specific way he thinks about opportunity cost. Gayner shares the difference between good debt and bad debt, where he disagrees with Munger, and why he focuses on the basics. This intimate conversation offers a level of insight and honesty that Tom hasn’t offered anywhere else. Gayner is currently the CEO of Markel Group and the Director of The Coca‑Cola Company. He also serves as chairman of the Davis Series Mutual Funds board and on the boards of Graham Holdings and Markel. Listen and Learn. -- Watch the episodes on YouTube: https://www.youtube.com/c/theknowledgeproject/videos Newsletter - Each week I share timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ My New Book! Clear Thinking: Turning Ordinary Moments into Extraordinary Results is out now - https://fs.blog/clear/  Follow me: https://beacons.ai/shaneparrish Join our membership: https://fs.blog/membership/ Sponsors: Eight Sleep: Sleep to power a whole new you. https://www.eightsleep.com/farnamstreet Sidebar: Accelerate your career. https://www.sidebar.com/shane Metalab: https://www.metalab.com     Learn more about your ad choices. Visit megaphone.fm/adchoices

23 Tammi 20242h 9min

Blake Eastman has dedicated his entire life to psychology and nonverbal behavior.   In 2009 he founded The Nonverbal Group, a  behavioral research and education company in New York City which conducts large scale studies on human behavior and uses a wide range of technologies to systematically deconstruct and improve human communication.   Eastman dives deep into how we communicate with one another, including the ability to read nonverbal cues, his thoughts on big talkers vs. silent types, how we can communicate with our partners without complaining, the value of watching ourselves communicate on video, understanding the power structures and social dynamics at work, and so much more.   Eastman has also served as an adjunct psychology professor at the City University of New York for six years where he taught General Psychology, Developmental Psychology, and Group Dynamics. He is also a former professional poker player and the founder of School of Cards, the first brick-and-mortar poker school in New York City.   Listen and Learn -- Watch the episodes on YouTube: https://www.youtube.com/c/theknowledgeproject/videos Newsletter - Each week I share timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ My New Book! Clear Thinking: Turning Ordinary Moments into Extraordinary Results is out now - https://fs.blog/clear/  Follow me: https://beacons.ai/shaneparrish Join our membership: https://fs.blog/membership/ Sponsors: Eight Sleep: Sleep to power a whole new you. https://www.eightsleep.com/farnamstreet Sidebar: Accelerate your career. https://www.sidebar.com/shane   Learn more about your ad choices. Visit megaphone.fm/adchoices

9 Tammi 20241h 42min

The Knowledge Project closes 2023 with a look back at some of the best conversations of the year. Featuring interviews from nine of the most downloaded and acclaimed episodes of 2023, this collection of conversations offers a variety of insights into the power of intention, how to become a better listener, how to give and receive feedback at work, the Four Pillars of Integrity, facing the realities of life, the importance of having deadlines, taking responsibility, building trust in a large organization, and when to double-down on your plans for success.   Guests on this episode include: Mindfulness expert Jack Kornfield, executive coach Carloyn Coughlin, organizational expert Aaron Dignan, leadership expert Jim Dethmer, venture capitalist Ravi Gupta, author and Wired co-founder Kevin Kelly, doctor of psychology Julie Gurner, veteran CEO Frank Slootman, and performance psychologist Gio Valiante. -- Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/ Every Sunday our Brain Food newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ Follow Shane on Twitter at: https://twitter.com/ShaneAParrish Our Sponsors: MetaLab: Helping the world’s top companies design, build, and ship amazing products and services. https://www.metalab.com Aeropress: Press your perfect cup, every time. https://aeropress.com Sidebar: Accelerate your career. https://www.sidebar.com Learn more about your ad choices. Visit megaphone.fm/adchoices

26 Joulu 20231h 34min

When Paul Assaiante announced his retirement from coaching the men's squash team at Trinity College in Connecticut earlier this year, it marked the end of the most successful run for any coach in the history of college athletics. During his tenure, Assaiante guided Trinity to 17 national titles, including 13 consecutive championships and 252 wins in a row from 1999 to 2011. On this episode of The Knowledge Project, Assaiante draws on his 30 years of coaching to discuss the lessons he learned during his career. These lessons include how to conquer fear and anxiety, why safety is actually found when facing adversity, the importance of practice, and what's keeping you from reaching your goals. Assaiante is also the author of the 2012 book, Run to the Roar: Coaching to Overcome Fear. Listen and learn. -- Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/ Every Sunday our Brain Food newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ Follow Shane on Twitter at: https://twitter.com/ShaneAParrish Our Sponsors: MetaLab: Helping the world’s top companies design, build, and ship amazing products and services. https://www.metalab.com Aeropress: Press your perfect cup, every time. https://aeropress.com Sidebar: Accelerate your career. https://www.sidebar.com Learn more about your ad choices. Visit megaphone.fm/adchoices

12 Joulu 20231h 13min

We all inhabit different identities throughout our day. Perhaps we’re entrepreneurs or employees, mothers or fathers, athletes or CEOs. But how can you harness the strengths of these different identities to get the best out of yourself? And can these different identities be used to get through tough times? Todd Herman calls on more than two decades of experience working with top performers on performance, strategy, mindset, and execution to discuss his thoughts on peak performance, the value of patience, the fear that prevents us from performing our best, imposter syndrome, and how he worked with Kobe Bryant to build the legendary alter-ego of The Black Mamba. Herman has worked with elite athletes, peak performers, and entrepreneurial leaders for over 22 years. He helps them achieve their most ambitious goals by becoming more resilient, creative, confident, and courageous. He is also the author of the bestselling book The Alter Ego Effect. -- Want even more? Members get early access, hand-edited transcripts, member-only episodes, and so much more. Learn more here: https://fs.blog/membership/ Every Sunday our Brain Food newsletter shares timeless insights and ideas that you can use at work and home. Add it to your inbox: https://fs.blog/newsletter/ Follow Shane on Twitter at: https://twitter.com/ShaneAParrish Our Sponsors: MetaLab: Helping the world’s top companies design, build, and ship amazing products and services. https://www.metalab.com Aeropress: Press your perfect cup, every time. https://aeropress.com Vanta: Helping you get compliance-ready, fast. https://www.vanta.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

28 Marras 20231h 42min