Timeless Investment Wisdom From Working With Charlie Munger | Chris Davis

They say wealth doesn't last beyond three generations. Chris Davis is living proof that sometimes, it does - and then some. Coming from a family where each generation has built their own fortune, Davis has not only achieved remarkable success as Chairman of Davis Selected Advisers but also as a Director of Coca-Cola. What are the secrets behind this multi-generational success in the world of finance? In this conversation, we uncover the principles and strategies that have allowed Chris Davis to not only build a multi-billion dollar portfolio, but to also carry on a legacy of astute investing. 00:00 - Intro 00:20 - Lessons Davis learned from his father and grandfather 22:34 - The importance of writing things no one reads 33:05 - Davis' experiences through financial crises 48:41 - Why Davis loves managing a mutual fund 51:59 - Why Berkshire Hathaway operates with margin 57:15 - What is risk? 01:00:12 - On low-interest rates and their future impact 01:10:56 - The mismatched timelines between CEOs, companies, investors, and policy 01:18:29 - How Davis and Munger met 01:26:30 - Lessons learned from Munger 01:37:39 - Why avoiding weaknesses is the ultimate recipe for success 01:51:56 - How to raise non-entitled kids and avoid lifestyle creep 01:12:20 - On happiness 02:23:10 - Good vs. bad board meetings 02:27:44 - Three generations of wealth 02:33:25 - On success -- OUR FREE NEWSLETTER: https://fs.blog/newsletter/ 📈  OUR MOST POPULAR INTERVIEWS 🎬  The Full Story of Naval Ravikant: https://youtu.be/mGY2To_HW98 🎬  Bill Ackman - Getting Back Up: https://youtu.be/mIS3LYxgVWc 🎬  Secrets to Healthy Relationships with Esther Perel: https://youtu.be/atXKntdX2UY 🎙 Listen to the show  iTunes: https://podcasts.apple.com/us/podcast/the-knowledge-project-with-shane-parrish/id990149481 Spotify: https://open.spotify.com/show/1VyK52NSZHaDKeMJzT4TSM?si=abde3cc6a48d43ef GET IN TOUCH 🌍 Our website - www.fs.blog JOIN OUR COMMUNITY https://fs.blog/membership/ ABOUT THE KNOWLEDGE PROJECT Like the mentor you’ve always dreamed of having, The Knowledge Project shares timely yet timeless lessons for work and life. Past guests include Naval Ravikant, Daniel Kahneman, Jim Collins, Angela Duckworth, Seth Godin, Melanie Mitchell, & Esther Perel.