In this episode, William Green chats with hedge fund manager Christopher Begg, who is the CEO, Chief Investment Officer, & co-founder of East Coast Asset Management. Chris is also a revered professor at Columbia Business School, where he teaches the Security Analysis class that was originally taught by Warren Buffett’s mentor, Ben Graham. Here, Chris shares powerful lessons on how to identify high-quality businesses & build a life that’s defined by a commitment to quality.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro03:54- How Chris Begg came to teach an investing class originally taught by Ben Graham.10:29 - What Chris learned from his ten fireside chats with Berkshire Hathaway’s Todd Combs.13:17 - What Buffett & Munger taught Chris about focusing on a few great businesses.17:58 - How he finds undervalued stocks by asking, “Where are the clouds today?”26:55 - Why he’s bullish on Meta & Google, despite an array of perceived threats.36:09 - How he identifies great businesses by seeking 8 layers of competitive advantage.47:13 - How to succeed through “persistent incremental progress eternally repeated.”1:00:01 - Why investors can’t afford to ignore a company’s impact on the environment.1:06:40 - Why consistent kindness is a potent ingredient of success, helping to build trust.1:15:22 - How Chris gains an edge by continuously compounding his interdisciplinary knowledge.1:32:17 - What he’s learned about the pursuit of excellence from surfing with Josh Waitzkin.1:40:48 - Why Chris structures his workday to include meditation & contemplation.1:50:46 - What studying Andrew Carnegie—once the world’s richest person—has taught him.1:53:40 - Why Chris believes that the world is headed in a better direction.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCES<ul><li>Chris Begg’s investment firm,&nbsp;<a href="https://www.eastcoastasset.com/" rel="noopener noreferrer" target="_blank">East Coast Asset Management</a>.</li><li><a href="https://www.amazon.com/One-Many-VISA-Chaordic-Organization/dp/1576753328?crid=17L57CU8SM2MP&keywords=one+from+many+dee+hock&qid=1684951732&sprefix=one+from+many%2Caps%2C98&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=0ede5f53d30e0466bb440c0f280bbe55&language=en_US&ref_=as_li_ss_tl" rel="noopener noreferrer" target="_blank">One from Many</a>&nbsp;by Dee Hock.</li><li>Nick Sleep’s list of&nbsp;<a href="https://igyfoundation.org.uk/short-term-v-long-term/" rel="noopener noreferrer" target="_blank">long-term vs short-term characteristics</a>.</li><li>Robert Pirsig’s&nbsp;<a href="https://www.amazon.com/Zen-Art-Motorcycle-Maintenance-Inquiry/dp/0060839872?_encoding=UTF8&qid=&sr=&linkCode=ll1&tag=tipnetwork-20&linkId=c55e897a0298fca89c53266ce2334df4&language=en_US&ref_=as_li_ss_tl" rel="noopener noreferrer" target="_blank">Zen & the Art of Motorcyle Maintenance</a>,&nbsp;<a href="https://www.amazon.com/Lila-Robert-M-Pirsig/dp/1846881544?_encoding=UTF8&qid=&sr=&linkCode=ll1&tag=tipnetwork-20&linkId=f3e1ef30416d4582fbeef0e7d7e60c08&language=en_US&ref_=as_li_ss_tl" rel="noopener noreferrer" target="_blank">Lila</a>, &&nbsp;<a href="https://www.amazon.com/Quality-Excellence-Unpublished-Selected-Writings/dp/0063084643?content-id=amzn1.sym.4afc730c-c08d-48ba-8a05-81aa212c56f6%3Aamzn1.sym.4afc730c-c08d-48ba-8a05-81aa212c56f6&crid=2P4DPQTKY3F0W&cv_ct_cx=robert+pirsig&keywords=robert+pirsig&pd_rd_i=0063084643&pd_rd_r=0c61feb0-a872-4f5f-ab94-3e551af6b4e6&pd_rd_w=e2PO6&pd_rd_wg=PSZIp&pf_rd_p=4afc730c-c08d-48ba-8a05-81aa212c56f6&pf_rd_r=CSVWH6HEQEB5AMKH53BC&qid=1684706491&sbo=RZvfv%2F%2FHxDF%2BO5021pAnSA%3D%3D&sprefix=robert+pirsig%2Caps%2C97&sr=1-2-42c1d7c4-51c2-42cf-80a4-c0488607bdfe&linkCode=ll1&tag=tipnetwork-20&linkId=6f525dc0210e82b0cf4508a0c8dfdcea&language=en_US&ref_=as_li_ss_tl" rel="noopener noreferrer" target="_blank">On Quality</a>.</li><li><a href="https://www.amazon.com/Finite-Infinite-Games-James-Carse/dp/1476731713?_encoding=UTF8&qid=1684706622&sr=1-1&linkCode=ll1&tag=tipnetwork-20&linkId=d8a05a6df3328f488f9b9e1449247dc9&language=en_US&ref_=as_li_ss_tl" rel="noopener noreferrer" target="_blank">Finite & Infinite Games</a>&nbsp;by James Carse.</li><li>William Green’s book, “Richer, Wiser, Happier” –&nbsp;<a href="https://www.amazon.com/Richer-Wiser-Happier-Greatest-Investors/dp/1501164856?&linkCode=ll1&tag=tipnetwork-20&linkId=6d4747ec6a54482eb95b824f8f0d2789&language=en_US&ref_=as_li_ss_tl" rel="noopener noreferrer" target="_blank">read the reviews of this book</a>.</li><li>William Green’s&nbsp;<a href="https://twitter.com/williamgreen72" rel="noopener noreferrer" target="_blank">Twitter</a>.</li></ul>NEW TO THE SHOW?<ul><li>Check out our&nbsp;<a href="https://www.theinvestorspodcast.com/we-study-billionaires-starter-packs/" rel="noopener noreferrer" target="_blank">We Study Billionaires Starter Packs</a>.</li><li>Browse through all our episodes (complete with transcripts)&nbsp;<a href="https://www.theinvestorspodcast.com/richer-wiser-happier/" rel="noopener noreferrer" target="_blank">here</a>.</li><li>Try our tool for picking stock winners and managing our portfolios:&nbsp;<a href="https://www.theinvestorspodcast.com/tip-finance/" rel="noopener noreferrer" target="_blank">TIP Finance Tool</a>.</li><li>Enjoy exclusive perks from our&nbsp;<a href="https://www.theinvestorspodcast.com/affiliates/" rel="noopener noreferrer" target="_blank">favorite Apps and Services</a>.</li><li>Stay up-to-date on financial markets and investing strategies through our daily newsletter,<a href="https://www.theinvestorspodcast.com/newsletters/" rel="noopener noreferrer" target="_blank">&nbsp;We Study Markets.</a></li><li>Learn how to better start, manage, and grow your business with the&nbsp;<a href="https://www.theinvestorspodcast.com/podcasts/20-best-business-podcasts/" rel="noopener noreferrer" target="_blank">best business podcasts</a>.&nbsp;</li></ul>P.S The Investor’s Podcast Network is excited to launch a&nbsp;<a href="https://clicks.aweber.com/y/ct/?l=7HQTa&m=3hIUiG6T8vBkNOB&b=8NVZC.qh9__ur.qME8mcEQ" rel="noopener noreferrer" target="_blank">subreddit</a>&nbsp;devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit&nbsp;<a href="https://clicks.aweber.com/y/ct/?l=7HQTa&m=3hIUiG6T8vBkNOB&b=8NVZC.qh9__ur.qME8mcEQ" rel="noopener noreferrer" target="_blank">r/TheInvestorsPodcast</a>&nbsp;today!SPONSORS<ul><li>If you’re aware you need to improve your bitcoin security but have been putting it off,&nbsp;<a href="https://unchained.com/concierge" rel="noopener noreferrer" target="_blank">Unchained Capital</a>‘s Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.</li><li>Have peace of mind knowing&nbsp;<a href="https://river.com/" rel="noopener noreferrer" target="_blank">River</a>&nbsp;holds Bitcoin in multi-sig cold storage with 100% full reserves.</li><li>What does happen when money and big feelings mix? Tune in to find out on the new podcast,&nbsp;<a href="https://podcasts.apple.com/ca/podcast/open-money-by-servus-credit-union/id1674940247" rel="noopener noreferrer" target="_blank">Open Money</a>, presented by Servus Credit Union.</li><li>Make connections, gain knowledge, and uplift your governance CV by becoming a member of the&nbsp;<a href="https://aicd.com.au/member" rel="noopener noreferrer" target="_blank">AICD</a>&nbsp;today.</li><li>Enjoy flexibility and support with free cancellation, payment options, and 24/7 service when booking travel experiences with&nbsp;<a href="https://www.viator.com/" rel="noopener noreferrer" target="_blank">Viator</a>. Download the Viator app NOW and use code VIATOR10 for 10% off your first booking.</li><li>Join over 5k investors in the data security revolution with&nbsp;<a href="https://invest.atakama.com/wsb" rel="noopener noreferrer" target="_blank">Atakama</a>.</li><li>Apply for the Employee Retention Credit easily, no matter how busy you are, with&nbsp;<a href="https://getrefunds.com/" rel="noopener noreferrer" target="_blank">Innovation Refunds</a>.</li><li>Invest your retirement savings in what YOU know and are passionate about with a Self-Directed IRA with&nbsp;<a href="https://ndtco.com/" rel="noopener noreferrer" target="_blank">New Direction Trust Company</a>.</li><li>Send, spend, and receive money around the world easily with&nbsp;<a href="https://wise.com/tip" rel="noopener noreferrer" target="_blank">Wise</a>.</li><li>Beat FOMO and move faster than the market with&nbsp;<a href="https://alpha-sense.com/fs" rel="noopener noreferrer" target="_blank">AlphaSense</a>.</li><li>Support our free podcast by supporting our&nbsp;<a href="https://theinvestorspodcast.com/sponsors" rel="noopener noreferrer" target="_blank">sponsors</a>.</li></ul>HELP US OUT!Help us reach new listeners by leaving us a&nbsp;<a href="https://docs.google.com/presentation/d/1Rnl5KGxmrYISQ7UfbEREMN-AD6b40i6CwWUbXaTabmI/edit" rel="noopener noreferrer" target="_blank">rating and review</a>&nbsp;on&nbsp;<a href="https://podcasts.apple.com/us/podcast/we-study-billionaires-the-investors-podcast-network/id928933489" rel="noopener noreferrer" target="_blank">Apple Podcasts</a>! 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RWH027: High-Quality Investing w/ Christopher Begg

We Study Billionaires - The Investor’s Podcast Network