IN THIS EPISODE, YOU’LL LEARN:<ul><li>04:02 - How Warren Buffett already read financial statements when he was kid.</li><li>12:05 - Why Warren Buffett was sitting behind the counter at the local steakhouse collecting receipts, and how that lead to one of his best investments.</li><li>24:13 - How a gentleman that counted sheets of toilet paper convinced Warren Buffett to work with him.</li><li>25:41 - Why Warren Buffett never replaces management in the companies he acquirers.</li><li>27:04 - How Warren Buffett picked the CEO of Salomon Brothers in a simple, yet very orthodox way.</li><li>41:01 - Ask the Investors: How do you generate ideas for new stock investments?</li></ul>*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCES:<ul><li>Check out our five-page executive summary of&nbsp;<a href="https://www.theinvestorspodcast.com/billionaire-book-club-executive-summary/buffett-the-making-of-an-american-capitalist/" rel="noopener noreferrer" target="_blank">Buffett: The Making of an American Capitalist</a>.</li><li>Roger Lowenstein’s book,&nbsp;<a href="https://www.amazon.com/gp/product/0812979273?ie=UTF8&linkCode=ll1&tag=tipnetwork-20&linkId=6bb5af08cd00af24694a00a0ef8e01d0&language=en_US&ref_=as_li_ss_tl" rel="noopener noreferrer" target="_blank">Buffett: The Making of an American Capitalist –&nbsp;</a><a href="https://www.amazon.com/gp/product/0812979273/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0812979273&linkCode=as2&tag=pypull-20&linkId=XJXRMOUASBMU55YE#customerReviews" rel="noopener noreferrer" target="_blank">Read reviews of this book</a>.</li><li>Alice Schroeder’s book,&nbsp;<a href="https://www.amazon.com/gp/product/0553384619?ie=UTF8&linkCode=ll1&tag=tipnetwork-20&linkId=b48e7df54329e25d6b489496bff0e986&language=en_US&ref_=as_li_ss_tl" rel="noopener noreferrer" target="_blank">The Snowball –&nbsp;</a><a href="https://www.amazon.com/gp/product/0553384619/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0553384619&linkCode=as2&tag=pypull-20&linkId=TQFQ6TBE6X6BK4LT#customerReviews" rel="noopener noreferrer" target="_blank">Read reviews of this book</a>.</li><li>Preston, Trey & Stig’s 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&nbsp;Tool</a>.</li><li>Get in early on medical technology, breakthroughs in ag tech and food production, solutions in the multi-billion dollar robotic industry, and so much more with a FREE&nbsp;<a href="https://ourcrowd.com/study" rel="noopener noreferrer" target="_blank">OurCrowd</a>&nbsp;account. Open yours today.</li><li>Find people with the right experience and invite them to apply to your job. Try <a href="https://ziprecruiter.com/wsb" rel="noopener noreferrer" target="_blank">ZipRecruiter</a> for FREE today.</li><li>Find Pros & Fair Pricing for Any Home Project for Free with&nbsp;<a href="http://angi.com/" rel="noopener noreferrer" target="_blank">Angi</a>.</li><li>Invest in the $1.7 trillion art market with&nbsp;<a href="https://www.masterworks.io/" rel="noopener noreferrer" target="_blank">Masterworks.io</a>. Use promo code WSB to skip the waitlist.</li><li>Invest in crypto and trade it without tax headaches with <a href="https://www.altoira.com/study" rel="noopener noreferrer" target="_blank">AltoIRA</a>.</li><li>If you’re a sales professional, get every real time advantage you can get with&nbsp;<a href="https://linkedin.com/wsb" rel="noopener noreferrer" target="_blank">Sales Navigator</a>. Enjoy 60 days of free trial today.</li><li>Find joy in comfort with&nbsp;<a href="https://fahertybrand.com/" rel="noopener noreferrer" target="_blank">Faherty</a>. Use promo code WSB to snag 20% off all your new spring staples!</li><li>Canada’s #1 employee benefits plan for small businesses!&nbsp;<a href="http://buychambers.ca/" rel="noopener noreferrer" target="_blank">The Chambers Plan</a>&nbsp;evolves with the way you work and live while keeping the rates stable. Opt for the&nbsp;simple, stable, and smart choice for your business.</li><li><a href="https://realestate.com.au/thisisyourlocal" rel="noopener noreferrer" target="_blank">Live local in Melbourne</a>&nbsp;and enjoy $0 Stamp Duty*!</li><li>The interval fund, a breakthrough innovation. Only at&nbsp;<a href="https://mackenzieinvestments.com/innovation" rel="noopener noreferrer" target="_blank">Mackenzie</a>.</li><li>Take advantage of a free mortgage review and learn about custom loans that can save you big money with&nbsp;<a href="https://www.americanfinancing.net/billionaires" rel="noopener noreferrer" target="_blank">American Financing</a>.</li><li>Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with&nbsp;<a href="https://avast.com/" rel="noopener noreferrer" target="_blank">Avast One</a>.</li><li>Gain the skills you need to move your career a level up when you enroll in a&nbsp;<a href="https://www.swinburneonline.edu.au/" rel="noopener noreferrer" target="_blank">Swinburne Online</a>&nbsp;Business Degree. Search Swinburne Online today.</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>See Privacy Policy at <a href="https://art19.com/privacy" rel="noopener noreferrer" target="_blank">https://art19.com/privacy</a> and California Privacy Notice at <a href="https://art19.com/privacy#do-not-sell-my-info" rel="noopener noreferrer" target="_blank">https://art19.com/privacy#do-not-sell-my-info</a>.

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Classic 11 - Warren Buffett’s Biography

We Study Billionaires - The Investor’s Podcast Network