Category Archive

In this interview with Excess Returns, Guy Spier explains that in a randomly selected portfolio held over a long period, most returns come from a few big winners, while many stocks do little or lose value. He emphasizes the challenge of intervening in a portfolio, as transaction costs and the … Read More

During his recent episode with The Investor’s Podcast, Guy Spier reflects on taking risks, particularly for young people in their twenties. He believes that this is the ideal time to take career and financial risks since there is ample time to recover from potential failures. He advises embracing opportunities like … Read More

In this interview, Guy Spier discusses the importance of having a robust decision-making process when investing, as good processes can lead to bad results and vice versa due to uncontrollable external factors. He emphasizes structuring decisions to account for multiple possibilities and uncertainties, aiming for a good life regardless of … Read More

During this interview with RWH, Guy Spier makes that point that an investor’s success is influenced by factors beyond their talent or knowledge. Specifically, he highlights the role of underlying factors like family background and financial security. Here are the key points: Investors’ background matters: Spier believes factors like family … Read More

During this interview with The Young Investors Podcast, Guy Spier discusses the difficulty of investing and how it’s comparable to other challenging pursuits, such as cycling. He also shares a personal experience of asking Warren Buffett if investing gets easier over time. Here’s an excerpt from the interview: Spier: I … Read More

In this interview with The Compound, Guy Spier discusses Warren Buffett’s dedication to investing, and his ability to focus on financial matters while having little interest in other activities like leisure or reading literature. Here’s an excerpt from the interview: Spier: So I don’t know him well enough. I mean … Read More

In this interview with William Green, Guy Spier discusses the challenge of deciding whether to trim investments when the valuation of a position has greatly appreciated. Here’s an excerpt from the interview: Spier: In the Berkshire case we can take the example of Coca-Cola, where that investment has been held … Read More

During this interview with IWT, Guy Spier discusses taking calculated risks. Spier says it’s better to carefully walk down a path, even if you don’t know where it leads, than to jump off a cliff without a plan. Here’s an excerpt from the interview: Spier: Managing my own psychology and … Read More

In this interview with Investing With Tom, Guy Spier discusses the power of doing nothing. Here’s an excerpt from the interview: Spier: Any case I couldn’t think of anything else, and eventually the pressure came too great for me and I sold the shares at two dollars a share, and … Read More

During his recent interview with Julia La Roche, Guy Spier explained how Warren Buffett’s instincts keep him out of trouble. Here’s an excerpt from the interview: Spier: It was a question at this year’s Berkshire meeting where somebody asked, apparently Berkshire Hathaway got to owning about four or five billion … Read More

During his recent interview with Richard Hsu, Guy Spier explains how Warren Buffett’s is constantly updating his investing models. Here’s an excerpt from the interview: Spier: Because there’s a lot of problems that go away when you have permanent capital. I think that the story of my investing career has … Read More

During his recent interview with Excess Returns, Guy Spier explained how investors can take out stupidity insurance to protect their portfolio. Here’s an excerpt from the interview: Spier: It’s trying to figure out how do I decide my circle of competence in such a way that I rule out those … Read More

During his recent interview on the RWH Podcast, Guy Spier discussed what Warren Buffett taught him about managing debt. Here’s an excerpt from the interview: Spier: The only reason why I might not have been caught up this time is that I did enough of those other things. And before … Read More