We Study Billionaires - The Investor’s Podcast Network - TIP730: Richer, Wiser, Happier, Q2 2025 w/ Stig Brodersen & William Green

Episode Date: June 15, 2025

On today’s show, Stig Brodersen talks with co-host William Green, the author of “Richer, Wiser, Happier.” In their quest for meaningful relationships and being the best version of themselves, they discuss what has made them Richer, Wiser, or Happier in the past quarter. You’re invited to join them on their journey. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 00:07:45 - Why you will waste years if you can’t waste hours 00:08:04 - The power of (not) structuring your day 00:13:53 - What you can clone from an optimal life design 00:59:46 - What William and Stig have read the last quarter that made them Richer, Wiser, and Happier 01:01:55 - How to have work-play integration rather than a work-life balance 01:03:55 - Why what is important starts and ends with quality 01:22:13 - Why the best things in life come from compounding Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join Clay and a select group of passionate value investors for a retreat in Big Sky, Montana. Learn more ⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠. Join the exclusive ⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Mastermind Community⁠⁠⁠⁠⁠⁠⁠⁠⁠ to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. William Green’s book Richer, Wiser, Happier – Read reviews of this book. Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2025. Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q4 2024 Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q3 2024. Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q1 2024. Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q3 2023. Stig Brodersen and William Green’s episode on being Richer, Wiser, and Happier, Q2 2023. Simon Singh’s book, Fermat's Last Theorem – Read reviews of this book. David Hawkins’ book, Letting Go – Read reviews of this book. Pico Iyer’s book, Aflame – Read reviews of this book. Tara Springett’s book, The Stairway to Heaven – Read reviews of this book. Robert Caro’s book, Working - Read reviews of this book. Robert Gottlieb’s documentary, Turn Every Page.  Check out all the books mentioned and discussed in our podcast episodes ⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy ad-free episodes when you subscribe to our ⁠⁠⁠⁠⁠⁠⁠⁠⁠Premium Feed⁠⁠⁠⁠⁠⁠⁠⁠⁠. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, ⁠⁠⁠⁠⁠⁠⁠⁠⁠The Intrinsic Value Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠. Check out our ⁠⁠⁠⁠⁠⁠⁠⁠⁠We Study Billionaires Starter Packs⁠⁠⁠⁠⁠⁠⁠⁠⁠. Follow our official social media accounts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠X (Twitter)⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠LinkedIn⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠TikTok⁠⁠⁠⁠⁠⁠⁠⁠⁠. Browse through all our episodes (complete with transcripts) ⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠⁠⁠⁠⁠. Try our tool for picking stock winners and managing our portfolios: ⁠⁠⁠⁠⁠⁠⁠⁠⁠TIP Finance Tool⁠⁠⁠⁠⁠⁠⁠⁠⁠. Enjoy exclusive perks from our ⁠⁠⁠⁠⁠⁠⁠⁠⁠favorite Apps and Services⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn how to better start, manage, and grow your business with the ⁠⁠⁠⁠⁠⁠⁠⁠⁠best business podcasts⁠⁠⁠⁠⁠⁠⁠⁠⁠. SPONSORS Support our free podcast by supporting our sponsors: • SimpleMining • Hardblock • AnchorWatch • Unchained • Vanta • Human Rights Foundation • Fundrise • reMarkable • Onramp • Netsuite • Shopify HELP US OUT! Help us reach new listeners by leaving us a ⁠⁠⁠⁠⁠⁠⁠⁠⁠rating and review⁠⁠⁠⁠⁠⁠⁠⁠⁠ on ⁠⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠⁠! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

You're listening to TIP. Every quarter, William and I discuss what has made us richer, wiser, and happier. In this episode, we talk about life designs. As you can tell, William and I approach our lives very differently, and the intention is not to tell anyone what to do. Rather, we intend to bring you along on our journey to explore how to live a life that's aligned with your values, so you can be the best version of yourself.

We discussed this seemingly paradoxical idea that the opposite of a virtue is also a virtue, because you want to say no to almost everything to focus on what's important to you. But on the other hand, you don't always know what's important before you're in the middle of it, so you also want to say yes to the unknown to let serendivity happen. In the second part of the conversation, we dive into our favorite books, ranging from the titans of literature to mathematical theorems and everything else in between. Thank you for joining William and me in our quest for quality and meaningful relationships.

Since 2014 and through more than 180 million downloads, we've studied the financial markets and read the books that influence self-made billionaires the most. We keep you informed and prepared for the unexpected. Now for your hosts, Stake Broderson and William Green. Welcome to The Investors' podcast. I'm your host, Dick Broderson, and as always, for these rich or wiser, happier conversations, I'm joined by my co-host William. How are you today? I am very well, very happy to see you.

Thank you for having me on again, making this happen. You bet. It's always a lot of fun to chat with you. And the first topic here of today is live design. And I, oh, yeah, it's, so what was that sound? It's a sound that says, like, we're about to do something. I don't even know if you could cover in a podcast episode. And not even that.

Life design is one of the three topics I want to discuss. today, William. So I don't know. It might be a 10-hour podcast. Let's hope it won't be, but it's a big topic. How do you feel about talking about life design? I'm always delighted to talk about life design. One of the things that comes through to me from thinking about this is the sense of challenge of how stunted I am in this area. So it'll be interesting. This will help me to think it through as well, rather than set myself up as some sort of wise expert on this subject. will probably just be exposing my lack of design. The intention is really to talk about designing a life that's true to your values,

but sounds like an incredible ambitious project, of course. And I think partly it comes from a positive angle, you know, basically living a good life. It probably also comes from sort of like avoiding negativity. You know, I kind of feel I've learned the hard way that you can get that type of anxiety whenever you're doing something where you're not aligned with your values. You know, perhaps your boss is asking you to do things you don't want to do. Perhaps you have a friend who is asking you to be in a place you don't want to be mentally or physically or whatever it could be.

And, you know, some years ago, it might have been five years ago. I don't remember. I was reading this book about designing the optimal life. And I don't even remember the author or the name of the book, which is absolutely terrible. But what I remember the most is an Amazon review, I read of the book, and it said something along the lines of, this is another ridiculous book about designing a life where everything is possible, and it's not applicable for the rest of us having a normal life. It said something along the signs like, hey, I have kids and a job and a mortgage. And, you know, this author was like a very famous,

wealthy author that could basically do whatever he wanted to do. And so, you know, the point was, perhaps those life-liveness just isn't applicable for the rest of us. So anyways, I think I wanted to make that as a claimer because I wanted to talk about this idea of life design. And I think we make all these kind of assumptions about how to live a good life. Then what is a good life for one person isn't necessarily a good life for another person. And then, you know, William, you and I might talk about, I don't, not that we plan to, but we could say, you know, go to Omaha and meet up with kindred spirits, which I think

by the way, is a wonderful piece of advice, but again, not everyone has the means or the time just to do that. So, you know, please take it with a grain of salt, you know, with, I can't speak for William. Please, whenever I'm sort of like saying, hey, this is kind of like how I want to decide my life, you know, please look at that through the filter, which is we all have different values, we all have different ideas of what a good and a bad life is. And some probably see it very, very differently. So I wasn't really sure how to talk about how to design a good life. What I typically do in situations like that is I would start to invert. So what is a bad life? And so this was something I started implementing some years

ago. And again, all my own kind of biases and running my company from home and all that good stuff. But I generally only have calls with other people between 2 and 5 p.m. And so, before 2 p.m., I want to do deep work. And after 5 p.m., I often still work, but I just don't want to have calls. It's just not sustainable with the way I live my family life. And I had some incredible interesting people who are on the West Coast in the States. So I'm in Denmark, which is nine hours ahead. So I say no to some incredible interesting conversations, because it's just after 5 p.m. and generally just don't want that. And it might seem like I'm but that is not how I see it. My wife, who is much wiser than me, she keeps telling me that discipline is a freedom. And I tend to agree with her. It's not a no to wonderful people whenever you're as rigid as I am. It's really a yes to family, friends and health. And I want to be a good version of myself. And sometimes being a good version of myself is more a question of not being a bad version of me. So I have a bit more to this framework, but I kind of feel like

I'm in babbling here going into this episode and I'd just welcome you and then I stole the mic. I'm happy to delve more into what you do first because it's interesting and I remember you had said to me that you, you know, you have like this perfect number of weekly calls and like a perfect number of what you call family allowed days or something like that and like a sort of 763 framework or 736. Like can you explain a little like what those things are because you've obviously put a lot of intention and thought into this, but also if you could give a sense of what the origin is of those ideas. How did you come up with that sense of a framework that you were going to, that you were going to impose on your life so that you'd have some structure?

Yeah, good point. Yeah. So I called it the 736 framework and I've called it for, I called that for a week because it's a week ago since I sent you the outline. I actually did. didn't know, I called it that, but that is the way that my life has worked for quite some time. And so it's this idea that the first seven hours of the day, and I can be very granular of what happens within those seven hours. I don't know if that's interesting for everyone. I genuinely don't speak with anyone that's not my wife through those seven hours. And then the next three hours, that's the three hours I have available for calls. And then I have six hours afterwards with his friends and family time.

And then I would also put in a bit of work there. And so, you know, they say, that strategy is sort of like is a way, because you use the word imposed with absolutely love, like you impose things because otherwise things just sort of like takes off on its own. And so I impose different things on my life and then sometimes my life impose different things on me. And so if I don't have time to do deep work, I won't be able to run a company, for example. And so a mutual friend of ours, if one said to me with absolute love, he said that if I cannot waste hours, I would waste years. And I kind of like, so I waste a lot of hours in those first seven hours, which probably sounds completely ridiculous. So one of the things I do is that I would always

go for a walk at around 11 a.m. And that is usually where I waste the most time, but it's also where I get the best ideas. So it's sort of like a kind of like a bipolar time. And I would walk by myself and I would just, you know, I would typically think about a certain problem I want to have salt or sometimes I would just like let my mind wander and then sometimes something good would come up and very often nothing and that's okay too that's that's part of the process so that's interesting it sounds pretty structured but actually there's a fair there's much more looseness and flow within it and lightness of spirit and empty space within it than actually you make it sound when you first talk about how structured your life is yeah it's sort of like a

it's a very structured way of not having things planned. If I can put it like that. Because the other thing is also that, you know, I remember, you know, reading about Buffett, like so many listening to this podcast. And he talks about having an open calendar. And I thought to myself, wow, you know, let me do what Buffett is doing. That sounds great. And so I tried structuring a day where I, for example, didn't have any meanings at all.

If I have more than one of those days, I go absolutely nuts. And I wish I could be like, oh, I'll be doing the same thing as Buffett. I'm not cool. Like, I cannot have a day. Again, he probably speaks with different people. I don't know. I don't know what he's actually doing. But like, I love meeting with interesting people and having interesting conversations.

If I don't speak with anyone from Monday to Friday, you know, I have this golden rule, which is I want to have five to eight calls a week. If I had zero calls, like, this is going to sound terrible, but doing business is just so much fun. And so if I don't have those five to eight calls a week, I don't have those five to eight calls a week. eight calls, I would be frustrated. But then if I have more than eight calls, I would also be too stressed. And so it probably sounds rigid. And then, you know, I have, now I've become a bit more grand. I have 26 family approved days annually where I can allocate time to chat after 5 p.m. One of those days are today. And so, you know, we try to make our schedules work out. And so we typically

talk 10 Eastern, which is 4 p.m. here. So that's wonderful. I can do that. 26 days a year. And again, disciplines by freedom, it probably sounds extremely constrained. But for me, it gives me a lot of freedom. And so I already, I have different things planned. I already know to a large extent how I'm going to allocate those 26 days for 2026, which probably sounds absolutely ridiculous. And who approved those days? Is that you and your wife, Sophie, or is it, I don't know, where does the approval come from? Yeah, so I call it family. I call it family approved, I've never spoken to my wife about, let's do 26. That's actually my, my sort of like my own rule. And this is something I'm sort of like imposing on myself.

It's not something that comes from my wife. I feel like I can have one late meeting every other week. That works perfect for me. So that's where the 26 comes from. You'll be glad to know, it's a very holy number. Oh, okay. It's a sacred number. Yeah, it's, you know, because in Hebrew, different letters have different numerical value. So the most, you know, it's a number. most powerful name of God has a numerical value of 26. So you see, you claim not to be spiritual. You're quietly, quietly channeling all this stuff subconsciously, I think. This brings up so many things what you're saying. I mean, I think when you had described the structure of your design of your ideal life before, it seemed to me, it sounded like really quite rigid. And actually,

when you talk about it now, it's interesting because it seems like there's actually a lot of freedom built into it. And so I'm assuming, I mean, you talked about inversion before and how you figured out the way to do this by really screwing it up and feeling when you're out of whack. I assume when you get way out of alignment with this general plan, you start to feel really anxious. You start to feel a little out of control. So in a way, this design, it's not so much designed to maximize productivity, it seems, and to be like I'm going to become a master of the universe. It seems like in a way, I mean, there's obviously a part of that. Am I right in thinking there's also just an aspect of emotional and mental well-being that comes from this design?

Yeah, I think you're right. And it's about coming into this virtual cycle. Like, if I have too few meetings or too many meetings, I don't feel I'm a good husband. And if I'm not a good husband, I'm also not a good son, I'm not a good brother, I'm not a good CEO of the company, and so on and so forth. So I know there are many other things to my life than just a number of meetings. I chose that in an example because I kind of felt it was somewhat relatable. But I would do the same thing in terms of how many steps I would walk, for example. And so I've calibrated according to when I feel I'm the best version of myself. I know this might sound a bit silly to some.

I have this gold number around 17,000 to 18,000 steps. every day. And I can deviate from day to day, but generally, if I walk significantly more than that, you know, I was going, doing for like a walk and talk here the other day and went for a run. And it was just, it was way too much. And I clocked in more than 30,000 steps. And I just, I felt like I was just a bad version of myself. But then I had all the days where I would not clog in a lot of steps. And I would also be a bad version of myself. So it's about like knowing, not how to be a good version of myself, but how to avoid being a bad version of myself. So based on your experiment in designing a life that works for you, what advice would you give

to me or any of our listeners on how you actually, how you go through this process and design a framework, a structure that kind of works for who we are? What have you learned from this that's actually clonable? Yeah, I think it's a question of what you want to say yes to and start with your yeses, and then the noes would be a bit more of a given. And I make that sound easier than what it is. So let me provide a few examples. I tend to think about my life very much as a stock portfolio. It sounds so absolutely boring and terrible, but I think very much an opportunity to cost.

And I also have this entrepreneurial and mindset where there is a new shiny item and sounds absolutely wonderful. I don't know this. That's very clonable, but what I want to talk about here is if I say yes to this, what am I then saying no to? And I was going back to this point before where I had 26 family-approved days. If I said yes to one, what would I then have to say no to? And so I would then think about what things in my calendar are absolutely yeses, which one of them are my negotiables, or which one are not? at all. And so I would have, for example, my five to eight calls. Like, that's sort of like, that's where I start and how many steps I put in and how much, how many hours I can waste. That's

sort of like, and then I work the rest around that. And I don't know sort of like where that puts people. You know, one thing I used to do 10 years ago, which I for different reasons don't do now, is I started every day by reading an hour. And that could be a non-negotiable. And a lot of people have done that with success. I think Tadamongar is one of them. Start one of your days or all your days by giving the most valuable hour to yourself. And so this is not my way of saying five to eight calls should be your golden rule or so and so many steps. And perhaps you don't live in a place or don't have time or whatever.

But like what is really important to you and then you work down? I think that's probably where I've come from in terms of being clonable. Yeah, there's so much there. Thanks for breaking that down. It'll shock you to know that my strategy or my non-strategy for designing my life is much more based on feel, an improvisation, an intuition, and kind of openness. And in some ways, it may be that this is just an excuse for disorder and chaos and disorganization and lack of linearity. I don't know. So I'm not in any way saying that my approach is good or, or, better for sure because obviously, you know, we come at things very differently always. And I think my approach feels kind of chaotic and disorganized often. And I'm slightly embarrassed and self-conscious to talk about it, you know, because I think I feel some sense of shame about it. Because, you know, when you hear people talk about their sort of life hacking and all of that, there's a

sense of like, oh my God, they're sort of optimized in this amazing way to be incredibly productive. and I feel like my approach is much more about being open to letting things unfold. I have a few consistent habits and I have a few consistent guiding principles, but even those, I kind of forget them pretty often. So, I mean, most days I try to do some sort of what I would call a morning connection, some sort of spiritual connection where I, you know, do certain prayers and stuff. and it sounds kind of like I don't mean to sound sort of holier than now or anything like that because I'm really not. But it's some attempt to get my head in a particular space where it's like it reminds me.

There's something about prayer or affirmations or anything like this that the repetition is very powerful because you keep putting your intention back in a certain direction. And I try also to do some meditation in the morning. And I try to do some reading in the morning usually of something. more spiritual and interesting and philosophical to me than temporary and ephemeral and newsy. And then this morning, all of those things went out of the window. And, you know, I was preparing for our conversation and thinking about things that I want to talk about. And then at a certain point, it's like, I didn't really have time to meditate

and I didn't really have time to do my morning connection. And then I start thinking, well, if I prepare properly for this conversation, then in a sense that replaces the morning connection and the reading and the meditation because the conversation itself, you know, you're trying to share ideas that you're working through and thinking about and that could hopefully be helpful to other people. So it's like there's a concept in the Zohar that I often talk about with you, the Zohar, not this concept, where someone at one point says, well, one precept replaces another precept. So these guys, they miss doing their morning prayer because they were, they were collecting money for, you know, a woman who didn't have a dowry and was getting, was getting married.

And so they said, well, it's okay. You know, this, this boy who's a sort of prodigy smells that they haven't done their morning prayer. And they explain why. And he's like, oh, okay. And so, I don't know. So this morning is a pretty good example where I've immediately lost track of my routines that I try to stick to every day. But I think, you know, I have to kind of flow with it a bit because every day is a little different and things change. Things don't go to plan. So I don't know, I'm very unrigid about it. I'm very unstructured, but I do come back to certain things very consistently. So most days I'll do meditation. I feel like I'm almost constantly reading all of the time. So there's a sort of constant forward motion of learning and also drinking coffee.

So there are a few consistent things. Otherwise, there's not much consistency. There's more a kind of generalized sense of forward pressure of intensity of always wanting to do stuff. So I'm not, I do waste plenty of time. But even when I'm wasting time kind of watching TV with my wife in the evening. It's not really wasting time because it's like we're hanging out and it's like I've spent the whole day kind of thinking and filling my head with ideas and learning and sort of wrestling with ideas. And it may be actually that I need some kind of rest from thinking and that tuning out by watching something that's kind of good and kind of interesting and by being with my wife is like a necessary form of medicine. So I don't know. One of the things that

that I was thinking about yesterday, as I was, I was just thinking about this whole issue of how to design a life and how we approach these things with very different mindsets, right? Yours very, very intentional, very numbers oriented, and mine much more, much more free-flowing, much more intuitive, much more chaotic, much, much less strictly organized. I went back to this article that I remembered from many, many years ago that I'd read in the Yorker that I've referred to a lot. I often think about it, but I hadn't re-read it for probably a few months. And it's called Twin Peaks. And it's by a very good New Yorker writer called Burkart Bilger. And it came out in 2004, and it's about these two ski champions, Herman Mayer and Bode Miller.

And I don't know much about skiing. I mean, I was a modestly awful skier in my youth. And then I kind of stopped because my wife didn't like skiing, because I haven't really been much for a long time. But metaphorically, it's really interesting because this article explains basically how they ended up with the same times, more or less. I mean, like a split second different, if I remember rightly. And they were both champions, but their approaches were totally diametrically opposite. So Mayo was described as this kind of slightly robotic conversationalist and a guy who, you know,

had this textbook style of skiing and really regimented workouts and a perfect textbook technique. And he used all this amazing technology, right, that now would probably seem ancient. But then in 2004 was unbelievably sophisticated. So he had all of these sort of magnetic pulses going into his body. And he slept in some pod that was apparently made of quartz and I think had been designed for cosmonauts, you know, in the Russian space program and was based on Chinese meridians and all of the like. And they would do daily blood tests on him. And so he was known as the Herminator, right, because he was Herman Mayer, but like the Terminator. And he said at one point,

I wanted to be like a machine. So on, you know, on one hand, you have this guy who's the perfect embodiment of practicality, technique, 10 hours a day of training and being in, you know, whatever hyperbaric chambers or whatever it would be, you know. And then, Bode Miller comes at exactly the same times with totally the opposite approach, right? So he's the son of hippies, he's really kind of gawky and growing up he was always sort of impossibly late for races or training and he would lean back like a water skier and you'd often like forget to plant his pole and he went too fast and he's always crashing and but he had this amazing footwork that came partly from the fact that he wasn't just skiing the whole time, right? Like he played

tennis really well. I think his parents had a tennis camp and he played. He played, played soccer really seriously. And he literally, he would ride a unicycle and would do tightrope walking and log rolling, like sort of standing on logs and would go fly fishing and the like. So he had this incredible balance. So someone said it was literally like throwing a cat onto an icy driveway because he just would always land on his feet. And so he's kind of this wild man skiing with total abandon, totally pure and unencumbered. And there's a beautiful description in the article from some former ski racer who became a writer who was talking about what they were like before the race and the few seconds before the race. And he said, Herman is like a bull in the gate

at a rodeo. And he said he works himself into this animal state. He's ferocious. He thrashes around until strands of spit are coming out of his mouth. And then he describes Bodie Miller and he says, he just stands there looking out across the valley. He looks stoned. He doesn't even plant his poles on the other side of the line until the last second. And then he just sort of tips over. And towards the end of the article, Bodie says, you know, I'm just trying to have a happy life. And being happy seems to help me perform at my peak. And so it's a really beautiful reminder to me in a way of the thing we've talked about when we talked about Annie Duke, right?

This idea that the opposite of a virtue is also a virtue. And so I think you can build a really successful life with either extreme, right? like the sort of hominator kind of discipline or the Bodie Miller kind of, you know, I'm going to go ride a unicycle now and maybe stand on a log and maybe they'll end up helping me be more adaptable. And then you also have the kind of the Buddhist idea of the golden mean, right? You know, that also comes up, you know, the middle path that also comes up in all of these other spiritual practices, right? Aristotle talking about the golden mean, always some So you can either be super extreme on one side, super extreme on the other, or have some kind of golden mean.

And they all work. And so I think in some way, really it's about finding the approach that works for you, but also having the flexibility to know that on different days it's going to be different. I mean, you know, I've been kind of out of control the last few weeks because I went to London for a work trip and saw family and the like. And then I went to Omaha for the Berkshathaway meeting. And it's just been kind of a maelstrom. And so I don't have a lot of peace of mind and structure at the moment. And it's not good. It doesn't feel good.

It's like I'm out of whack. I'm misaligned. So I think always it comes down to these questions. Like you were asking before about what matters most to you, what are you really optimizing for? Also, what are you best at? and then being somewhat ruthless in removing the other things. And I was struck, I think, when I was thinking about how the best investors have dealt with this, at least two investors that I know of.

So this would be Christopher, Christopher Sy and Chris Begg, who've both been great guests on the podcast, were very much influenced, I think, by Peter Kaufman's idea of the seven the seven steps of the ladder where Kaufman, who, as a lot of our readers will know, was very, very close to Charlie Munger. And he's a kind of silent sort of intellectual giant within the investing world because he doesn't really talk publicly, but he'll meet people privately. So, you know, I interviewed him for Rich or Wiser Happier for the book, but, you know, I couldn't attribute anything to him by name. And so he's this sort of intellectual giant who's provided a lot of clarity for a lot of investors. And so he talked about this seven-step ladder that he

described as, I guess, co-priorities for a balanced and harmonious life. So it's not like one is the most important. You have to invest in all of them and somehow integrate them all instead of focusing sequentially on one area at a time. And so, as I recall, he basically brings it down to health, which Chris Begg kind of in his own way described as total wellness. So there's health, there's family, there's career, your professional life, there's friends, there's spirituality, there's community, and there's hobbits. And Christopher Seid did the same thing, right? He took these ideas, but then he said to me, look, the seven steps are pretty much in this

order with health at the beginning and then family, friends, career, community, spirituality, and hobbies because he said, well, the most important is health because it's multiplicative. And he said, if you take health and you multiply it by zero, everything else goes to zero, which is not good. So you want to focus on that first and foremost. But he said, I really try to hit these seven pieces of the ladder as best as I can. And so what Christopher Sai said is, I think that only two of the areas are places where I'm lacking. And he said, I'm lacking on the community side and on the spirituality royalty side. And so he said, over time, I think these are the two steps of the latter that I really want to work on. So I think that's really interesting, right? Just the ability to clone people like

Peter Kaufman, who are very systematically minded and have thought about this, because then you can start to say, okay, so where am I out of whack? So I can do this kind of diagnosis of my own life, and I can say, okay, well, so what would be the things that are most important to me? Clearly family, clearly friends, clearly my spiritual life, which in its own right is kind of a little bit messy and mixed because I study a lot of Kabbalah, which is this ancient spiritual wisdom, but I also study a tremendous amount of Tibetan Buddhism, and then I'm always looking at other areas of study. So even within that, it's like, it's not that simple. It's like kind of complex and always spiraling out of control a bit. But that's a really, really important part of my life.

there's some kind of weird yearning to kind of elevate and become a better person and also a terrible sense most of the time that I'm utterly failing and falling short. But that's a key bucket for me. And then there's the whole thing of physical, mental and emotional well-being, right? So what Chris Begg calls total wellness, which is important. And I'm much better at the mental and emotional well-being part than I am at the physical part. So I definitely am feeling bad about neglecting the physical part. And then the other thing, and this is not in any particular order, I think it's become increasingly clear to me that what I will want to do in life is basically be learning and sharing ideas. So I do that through writing books or hosting the podcast or

hosting the masterclass or doing speeches or being an advisor to an investment firm or a board member of another investment firm. So basically it's me kind of trying to help other people by sharing ideas and at the same time nurturing my own passion for learning. So I think I have a pretty good sense of what the buckets are. And I think that's key. So I think for our listeners, just to be aware that there are these people who are more systematic than I am who've been like, look, break it into seven and you have these areas and then figure out your priorities and then structure your life around that. And then I think it's very instructive to look at great investors, like a Bill Miller or a Buffett, say.

So Bill Miller basically made it pretty clear to me that, you know, he spends an enormous amount of time reading, investing and learning. He's not going to do things like pumping gas or decorating his houses or stuff. Like, he's just not. Like, so he had really simplified his life massively around the things that are most important to him. He has a lovely wife. So, you know, a lot of great kids, a lot of time with family.

and also a lot of time with things like collecting, you know, where he collects amazing books and the like. Buffett, I was very struck last year at the AGM in Omaha where he was talking about him and Charlie. And he said, we always lived in a way where we were happy with what we were doing every day. He said, Charlie liked learning. He was interested in more things than I was. I was narrower. What I like is having more problems to solve. And he said he lived his life the way he wanted to and got to say,

what he wanted to say. So, you know, they were very clear about what they, how they wanted to live. And you would see it with Charlie, right? Charlie saying that the reason we made the money was basically so we wouldn't be subordinate to anyone so we could live the way we liked. And so he, you know, think of the amount of time he spent fishing, playing bridge, reading voraciously. And then I loved the fact that Christopher's eye said to me at one point that Charlie actually really liked watching law and order reruns. And that kind of made me happy to realize, oh, I don't need to feel guilty about, you know, watching some TV, even the great Charlie Munger watch law and order reruns kind of binge watching. And my brother, who's a very successful barrister, litigator, Kings

Council in England, was talking to me about a friend of his, who's this absolutely legendary law lord, like a very brilliant guy. And I think he would watch, is it Boston Legal? The, you know, So here's this guy who's one of the most famous judges and human rights lawyers in the world. And he's watching like Boston Legal on TV in his downtime. So I find that kind of comforting. Everyone's wasting a little bit of time, I think. Or we're inhuman. And then I think it was Derte, who had been Charlie's assistant for decades, 30-something years, if I remember rightly.

She talked about how basically, I think it was her who said this, that basically, Charlie would just eat chicken salad. every day from California Pizza Kitchen. And in the past he'd eaten McDonald's, and at a sudden point, he discovered that California pizza kitchen was better. And so we'd just get the same chicken salad from there every day. And then Monish said to me that he was basically allowed peanut brittle twice a month. So there was a sort of order and calm to it. So I don't know.

I think within what we've discussed, you get a sense of what's worked for people, right? like the range of things where you need to be investing time and energy and how to be aware of when it's getting out of whack, right? So think of Chris Davis when he came on the podcast and was talking about, you know, looking at his next 10,000 days and inverting and saying, what would stand in the way of these being a really enriching time of life? And he said, he said, look, health is clearly really important. If I don't take care of myself, I'm going to be, you know, that's a really good way of reckoning. next 10,000 days. And similarly, I got to invest in relationships because if I don't maintain

and invigorate my relationships and get to know my kids' partners and stuff like that, my life's not going to be great either. So I hope that gives people a few ideas for how to go about this, that go well beyond me saying how to go about it. Because I think it's pretty clear my approach is not optimal. Let's take a quick break and hear from today's sponsors. All right, I want you guys to imagine spending three days in Oslo at the height of the summer. You've got long days of daylight, incredible food, floating saunas on the Oslo Fjord, and every conversation you have is with people who are actually shaping the future. That's what the Oslo Freedom Forum is. From June 1st through the 3rd, 2026, the Oslo Freedom Forum is entering its 18th year bringing together activists,

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slash WSB. That's Shopify. dot com slash WSB. All right. Back to the show. I don't know if that's true, though, William.

I think going back to what you said, like we all have different, the most important thing is that we align with their own values and how we want to do things. And, you know, I've heard a lot of people talk about how Buffett lived a terrible life. And going to your point before, and again, Buffett has

his own ups and downs and no one is home free, right? We all have that. It's just called life. I think by and a lot, Buffett has very much lived according to his values. And so it's probably easy to us to say, oh, you know, he worked really, really hard and he didn't spend as much time with his kids. And that's a failed life. Or I've heard many different versions of that story. And I, this is not my way of saying you shouldn't spend time with your kids. I guess this is my way of saying in many ways I think that we put our own values on what is right for other people. Someone who's born in 1930 and absolutely love his job, it doesn't sound nice, but perhaps

you know, Buffett comes out and he's like, he kind of lived by his inner scorecard. Now, you might not agree with those, but I don't know. perhaps Buffett beats himself up every day about not being more present when his kids growing up. I don't think he does. I think he would say today that he lived a good life, made mistakes like the rest of us. And so you prioritize things and then the rest sort of like have to work out. And so I know that, for example, you, William, you talked about that you have a certain group of friends that you say yes to every Friday at a certain time. And so whenever you do that, you also say no to other things.

Yeah, and actually, stick, that's a really good example, right? So I have these three friends that I meet on Zoom every Friday. And even on the morning before the Birxhathaway AGM, I had breakfast really early, went into the lobby, and I was interviewing Chris Begg at ValueXBRK, the event that Guy Spear host at 1030. and I still got on to my call with my friends. And then, you know, we have this extraordinary teacher in Nepal who calls in sometimes on a Friday. And so she called.

And so I'm sitting there with my friends and also Dan Goldman, who's part of the group when our teacher calls and his lovely wife as well, Tara, who's also a psychologist and author. And so I'm sitting there in the lobby with my friends sort of walking through the lobby, having to stand up and kind of say hi to people as they come in. But I'm basically live streaming a conversation from Kathmandu with this amazing teacher right before I go do my interview with Chris Begg on stage. And so that's really important. And I try to stick with it and make it a consistent thing.

But then last Friday, my wife suddenly said to me, I forgot to tell you, I'm going to the doctor. And you need to wait for me and drive me home. And then she gets the address wrong because she's sort of, you know, she's, dealing with too many things and so we go to the wrong place and we try, you know, so I miss my meeting and then I discovered that our teacher has called in and given this amazing teaching. And I felt kind of crestfallen. And, you know, like this sadness that I missed this conversation with my friends and also this sadness. I miss this unbelievable teaching from our teacher. And then at the same time, I'm sort of aware that I have to be there for my wife.

And, you know, she wouldn't hesitate to be there for me always. I mean, she's incredibly kind and sharing. And so I'm having to be flexible enough to say, okay, things aren't going the way that I want them to go. Here I am, driving through rush hour traffic to the wrong place because we have the wrong city that the doctor's office is in. And it's really frustrating and nothing's going to plan. But I'm like, maybe that is what I need right now. Like maybe actually this is a, opportunity for me to work on my patience, my kindness and my generosity because I'm feeling kind of irritated and I'm feeling kind of crestfallen that I'm not having this conversation with the teacher and what am I missing? And so I think I have a sense increasingly that's totally, it's not empirically based, but it feels real to me and increasingly real, which is the life is just unfolding in this somewhat dreamlike way. And it's my. much more like freestyle skiing, what I'm doing. I'm just trying to adapt in every moment to what that situation requires. And so there's some sense of surrender to the unfolding

of what's happening. So there was the structure of wanting to do a particular thing on the Friday morning. And there was the recognition that I had to let go of it and trying to be deeply present in that moment so that I could sense what was called for in that. that moment. And so there is something kind of mystical here, right? The sense that you're being, you're being guided rather than being in control and you're having to adapt rather than impose your own will on everything. And there's a sense, you know, Tony Robbins would always say how life happens for you, not to you. And whether that's true or not, adapting in that moment when I'm sitting in rush hour traffic going to the wrong place and being like, it's okay. It's okay.

And like, this is fine. This is where I'm supposed to be. That's good. And there was a, you know, it's very helpful to me. And there was a really beautiful teaching that I heard recently that's had a very profound effect on me that I'll share with you where I have this really wonderful teacher, Michael Burke, who I've had on the podcast before, who's a great capitalist. And he's a, for me, he's a really wonderful role model in the same way that these great

Tibetan Buddhist teachers, like Sokney Rimshay, who I had on the podcast was, and also Kandrela, this other teacher that I have who just is unbelievable, who I missed on Friday. And someone was telling me a story about Michael Berg. And I said to this guy, do you think Michael's always happy? And he said, yeah, yeah, basically all the time. Like you never really see his consciousness last, just happy the whole time. And he said, yeah, I saw this really interesting thing where someone dropped something and it smashed. And everyone was looking over at this thing as it dropped because it was, you know, it was like this really loud noise and it was kind of shocking. And he said, and I happened to look at Michael at that moment. And I realized Michael was just whispering very quietly to himself, it's perfect.

And that's had a big impact on me in the last few weeks because I think what he's basically doing is saying, as he would put it, everything that happens is for my benefit. There's nothing that happens that isn't for my benefit. And so a lot of my anger and irritation in life is when things don't go the way I expect them to. It's like, but wait, I wanted to do my morning connection, but wait, I wanted to meditate, but wait, I want to, you know. And it's like, then life doesn't go that way. And often there are things that I really feel are good for me and good for other people. And I did them with the best intentions and then it still didn't work out or it went horribly wrong or, you know, and I think part of what I'm trying to work towards is a sense of fluidity where anything that happens, is good. And there is a spiritual component to this of, you know, Michael Berg would say, everything is just the light of the creator. Like, there's nothing. It's everything that's happening to you. There was a really interesting moment on Rosh Hashanah, the Jewish New Year, where I, in some ridiculous, conflicted English way, I stayed at the Yale Club, the night before. It's like the most

waspy thing to do on the night before Rosh Hashanah, so I could be in New York City. And so I go there. And in the morning, you know, I'm vegetarian and I don't eat, you know, I doubly don't eat pork as a chew. And it's Rosh Hashanah. It's like this really holy day. And so I order a vegetable omelet and they bring me an omelette and I dig into it. And I realize it's got ham in it. And so I'm really upset, right? And I'm like, what the hell?

And I said to Michael Berg later, so was the ham that I had to eat on Rosh Hashanah while I'm trying to like purify it and stuff? Was that from the creator too? And he's like, yep, that too, the ham as well, all from the light. And so whatever one makes of that as a sort of spiritual claim and some people will roll their eyes and I would have rolled my eyes at this for a lot of my life. I think it's a very powerful way to live your life where you're like, everything is kind of divine, everything is kind of transcendent. If you regard it that way and it's all there for your benefit, we're learning from the bad experiences, the difficult ones, the challenge is when it doesn't go our way, when your schedule goes out of whack, when

you miss your flight, whatever. And so I feel like we're groping our way through the fog and we're trying to live in a way that works for us. And so we create these structures and design these lives in the hope that it won't spin out of control and that we won't fall off the axis in some way. But I think there has to also be this kind of lightness of spirit. it's a bit like, you know, that whole idea of, you know, strong beliefs loosely held, or if I'm quoting it vaguely correctly, you know, it's like you want the structure,

you want the organization, and you want the design, and yet in a moment you want to be able to let go of it, because otherwise you're going to be fighting this sense of anger and frustration because the world and life are just constantly defying our expectations. And for me, that's actually one of the biggest things that I have to work on in life is my frustration at things not working out the way I want them to, even though I come in with the best intentions, and then I screw up and it doesn't work out, and I fail and I do the wrong thing, and I upset someone, and I, you know, and I want to be super productive and then I fail to be. And, you know, so it may be that the thing I'm getting the opportunity to work on is that, is that sense of patience or the

sense of self flagellation or whatever that comes up when I fail and fall short or, you know, so I don't really know that being as productive as possible or as famous as possible or building my brand as much possible. I just don't think those are the things that I'm really focused on ultimately. So I also have to adapt my sense of what I'm optimizing for and what I'm designing my life for so that I can be aware that maybe that moment where I don't have my Friday meeting with my friends, even though I know that it's really nourishing and helpful on so many ways, that maybe not having it is precisely the most helpful thing for me at that moment because I'm with my wife instead, dealing with my own frustration and impatience and irritability. Does any of that make sense?

Yeah, I think, and this might come across the wrong way, because I wonder if you actually think the same way. Because I was about to say, I think it makes sense for you. But whenever I say that, it sounds so terrible in my own head that was like, no, no, no, that's what I should. Because I think that there is an irony, and it sounds like, and please correct me, if I'm wrong, it sounds like I am, I'm coming from a place where I am extremely intentional about everything, but I do think everything is random.

Whereas you come from this, everything is chaos, but it's almost designed chaos. So perhaps we actually mean the same thing. We just commented from two different angles. Yeah. And I think anyway, our consciousness creates our reality. So if you just think it's all random and it's chaotic and it's hellish and it's all falling apart, then you find evidence for that. And if you go through it thinking it's all unfolding in this strange and beautiful way

full of synchronicitors and coincidences and learning opportunities, even from the things that aren't going my way, you find a lot of evidence for that as well. And I find that I find my life much happier when I live it that way. And in the old days, I would have thought, well, that's kind of pure out just because you want to believe that it's a certain way, doesn't mean it's a certain way. But actually, I believe pretty strongly as strongly as I can believe anything, because I tend ways to see the opposite side as well. I believe pretty strongly that our consciousness is creating our reality. And so there's a tremendous, I mean, I remember once having this conversation with Ed Thorpe and I asked him, do you believe in God? And he said, no data. And I remember thinking,

that's a really smart answer. But actually, from a different perspective, it's an incredibly stupid answer, not to be critical of Ed because everything is data. For Michael Berg, or for Candler, who are kind of these very enlightened, very elevated people, everything they look at, every single thing is the light of the creator. So they're, well, I mean, Candler wouldn't put it in those terms, the Tibetan Buddhists because they don't really talk about the source of these things. But there's a sense that all of these appearances,

everything that's just arising, all of these phenomena, a divine, that they're all just, there's something kind of, I think when you're so awake as a great Buddhist practitioner, the world just is very vibrant. It's all lucid awareness, right? It's an awareness of light. And so they wouldn't say, oh, this is God because they don't like concepts, which, you know, knock us out of the experience and of limited usefulness. But I think the actual experience is the same experience that Michael Berg has, where it feels like you're just watching this sort of dazzling display of light. So from a certain perspective, Ed is totally wrong, and it's all data. So I don't know. I think to some extent that the pragmatic philosophers that Bill Miller loves had it right,

where they would say ideas are like forks and knives. You know, you pick them because they're useful to you. And for me, the idea that everything is a learning experience, that even these difficult moments that make me impatient or upset or irritable or angry or whatever, opportunities to work on those characteristics that I have. And so maybe actually it turns out to be a much more important and valuable moment or experience than having things go my way and feeling like, oh, I've got this beautiful schedule and everything works out and I've planned it all so well and I'm so peaceful and look at me. I've got so much peace of mind.

It's like, I can't delude myself into thinking I have. peace of mind. My mind's, you know, a hostile environment a lot of the time. And I have to live with that reality. And I think it's probably helpful for us to be honest about that because I think there was a period in the last decade where people kind of fell, including myself, people fell into this trap of becoming obsessed with the sort of the life hacking kind of views of, you know, the Tim Ferriss's and the Hubermans and the, you know, Josh Wateskins and the like. And these are all amazing people and amazing practitioners of things that make you better in life and more productive and the like. But I think it's very easy to start turning on yourself and then being like,

but these guys are so in control and they're so good and I'm terrible. And I feel that a little bit when I interview Chris Berg on the podcast. I can see, wow, he's got so much more balance that I have, you know. But it's like, you know, here I am after 35 years with the same lovely wife who still puts up with me and, you know, and somehow I've muddled my way through and written a bunch of books and, you know, hosted a podcast and edited a couple of magazines and stuff. So in my sort of, you know, I have two lovely kids who are only annoyed at me like about a third of the time. And so in some way it's kind of worked out while being completely imperfect and failing and, you know, messing up and stumbling a lot of the time. And so I think it's helpful for us

to have this understanding that people like Warren Buffett, you know, much as he's like this extraordinary figure has screwed up certain things. Charlie screwed up certain things. And they got better. And I think that's what we're trying to do. I felt this when I went to Omaha for this last AGM. And I've just recorded a podcast celebrating Warren. I haven't heard the results yet. We'll see how it turns out. But my sense towards the end of it, towards the end of the AGM, the Q&A session,

was O'Waron has really become like this remarkably elevated figure for all of his floors. Like he finally actually did become the sage of Omaha and he wasn't before. And it reminded me of this thing that this great Western mindfulness teacher, Joseph Goldstein, had said about Ram Dass, who was a famous spiritual figure who wrote those books like Be Here Now. And when Ram Dass was dying, Joseph Goldstein said to him, I've never met either of them, but Joseph Goldstein said that he told Ram Dass, you finally became what we always thought you were. And I feel like that's what's happened with Warren.

It's like he finally became what we always thought he was. Like he was actually a deeply flawed character who I think has kind of become the sage of Omaha. So that gives me hope as well. It's like we're not designing the optimal life so we can be perfectly productive and have the perfect six-pack and the perfect peaceful mind and the perfect family. It's like, no, we're a hot mess and we're confused and we screw up and things don't go to plan and yet we persevere. Wonderful, William.

I don't think I could say to any better myself. And it's, you know, I feel tempted to say, Seagin, you shall find. I know we're going to talk more about the book letting go in our third segment where we talk about books that we read. But it's sort of like, you know, I think a lot about confirmation bias. And I think I think more about it more than I do it well and avoid confirmation bias. Because I find it remarkable, especially in the first part of the book, how I thought that I might be reading a spiritual book. but I actually felt it was incredible non-spiritual and it confirmed the lack of spirituality in the universe, which is to be incredible ironic coming in from David Hawkins.

But then I could also see that if you came into the book with a different mindset, you would come up with a completely different conclusion. So I wanted to round this thing out. Well, actually, I actually had a two part about life design. We've gone through the first subpoint and then we went to do that. in all kinds of directions. And thank you for that, William. You know, one thing I just want to to mention, and I don't want to what to call this, but it's something that's been helpful to me. And I wonder if that's something I'll learn from you, William. I've learned a lot of

smart things from you. And you previously talked about how you, whenever you find a deep truth, it's sort of like, it's almost like a feeling in your body. That's the way I've heard you describe it. So I was on a call the other day and it was it was very, very unusual. It was a, it was a Saturday night at 7 p.m. and I never have called Saturday night at 7 p.m. It's probably the first Saturday and I called ahead in 10 years or something like that, but there were very specific reasons. That's when you schedule disco dancing. Exactly. That's where whenever I go discos do. So and it was it was sort of like it was it was a myriad of different things. It was something a good friend has set up and it might be about acquiring a company and on the west coast it was you know

10 in the morning and and so there are different reasons for that and i felt three to four days before i felt bad i felt bad about having that and i should say there's nothing wrong with the call but i felt i was so misaligned with my with my values it was almost like there was a shiver going through my body and it was like this is this is wrong it feels it feels it feels it feels wrong. And I don't know what I can assign that to other than having a call at 7 p.m. on a Saturday is just not the right thing for me. And so why am I telling that random story? I'm telling it for two different reasons. I'm talking about it from a live design perspective where I told about this very, very rigid 736 framework before. And whenever you decide to say yes

to certain things in life, whether it's this special call on Friday, thank you for sharing those stories, Williams. I've realized that whenever something is very much tied to identity, I am William, I have this call on Fridays, or I am sick, I never have calls after, and certainly never, like, there was something very powerful there. And very often, no one's perfect, no one can do it all the time, but you find a way where you can tie a beautiful bow around what you say yes to. And so after I realize that I want to live my life a certain way, for example, whenever I have calls, which is kind of tricky because it's mainly

a US-based company, even though I'm based in Denmark and so on. So there are different things with the time zones. But then you realized, okay, I need to create a culture in, in this case, TAP, that's so powerful and so full of trust that I don't speak to, I don't need slash get to speak to people on the team because there are only so many cultures

you want to have a certain period of time. And I realized that the other day, I was speaking with someone in the team, and I realized I'm going to come off I was the worst company leader that you ever heard of. I realized, because we're in a small company, like 20 people in the company, or full time, right?

So they're in their freelancers and so on and so forth, but like, it's a very small company. And we got to chat and I realized it was two and a half years ago since I last chat with her. And she's been doing a great job, like a wonderful job. But like,

there was this bond of trust where she would just, like, apparently I need to check in every two and a half years. But even when I do that, she's still, you know, even better than the last time I chatted with her. So my point. is that, I don't know when that's coming from, but it's almost like, perhaps that is what

you're talking about, William, but it's almost like, I can best describe it as an emotion you have in your body. Sometimes it's a negative emotion and it gives you certain directions. It can also be a positive emotion and it also gives you certain directions whenever you have that. Yeah, I talked about this with Chris Begg on the podcast where I interviewed him. He has a sense that I'll misquote him, but in a sense that truth is embodied, that it's an embodied experience that we feel it. I often feel it in my legs weirdly. Arnold Hannberg often feels it in his right arm, you know, where his right arm will start to tingling. It sounds kind of silly, but I think the brain and the body presumably evolved in ways that give a

signals very quickly about things that we don't necessarily have a chance to think about in depth and analyze. So I think part of it is tuning into that stuff and just being sensitive to it. And so I mean, to go back to our analogy of freestyle skiing before, a lot of what I'm trying to cultivate in life, partly through meditation, partly through other stuff, is actually to be deeply present in the moment. so that if a different type of mobile comes up or my ski gets caught on the mobile or, you know, whatever, I can change direction in some way.

And I think this is the case with interviewing as well, right? Like I am extremely prepared, obsessively prepared when I go in for an interview on the podcast. But with something like my interview with Chris Beck, I started and I really intended to ask him about this whole idea of what he calls the Piper mindset, which is perpetual incremental or maybe it's persistent incremental progress eternally repeated. And he had just had a new child who on January 1st, Charlie Munger's birthday, who he had named Piper. And so I was going to start the interview there.

And then Liberation Day comes and the market is tumbling. And I'm here on a podcast with my friend who's in Central America and looking incredibly calm as the market has been plunging. And so I had to change direction. I didn't have to, but I was present enough and he was present enough that I just totally changed direction. And the first part of the podcast became about what it's like for him in a market meltdown like that and how he manages to be so calm and so open and so free. And so I think if you can cultivate a kind of deep presence and a calm and an openness, then as circumstances unfold, whether it's in the markets or in life, like the traffic jam heading to the wrong place to take my wife

to the doctor, you know, you're just much more able to adjust. And so even though there's a kind of chaos and a lack of order to my approach to life and to my design of my life, I feel like I'm constantly investing in things like building that capacity for deep presence. And so even though I screwed it up this morning and didn't do my meditation, didn't do my morning connection. And I know that I'm coming back to that. And I know, you know, like, there's a sort of relentless forward motion to the way that I do this. So it's disorderly. But there are these persistent themes that I keep coming back to, or persistent skills that I keep trying to develop. So I do think it's kind of key to have some sort of guiding principles, some sort of overwhelming sense of what matters to you.

They say that the grass is always greener. It's incredible how present you are and how you can go in different directions. I love the episode you did with Chris Beck. And I think what stood out to me, other than I'm not shy, mentioning again, how wonderful you managed that into you, what was how aligned he seemed to be with his choice of lifestyle. And I would be the first to say, not that it matters at all, but like I would have to say, I could not live the life he wants to live. And I would have surprised if you could do the same. But that's not the point. The point is that he has, he's living a very aligned life. And perhaps, again, I don't know him too well. Perhaps it has come through some ups and downs and then he realized what he wanted

to do. And it makes me think of Bill Miller and we talked about him and his life a few times. And certainly, again, it comes for all of us, but there's certainly been some very, very challenging times. And I think if more than anyone and perhaps together with Chris and others, like he figured out very much in recent years like, oh, this is how to be aligned with the way I want to live my life now, whether that's, you know, not putting gas in your own car or not decorating your own house or whatever, it might be. It's like, I don't know what is right for other people, but whenever you speak about Chris or with Chris and Bill, it seem incredible aligned. Yeah, and Pico I, as well, who maybe we'll talk about a little later. And so I think,

was it who said this to me, I think actually it was Pico said, who's an amazing author, said, this to me recently when we were talking that my approach to interviewing the great investors here just re-read rich or wiser happier was deeply idiosyncratic because I was focusing, I was focusing on things that were really deeply personal to me and other people wouldn't be focusing on the same things. And so I think if you look at the book, the book is really about how to live. It's like concealed within all this discussion of how to invest, but really it's about, you know, there's a deeper yearning there of how do you crack the code financially so that you can have total independence so that nobody can tell you what to do so that you can live in a way

that's true and aligned to who you are, which I think is what I was wrestling with at the time. That was, and I think that's probably to some extent why it resonates deeply for a lot of people. I think the podcast in some way is a continuation of that. And it's like, now I have much more independence and can live in a way that's more true and aligned in a way. I'm less subordinate, less dependent on other people to some degree. But I'm really trying to figure out how do you build happiness and peace of mind and joy and equanimity into your life while still being really productive, really, you know, like how do you, you know, Tony Robbins had said to me at one point that it's not about work-life balance, it's about work-play integration. So how do I have a

really say, or maybe he had said it to Peter Diamandis and Peter Diamandis said, said it to me and I attribute, you know, but the source was Tony. So really, the fact that these discussions about building an aligned life and designing your life come up so much in so many of these podcast episodes is because that's what I'm exploring. It's like how there's a tension here. that we're discussing today about like how free flowing should it be, how flexible should you be, how adaptable should you be, how structured should you be? You know, a few years ago, I think we fell into the illusion or the delusion that if you just were structured enough and drove yourself hard enough and did enough life hacking, then you'll make it. And if you don't make it, it's because

you're failing to apply these rules that these people have figured out. And it's like, no, no, That didn't work. And so then it requires a higher level of playing the game. And the higher level becomes, you sense that it comes from people like Daniel Goldman, Sokneyer, Pichoyer, Michael Burke, you know, like they're just more elevated. They figured out more stuff. And so the game continues, this exploration that we're going through is really an exploration of, you know, at an earlier stage of development, it's like, how do we,

we get independent so that we're not having to kowtow to anyone and how to have more time, more freedom and like, and then it becomes, how do I become more joyful? And then it's like, how do I serve other people better? How do I, how do I lift up other people? So the game just keeps getting more nuanced, I think, and maybe like it sounds like more of a value judgment. But in some sense, it is more elevated. And you see these people who are really joyful and it's not because of money. And you start to be like, God, how do I get more of that? Like, how do I? And so I think we, we've kind of been playing the money game a lot thinking that the money or the self-control or self-discipline would do it. And there's an increasing sense, I think, when you listen to people like

Pico or Chris Begg or Michael Berg or Sokney that it's like, no, no, that's not going to do it. So things like serving others, helping other people, being more true to yourself, being kind of, being more loving, you know, having more open space in your life, more time, more free, you know, not just time, but actually, you know, being more awake so that you can notice what you're doing rather than just be sort of blindly sprinting. So I think that's a little bit what's going on at the moment in our explorations. That's wonderful put. And I was just about to say how to sleep more so you can be more awake.

But I more or less mean that literally in the sense of, I know I'm in a good space if I sleep a lot. Anyways, it's sort of like a topic in itself. You can certainly, certainly overdo it. But I think where it came from, I have an executive coach I speak to once in a while. And she asked me how I know I'm in a good state. And I said, I just, it's whenever I sleep well. And I'm not talking necessarily about sleeping 12 hours, anything like that.

That's probably not. But like if I consistently sleep, you know, eight hours, sometimes I can even, you know, eight and a half. And I do that consistently. That's whenever I, I know I'm in a good state. If I have, and it's usually always something to do with a relationship, if there is a relationship that's not good, I can feel it immediately in terms of how I sleep. Yeah, there's a lot there. I mean, I've started sleep a bit because I worked on a book as a ghostwriter that was a

number one bestseller where I had to interview famous people about sleep and nutrition and like, all of these things that I fail to apply in my own life. And I think you can, I think this stuff is, is true. true and right and you want to master these principles. And at the same time, I think you can start to worship them and you sort of lose the spirit of them. And I just, I'm somewhat skeptical about some of the sleep stuff. It's like, you know, it's clear that we need different amounts. I don't set my alarm or anything and I pretty much wake up at the same time. And I, partly this is, what was the guy who wrote, Why We Sleep, Matthew Walker? Yeah. So I had interviewed him.

him and I asked him about my weird sleep habits. And he was like, no, sounds sort of okay. It's like I'd take a nap sometimes in the afternoon, but it's never more than like seven minutes. I don't set the alarm. And I don't know. I think it's really easy to fall into this delusion that if I just get my eight hours and if I just invest this amount and if I just turn over this many rocks in picking stocks,

it's all going to be good. And then you chase and you chase and you chase. and then when happiness and peace of mind still alludes you, it's really depressing. And then you're like, if I had only run a bit faster and slept a bit more and had the ideal temperature in my room, it would have been that much better. And it's like, yeah, yeah, it's probably better to have it 67 degrees or whatever than 70. Like, yes. But, you know, look at, look at Warren, who said at the annual meeting, you know, Charlie and I never really exercised much. We were carefully preserving ourselves. And it's like, you know, they've mentioned 99 and 94, you know, and being happy

and loving their work, I think probably has contributed a great deal to longevity. So I think, given that I'm anything but a health guru, you can discount, you know, 60% or 90% or whatever of what I say. But I think there's something kind of important here about don't fall into the delusion of thinking that if we just nail all of this sort of life hacking optimization stuff, then happiness will come. It's like, no, when I look at the people who are happiest and have most peace of mind, they tend to be people who are very sharing, very kind, very appreciative, you know, doing work that they really love and that serves other people. You know, I just think, I think it's too easy to sort of fall in love with these tools and techniques and assume that they're going to rescue and save

us and redeem us. And it's like, they don't do it. No, and if I can sort of like take it down to one line, if that's even possible, I would say it's about being aligned. It all comes back to being aligned. So whenever we look at very people like Buffett, people like Munger, they're just very aligned. And to your point, I don't think that there is a recipe of this is like, As long as you check these boxes, that's the path to Nirvana. And then another thing sort of like takes me to the next point here about life design, which I kind of feel is completely useless because now we're checking off different boxes. Anyways, that's the irony of this conversation.

But I wanted to shift gears here a bit and I almost feel bad about it now that William, that we talked about, being aligned, checking off boxes. I've tried something new this year. and I've typed up here in my note that I try to be intentional about being less intentional, which sounds completely ridiculous in this context here. So I think that there is also something to be said about you want to optimize for different things depending on where you are in life. And whenever we hear about a certain way of living your life, not only might it not be

right for you because you just wire differently, it might also be that that person is just in a different state of the life. And so I thought about that recently. I was trying something new this year. And I typed up here that my wife is very intentional about doing certain things and certain years, whereas I kind of feel like time flows more for me from one year to the next.

And then I'm like, that's such a ridiculous example because we just illustrated here, speaking with William, I'm super, super structured. And here I am saying I'm actually not that structured. And so the metaphor I probably want to use here as I go on to the next point is, you know, if you are, perhaps it's one of those things, if you are on the 80th floor of a building and you look down at a different building, one is at the seventh floor and the other one is the 11th.

That looks like they're very much leveled. Whereas if you're on the 9th floor, you can certainly tell the difference between the 7th floor and the 11th floor. So I don't know. It might be both that my wife and I are very intentional. I don't know. But I'm trying something new this year and it's a framework. I wanted to share with the audience and then perhaps there's something to be cloned or perhaps

it's just completely ridiculous. Let's see. So I used to travel quite a bit, but here in 2025, for different reasons, I want to travel less. I would probably do four days here in London, September, to hang out with you William and some of your friends with the masterclass. But other than that, I plan to stay here in here in Olhu's Denmark. And, you know, in my 20s, I wanted to travel. I always wanted to travel. But in my 20s, I very much did it to check out different sites. So, you know, I would go to Paris and then, you know, get my photo of the Eiffel Tower.

And then I was like, oh, you know, checkmark. Now I have a photo of the Eiffel Tower. So that was very much how I traveled whenever in my 20s. And I don't regret that period at all. It was a lot of fun. Very different way. It was, you know, bunk beds and, you know, hostels and pasta and ketchup and all that good stuff. In my 30s, I traveled to spend time with interesting people.

And there's something beautiful happening whenever you can really speak for a long time with the same person and do that for consecutive days. And it's something, you know, even with all this digital technology and Zoomco. and all that stuff, which it's absolutely used, and it's wonderful. There's something about continuing a very long conversation for multiple days that just can't be replaced with modern technology. And so I wanted to do something different this year. And I think part of it also has to do with probably become a bit more comfortable. It's the same airports.

It's not necessarily the same hotels, but as much as I love interesting conversation with wonderful people. I've, sometimes it's just too much stress with all the traveling and so on. So I tried something new this year and I wanted to see if I could bring the world

here to my doorstep. And so I tried something new. I've said to the mastermind community, also to your master class, William, that if anyone wants to visit me, just send me a text. And, you know, and let's hang out.

and I really got inspired. And this is actually something I practiced for a few years and now sort of like trying to do it in a different way. But it was from this book Factfulness by Hans Rusling. And it was this wonderful book in his own right. And he got invited different places with Bill Melinda Gates. And then he would just have those interesting conversations with them. And to me it was just a very interesting framework.

I know like Bill and the Gates have a lot of means and you can do other things and the rest of us, but this idea of, oh, this is an interesting person. Now I'm going to invite this person and then continue that in person, really. And so this was something that I've tried doing inviting different people here and sometimes to say yes, all the time they say no. And that's completely fine. Sometimes calendar just don't align and sort of like it is what it is. And so to me, being as intentional as I am, I actually. feel this is quite unintentional, at least it is for me, where I feel like I'm opening up my

calendar for a lot of people. And sort of like, you know, for the mastermind community and for the masterclass, you know, you vetted those people, Kyle and Clay. And so, like, I know that the high quality people, like, otherwise, you know, you wouldn't be hanging out with them. But it's also people that I don't know. And I'm sort of like also putting an extra layer of complexity. So it's not like New York or London where you sometimes happen to be because you're visiting friends or conducting business. Like, if you want to visit me in all who's Denmark, like, you really have to mean it. Like, the connections are terrible. The weather sucks. It's like, if you want to visit, you want to visit, which is kind of like wonderful. So, you know, there is a level of friction there

that makes some of those conversations, you know, just frankly, more interesting. And so I don't don't know if this is necessarily something people can clone. You might use a different selection process, but it's something that I've tried here this year, and it's been an absolutely wonderful experience and sort of like try to let serendipity takes place. And sometimes, you know, you connect really, really well with a person, sometimes less so, but you get the chance in a different way than, you know, a Zoom call that's schedule for an hour. And I don't know, it might be just the way that I'm wired, but sometimes, you know, it's like for an hour, you're like, you have an agenda.

You're like, it doesn't flow the same way. You don't necessarily connect the same way. And there's just something about meeting up in person. It's very, very difficult to replicate on the Zoom call. So let me throw it over to you here, William. Yeah, there's so much there. And, you know, it reminds me a bit of Guy Speer saying to me many years ago, I think when I was helping him with the educational value investor, he said to me, there are certain

people, you should be willing to cross the ocean to see. And, you know, he would really make an effort to go see Monash Papwright, right? They would go across the ocean to see each other and to hang out. And that had a big impact on me because I remember sort of thinking, I'm always in such triage mode. And here I am, you know, in this industry as a writer that the magazine business had just collapsed and fallen apart. And I was starting to ghost write books. And it was like, I didn't really know if that would work out or not. And I was like, well, it's all very well for you to structure your life where, you know, you've got fees pouring in and you're already rich and you've got family money and you can afford to travel and do this. And I'm always having to hustle. And so I remember

sort of both, I think, admiring and probably envying and resenting the fact that a lot of these great investors had the freedom and flexibility to travel. And, you know, the guy one year couldn't go to Ted in Vancouver. So he gave me his ticket. And I went and hung out with Monash there and with Picoire. And I said to Monash, why do you come to Ted every year? And he said, two words, Guy Spear. And the reason he went was so he could be with Guy. And the talks and everything were interesting. but really he got to be with Guy. So I think there's deep wisdom there in this sense that the thing that's going to bring richness to your life is relationships where you're getting to hang out with people

you love and admire and who are aligned with your values and the like and who you learn from. And if you can do it in great places, whether it's in O'Hus or in Omaha or in your New York or London or whatever, that's great. So I think just knowing that it's about the relationships, that that's really key, right? And so this is a pretty good example of the upside of my free-flowing approach. And there are plenty of downsides because I often feel overwhelmed and like I'm doing too many things. But, you know, Josh Tarasoff, a friend of mine who was introduced to me by Guy Spear, a

very good hedge fund manager has become a good friend, a lovely person. Josh said to me at one point a couple of years ago, I think you'd really, like to, you'd really like Chris Beck. And so I traveled into New York from Westchester, you know, it was a pain getting there, and it was a thunderstorm, and it was pouring. And he was staying at the Essex House Hotel because he was teaching his class at Columbia that week. And so he'd flown in from, from the jungles of Central America to teach. But it took me ages to get there. And I had a three-hour breakfast with him. And later that day, he was interviewing someone like Seth Klaman or something in his class, some great investor. And we just really liked each other.

We had a lot in common. And I think pretty soon after that, I decided that I was going to go visit him at the hotel that his wife runs in Central America. And I don't usually take vacations, let alone, you know, travel across the world to hang out a bit with someone I don't know that well. And I went with Laura and my wife and we spent like nine days there and I had so many creative ideas. And we saw a fair amount of Chris and his wife and the like and met some other great people. But I also just walked a lot on the beach and I wrote a lot of stuff, wrote a lot of notes and really thought. I was really putting into operation what I'd learned from Guy in many ways. And then that leads me to become friends with Chris.

I end up investing with Chris. I end up interviewing him on the podcast twice. And he'd always been kind of under the radar. Nobody really knew he existed that much. I mean, he's like, he's like a sort of cult figure under the radar because he teaches the class that Ben Graham taught. And because he's a lovely guy. But so then I went and sat in on his class when he had Nick Sleep and Todd Combs come. And then I, you know, and then I interviewed him in ValueX a couple of weeks ago in Omaha.

And so it's all really about building these relationships, however you do it. And sometimes the fact that it's difficult and that you have to go out of your way to do it is a really important thing in its own right, because I think it's showing to that person that it matters. I struggled massively to get to my brother's 30th wedding anniversary a few months ago. I flew from Vail where I was giving a speech to London. I think I had three defective planes, one plane that had to turn around while it was halfway over the Atlantic. It took me like 36 hours to get to London. But I think it was really important because it was like a declaration of love in a way. It's like, I care so much that I've like, I'm not abandoning this trip. I'm coming to your wedding anniversary no matter what. And then my brother came to New York for my paperback book launch a couple of weeks later.

I think because I had done that, you know. And so I think knowing that there are certain people in your life that you're prepared to travel for is really important. And then also, if you inverted, I think your idea of making it kind of difficult for certain people is also a really interesting kind of funnel. And I, you know, I'm having lunch with someone in an hour or so who I was one of the speakers at ValueX and he's an investor from London. And I've never met him except to say hi, ValueX. And he had written to me and said, I'm going to be in New York. Could I see you? And I said, yeah, you're welcome to see me if you're willing to come out to where I am in Westchester, which is basically an hour outside.

the city and I'll meet you for lunch. And it's like, I put, you know, I can't do it that often, but it's like I put up a little bit of a barrier. So it's like if he's willing to travel for two hours, like between coming here and going back and spend a couple hours with me, all right, I'm open to that. And I think this gets a part of the tension for me in the way that we're designing our lives is if I open the floodgates to too many people, my life spirals out of control and I have no peace of mind and I have no time to do my work and then I feel guilty and I'm falling behind and I'm letting people down and missing all of my deadlines. But if I don't open myself up to people, I'm missing the possibility of that breakfast with Chris Begg that leads to a really beautiful

friendship that is a life enriching thing for me. And so I don't know. I think there has to be a kind of a kind of looseness within the discipline. So, you know, as Guy once said to me, these are invitations to serendipity. There are reasons why you go to a party, for example. It's an invitation to serendipity. And there's, I have a very strong yearning to pull up the drawbridge and not let people into my life because it's a pain and then the relationships become difficult and then some people are difficult and some people too demanding and then it gets too complicated and then I get kind of flooded and fall apart and, you know, and then I'm like, no, no, no, all of the best things come from being open to serendipity. And so I think there's a,

there's, there is a tension here, but I think the idea of being willing to go out of your way and also seeing if other people are willing to go out of their way to spend time with you, it's a helpful filter. Let's take a quick break and hear from today's sponsors. No, it's not your imagination, risk and regulation are ramping up, and customers now expect proof of security just to do business. That's why Vantz is a game changer. Vantz automates your compliance process and brings compliance, risk, and customer trust together on one AI-powered platform.

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found in the income fund fund fund rise.com slash income. This is a paid advertisement. All right. Back to the show. It is a very helpful filter for sure. Now, I, I have a friend who I met up with on four different continents, which has been wonderful. We've seen amazing things, but it's always been for the conversations. It's never been for the sites. And, you know, beautiful things in life just compound and whether that's capital or relationships. I'll tell you one thing, Steve, before I let you move on to the next subject, is I think if there are, you know, to go back to the thing that Tony said about work, play integration,

if there are ways of combining a bunch of things, that is a lollapalooza. So for me to go to Omaha with my son Henry, which I did last week, and, you know, here I am sharing a room with my 27-year-old son. In some ways you could say, you know, really, I'm too old to do that. It's like, what a joy to have a 27-year-old son who actually wants to come with. you and is happy to share a room with you. And so I don't know, so there, I'm spending time with family, extended time with my son, you know, it was three and a half, four days with my son. I'm introducing him to friends, so he gets to hang out with, you know, Gyspere and his family and Chris Begg and Christopher Sy and Chris brought his daughter along, who's lovely his teenage

daughter and had a dinner and you get to meet all these other great people and all these great investors. And then the Masterclass group, I think, like, 18 people had come, maybe 19 people had come in from six different countries. And so he gets to hang out with people like that. And they're an incredibly interesting group of people. And so in some way, I think, I think if you can combine this stuff, it's like people who go for a walk every day. There's a famous cartoonist from the New Yorker, who I think has gone for a walk with one of her closest friends or her closest friend every day in Central Park for like 20 or 30 years or something. I think that's the smart way to do it. I want to find more ways to do that to integrate multiple good things

at the same time. All right. So, William, I wanted to take this recurrent segment we have in this episode about books that we read in the last quarter. Two of the three books that I'm going to talk about here actually came from you. Two of them, are spiritual and one is about math. And you can, you can, people can guess out there for themselves, which, which two of them I got from you, William. But the first one I wanted to talk about is this book, Letting Go by David Hawkins. And it was a very different book than, than Power versus force, which I felt had a, to be frank, I never finished Power versus Force to me. It's just like, it's too difficult to read. And it's just the way it's written. But I think the message from

powers as far as is very powerful. And I feel it's ironic how I've tried reading that book multiple times. I can never complete it. And still, I find it to be so impactful in my life. So anyways, letting go was to me a lot easier to read, less difficult to read. I felt the examples that were used, which is much easier to relate to. I specifically zoomed in on chapter two, I read that multiple times. I read the entire book, but especially because you said over, like, last quarter, chapter two, that is a chapter you continue to read. And I found that to be incredibly helpful.

The idea is that if you have negativity, it's really the resistance that keeps it alive. And what the book talks about is if you lean into that, which sounds counterintuitive, because that is exactly what we as people don't want to do because it's uncomfortable. But actually, if you lean into that, being uncomfortable, that is actually what releases that negativity. Yeah, these negative emotions. So something like fear or anger or anxiety or guilt or shame or whatever arises, you're not suppressing it.

You're sort of abiding with it with keen awareness and curiosity. non-resistance, radical non-resistance. I don't doubt that the technique works. I've figured out that it works. I have a hard time doing it if I'm not in a good state of mind. If I am in a good state of mind and for whatever reason I get triggered by something negative, I can't imply the teaching, the technique. If I'm in a really bad state of mind, I'm hungry, I'm tired, I'm whatever, stressed out.

and then I get a trigger or something and I have these negative emotions, it's much, much more difficult for me to apply the technique. But I wanted to share that book. And one of the other things that I wanted to highlight was that, you know, we've talked about how you can calibrate on a on a high frequency or low frequency. And I've heard you multiple times say to me here on the show, William, like, this emotion is, you know, calibrates higher or lower. But it was not And I kind of, I think intuitively understood it, but it was not before I actually saw the book and saw like, I think Hawkins called the map of consciousness. And ever the mathematician, he assigned a numerical value to each of the emotions.

And ironically, that was whenever I thought, now I really understand like about recalibrating on a higher frequency. So to me, that was- Yeah, it's important because you see the things, this is what I've said to you before, I think, is you see the things like shame and guilt. calibrate really low, apathy. And even anger calibrates higher than like shame, you know, because at least there's energy to it. But then things start to become kind of positive, I guess, at 200 on his scale from zero to a thousand. And so, and so then you start to realize, okay, so unconditional

love is 540 on his scale. And so you start to think, what if I could really start to be unconditionally loving to people and to myself. What an amazing thing that would be. And so his view in a way is that a lot of these great rational thinkers top out around 499. And I have no idea whether these numbers are true or verifiable or, you know, maybe they're directionally correct. Metaphorically, they all feel to me to be very helpful. But I'm not that hung up on the numbers themselves. But I think, I think it points at something really, really important, which is that a lot of the people that we revere in the investment world are these hyper-rational people who've built the rational mind muscle about as well as you can build it, right? So you look at Charlie Munger, you look

at Ray Dalio, their ability to look at blind spots and biases and the like and just be super rational. They've taken that to an extraordinary extreme. that enables all of the great achievements in science and logic and law and things like that. But for me, one of the things that has been very helpful about reading books like Power v. Force or letting go or the eye of the eye, you know, read a lot of the Hawkins books many times, is you start to realize that there's this nonlinear reality that in certain ways, higher and deeper and more profound than the purely rational. And so I think part of the challenge is that at a certain level, you need to let go of this tool of tremendous rationality in order to get beyond it.

And I think that's extraordinarily difficult for the sort of highly intelligent, articulate, rational people that we feature on the podcast and that listen to the podcast. because we celebrate the rational minds so much. And yet there's also, you know, I think we're starting to realize like the power of deep intuition, the power of things that you sense, but you can't really explain or synchronicitis and the like, these things that point to something deeper, but that's not verifiable scientifically. And so I think the blockage at a certain point becomes that rational mind. And there's a very remarkable book I've been reading, sorry to hijack you, that's sort of not dissimilar by Tara Springett called The Stairway to Heaven, Nine Steps of Consciousness from Unawareness to Full Enlightenment.

And you really get, and it's not dissimilar in certain ways to Hawkins, like, and to Ken Wilbur, you know, the sense that there's a sort of a scale that you're ascending and reality changes at each of those levels. You're actually seeing a different reality at those levels. And part of what's helpful in reading her book is that you can sort of get a sense of where you are in these levels of consciousness and how to strengthen yourself in certain ways, you know, how to elevate in certain ways. And so, for example, so she's a psychotherapist, among other things, and teaches Tibetan Buddhism as well in England, I believe. I don't know much about her. but this had a big impact on me this book recently. And part of what she's doing with a lot of her patients is different depending on where they are, you know, in their own reality and their own life, but it's simply to send love to people

and, you know, it's so difficult people in your life, like to be thinking of them to think, you know, I wish you to be happy and, you know, I wish you to be healthy. And also to be able to do that to yourself when you're full of, you know, self-loathing or anger or self-haping. or whatever, you know, and guilt or shame or whatever. And so I think part of what's interesting about that in the same way as the letting go mechanism that Hawkins explains in chapter two of letting go, I think Tara Springett is pointing towards a very powerful mechanism there that sounds so obvious that it's really easy to dismiss where you're just building your capacity for being more loving.

and given that love calibrates really, really high in Hawkins' terms, that's an important thing to do. And so, I don't know, I think these scales are kind of interesting, the sense that there are these ascending levels of reality. And also just really important to know if this is true, which I feel that it is, but what the hell do I know? If it's true that we're each really seeing a different reality based on our level of consciousness, that's very helpful. because then you look at people who you're sort of bewildered by, and you're like, well, of course they see a different reality to me. And then likewise, if you're Sokney-Ribershe, or you're Michael Berg-Berg or you're a kinder, you're seeing a totally different reality than I'm seeing

because they see a sense of oneness, right, that everything is just magical display of light. And I'm sitting here thinking, I can't believe that I'm stuck in this traffic jam when I should be, you know. So I think it helps you to sort of tread more gently a little bit and be aware that we're seeing such a narrow part of the picture because we're seeing everything through the lens of our own level of consciousness. So that takes me too to the other book. I wanted to talk about A Flame by Picoaya. I think the premise of the book, or perhaps I should say my premise, going to your point about how we all look at things from where we're coming from and our own conscience. this idea of being alone with your thoughts, to me that was very powerful. I sometimes find that to be challenging, depending on which state of mind that I'm in. And one way I measure that

is terrible. I measure everything. But if I'm not in a good state of mind, I would typically have all kinds of stimuli. Typically, something I listen to, I'm very auditive. And it's not all negative. So, you know, part of my job, a part of my play, a part of who I am is I listen to things because I find them interesting. So it's not like, it's not necessarily I'm in a bad state of mind if I listen to one of a billionist podcast. But I can sometimes, you know, hopefully not. No, I can certainly overdo it. Like if I'm a bad state of mind because of whatever thing, I feel lonely or feel angry or whatever it might be, I would sometimes listen to something. almost regardless of what, just to have something so I'm not alone with my own thoughts,

which I find to be a good short-term fix and a terrible long-term fix, and that's probably not how it should be addressed in the first place. Can I pause on that? Because I think you've actually put your finger on something that's hugely important that I think a lot of us are experiencing at the moment, which is that the world is so crazy at the moment and it's so intense, and the news is so intense and there's so many sources of dysregulation, so many things coming at us, that I think there's a very powerful tendency to numb ourselves or narcotize ourselves,

whether it's me watching TV in the evening or I find I'm always listening to podcasts. And it becomes, you know, we're building that muscle and we can say, well, I'm just a learning machine. and, you know, like I'm a continuous learning machine, like Warren and Charlie and the like, and it's great. But sometimes it is just because we're numbing ourselves and that we don't want to be with our emotions. And so I think to resist that is actually, and I'm speaking to myself here because this is something I'm, you know, I'm keenly aware of my own falling short here. To be aware of that is really important. And if you look back at what Sokney Rinpoche was talking about.

with your beautiful monsters and handshake practice, that's another way of dealing with what David Hawkins is dealing with, with his letting go mechanism, which is you sit there and you recognize what's coming up. So you actually pause and you think, okay, so I want to numb myself now with a piece of toast or a piece of chocolate or six pieces of chocolate or six pieces of or another podcast or whatever or more news. And just to recognize that and to do what he would call handshake practice where you you sort of nod at it and smile at it and you're like, oh, there you are, okay, I see you.

I see you there. I think that's really important because it's breaking a little bit of the immediate impulse to act on this thing that's really just sort of a band-aid over this kind of wound. or, you know, a way of, an unsophisticated way of dealing with our anxiety or our fear or our loneliness or our sadness or whatever. And I, you know, it's fine to narcotize ourselves a bit, but we don't want to give a strength to it too much. And think of, think of that famous line from Victor Frankel, right, about how there's this moment of free choice in between, in the space between stimulus and response. And so I think part of what meditation is doing is allowing you to expand that space between

stimulus and response. And so I think Pico, who doesn't meditate, has used, you know, his constructed life where he's been over a hundred times to this monastery that he writes about in a flame. So he goes on retreat every quarter. He doesn't have a cell phone. He doesn't have a car. He's created like a really simple life, a very quiet life in the suburbs of Kyoto and Nara in Japan. And he's a travel writer. He has a ton of stimulus in his life. I mean, he's traveled millions of miles.

But he's so rigorous and disciplined about creating spaciousness in his life. And so I think this gets at what we've been discussing about life design is as you become more aware of what's going on. under the surface, you can be like, okay, I can make a more skillful choice here and build in more space, more time, recognize my emotions and try not to hide from them and try not to just apply, you know, the quickest treatment. Does any of that make sense? Yes, that 100% make sense. I just, I need to do it instead of just talking about it. But you're absolutely right. And it is one of those things. where at least I have a tendency to do quick fixes with a lot of things and then it just

the underlying concern just continues to build up, which is obviously not what you want to have happened. But you're aware of it now. That's a huge advantage. So I think part of your thing of staying at home this year instead of traveling a lot is you've recognized that you need more spaciousness and more simplicity and you're going for these 17,000 step walks and the like. It's, you're giving yourself more spaciousness. And I would just say, what would happen if you didn't listen to a podcast the whole way? Or if you didn't have your phone with you at all, what would happen? And so I think these are just sort of experiments in sort of, to put it in pretentious terms, experiments in microspaciousness. You know, like, what would happen if you found little

ways to inject more spaciousness. And I'm speaking to myself here as well because I'm big on narcotizing myself and numbing myself so that I'm not alone with my thoughts too much. Yeah, it's interesting that you say that because I have two different experiments. One here in 2025 where I don't want to travel other than brief stay in London with you, like I mentioned before. And then my wife and I are going to Singapore next year and spend some extended time there, which is another type of experiment. And it's sort of like, it's kind of like interesting whenever I talk to this setup with other people, there is one group of people and they say, oh, not traveling.

That sounds like really, really nice and, you know, tranquility, fighting yourself, working on yourself. And then there's another group of people who are like, why not travel if you can? That's just stupid. full stop, life short. But it's a completely, it's a completely understand. So it goes to this point. I want to tie a few things together here about like how we,

how we look through different filters based on where we are and what we optimize for. I was hosting a mutual friend of ours here in Allhus, not too long ago, William. And this goes to this point here about letting go and recalibrating on different frequencies. And I've, unfortunately at the time I hadn't read letting go, but I tried some of the techniques without knowing him and they were very effective.

So I wanted to share that with you. I've been incredible lucky with a few things in my life. Some of this deeply personal is something I really prefer not to talk about, but there have been some things that have been just why I've just been incredible lucky. And for whatever reason, and probably for the wrong reasons or who knows, it has filled me with guilt, which calibrates very low. And I think where that comes from is that, you know, I have someone close to me that's sort like falling in a hot times of no fault of her own and, and, you know, I don't know.

I think that's sort of like where the guilt is coming from. I really don't know. But what a friend said to me whenever I was talking to him about this emotion, he said to me that he has likewise been very, very lucky. I should also say he's extremely talented. that worked really, really hard. But he said that he sort of felt the same way that I did, and then not at all. He said he felt irresponsibility of making sure that other people were lucky because he has

gotten so lucky. And it's sort of like it lifted a fog of my mind, of that part of my brain that was just full guilt, which is just such a ridiculous, terrible feeling to have. And then calibrate on a higher frequency of responsibility and how to use that in service of other people. And I should basically just listen to you the first time you told me to read Let It Go. But like for me, it was so powerful. And I didn't really understand it before, because I'm such a numerical person,

before I saw different numbers to different emotions. I was like, oh, so that is what it's all about. So I just wanted to say thank you for that, William. Oh, sure. I mean, we each have different ways of connecting to truth. And so for some people, you could really look back on your life and think, when was a time where I really felt no guilt? I just felt joyful and aligned.

And you might be like, oh, I had this amazing time where I was with this person I loved or I was with these people and I was helping them. I sense that I helped them and lifted them out of their pain. And I just felt great. And so you'd actually just remember an experience and you wouldn't need the number. you'd be like, you know, on the scale, you'd be like, oh, I remember how that felt. You know, so I, you know, I'm by no means an expert on this, but I remember at one point reading something about Tibetan Buddhism and it would say how, you know, the Buddha had designed

so many thousands of different methods of connecting and learning because we're also different and we have so many different ways. You know, so it doesn't really matter what your portal is. I mean, I think I was talking recently, you know, with the master class group, which we've referenced a few times here. Sorry about that, but it's a really, it's become a really important part of my life, right? Because it's this group of 20 people that we study with every, every month, we do a different chapter of the book. And so it's a one-year, one-year process that we're probably halfway through. So I was really focused on the whole concept of simplicity in the last class

a couple of weeks ago, where we were talking about Joel Greenblatt. And I was really struck when I went back and I listened to my earlier podcast with Joel, when I was talking to him about, you know, feelings about his life. And he said, overall, I feel very blessed. And he said, because of that, I feel like I owe it to give back. And I think that's a, you know, that's a really lovely response, right? He feels his good fortune. And instead of falling into guilt and being like, oh, my God, it's so ridiculous that I'm so lucky. And then, you know, or feeling somehow like, well, it's also random that it's all going to end any time. Because just as I got it randomly, I, I've got to lose it randomly.

You know, he's like, well, I've been so blessed. Let me try to help other people, you know, which is very similar to what Warren said, right? Last year in Omaha way he said, you know, if you've been lucky, you know, try to make other people lucky as well. And so I think these different teachings, whether it's from Tibetan Buddhism or whether it's from studying someone like Joe Greenblatt. It's just a really thoughtful, really decent, lovely guy or David Hawkins, they just give you a sense of like, oh, this works. And then sometimes when you study things like Hawkins, it explains what you knew already. And I was thinking about this last week. I think I talked about this on the podcast that I've got coming out celebrating Buffett,

when Nick Sleep had said to me that Buffett really gave him and Zach the confidence to do what they already knew was true. And so I think we know these things already. But when you meet someone who's sort of a little bit wiser, whether it's a writer who's written it in a great book, you know, like Marcus Aurelius or whatever or someone like a Buffett or a manga or Joe Greenblatt. You're like, oh, okay, that's why I felt that way when I was aligned with this kind of behavior. And that's why I felt awful when I was misaligned. And so it's very clarifying, I think. William, thank you for sharing. I have one more recommendation I want to make.

And I kind of feel like it's going to be a very brute change. It's a math book. It's actually a recommendation by Buffett. That should have been my second way. Yeah, it's a book called Femmes's Last Theorem. And I think it's a bit of an acquired taste. For me, it was the best book I read last quarter. Not helpful in the same way as a Flamen letting go. It's just like, to me, read like a thriller to most people who probably just put them to sleep. But it's sort of like, is what it is, and I still wanted to share it. You know, some of you might remember math, basically, math, you learn pategras. He taught us that x squared plus y squared equals c squared. And then the French mathematician, for Ma, he made this, this bulk claim that x in the power of n plus y in the

power of n equals z in the power of n. It has no whole number solution for any n higher than two. So I feel like a bit of a jerk as I'm saying this next because it makes for a terrible podcast, especially if you can't see it in front of you. But like in essence, it's actually, It's actually very simple, and it looks simple, at least if you're a math nerd. For the rest of the world, it's probably like, ugh, what he's talking about now. But anyways, what was interesting is that Fermat claimed to be able to prove this theorem, but the proof was never found. And it actually, it's not simple at all.

Once you really start digging, it has been something that mathematicians have been trying to prove for centuries. And, you know, it's kind of like ironic. The first time I read it, I was like, and I should say it has been proven. But the first time I read it was like, oh, I can do that. And it was just like, come on. Like, no, the greatest mathematicians have been puzzled by this problem for centuries. No, of course you can't solve it.

And so it's such a wonderful book. And I really fell into this rabbit hole with the story. And there's this one line that really stuck with me. And I, you know, there's this math block. Yes, there are such things as math blocks out there. And the writer then said, I think we all remember where we were whenever we heard that Fama's last theorem was proven. And to me, I was just such a wonderful and liberating quote.

Because I would imagine that 99.99% of the people listen to this podcast have never heard about the theorem before. And if they have, they probably do not remember where they were whenever they heard it got proven. And it's one of those things where, so for example, I was not in Omaha. And I felt like whenever Buffett met his surprise announcement there at the end, I was like, oh my God, like this is, this is historic. Like this is something that people are going to be talking about, you know, for thousands of years.

Like this is amazing. And I, you know, don't get it wrong. I wanted to have been there and, you know, standing ovation. It was just like, it was such a beautiful thing. And I was just sitting in my couch, right? And so, but that quote very much goes to that feeling where. we are all in their own pocket of the world. And regardless of how successful you are, how much you fail,

8 billion people on this planet couldn't care less about it. And at least to me, there's something really liberating about that. That's great. Yeah, and tell us the name of the author. Simon Singh. Simon Singh. Yeah, I love that. I'm going to recommend two related things.

one of which is a documentary film and one of which is a book. And they're totally related as people will see. So I don't know if anyone other than me noticed this and was excited by it, but Warren in the AGM used the phrase turn every page three times by my account. And he talked, for example, at one point he said, if I remember rightly, he talked about how he found the Japanese companies, those five. big holding companies by reading, I think it was like a 2000-page book. And, you know, these things just jumped out at him. And then later, I think he was talking about doing lots of

shoe leather reporting as a young investor, maybe when he was about 24. And I can't remember whether it was a, I mean, this happened obviously when he was a Geico, right, where he went to Geico as a young man. He knocked at the door and it was closed and someone lets him in and he ends up meeting the CEO and hearing all about it. And it ends up becoming, you know, one of his great investors. And then there was another similar reporting story where he did sort of shoe leather reporting research on a company. And I think if I remember rightly, he talked about how Jay Pritzker gave him an amazing lesson about business and investing.

And a couple of times he would say, so that also goes under the category of turn every page. And so no one there, practically, I'm assuming, actually knew what he was referring to, which is a documentary called Turn Every Page, which is about the relationship between the great nonfiction writer Robert Caro, who wrote so far four books about Lyndon Baines Johnson and also the Power Broker, this 1,300 page book about Robert Moses and the building of New York, and his relationship with his editor, a guy called Robert Gottlieb, who's the greatest editor of his generation. And so I started re-watching that documentary earlier this week because I was like, I had loved it when it came out a year or two ago. It was made by Robert Gottlieb's daughter, so the editor's daughter, because Caro and Gottlieb are both kind of ornery and private, and neither of them would have wanted to give anyone access. But finally, Gottlieb was convinced to give access by his daughter. And so what you have is the greatest nonfiction biographer of his generation, Robert Caro, and his editor, you know, who edited the New Yorker book before that was head of Knoff and before that was head of Simon & Schuster. You have them talking about their 50-year relationship and how they created these astounding books. And one of the things that Caro says fairly early in the book is, sorry, in the movie,

is that he had been at Princeton and he was a young reporter and he was hired at Newsday. And there was a managing editor at Newsday who hated kids from fancy schools. So Carrow claimed it as a joke, he was hired while this guy, Alan Hathaway, the managing editor was away. And so Hathaway, the managing editor, comes back and finds this kid from Princeton, Carrow, and is like totally unimpressed and won't talk to him. And then one day, Carrow is going through these federal agency files and he writes a long memo on it. And he gets summoned to see Alan Hathaway, the managing editor, and he's expecting to be fired. And Hathaway says to him, from now on, you do investigative work. And he says, basically, I didn't know that someone educated at Princeton could do such good research.

and he gives Kero one piece of advice, and these are his exact words, he says, just remember one thing, turn every page, never assume anything, turn every goddamn page. And so Buffett sees something in this documentary that really profoundly impacts him. And I know that it impacted him because I went to a party, I think last year. And there were a couple of people talking about how one of them was related to the woman who, I may be gobbling this, but I think I have this right. One of them was like a sister or something of the, or relative of the woman who had made the film. And Buffett had flown her out to Omaha to meet her because he loved the film so much. And so I'm kind of putting together these things. And I'm like, oh, that's so cool. Like Buffett has been making these references to this documentary because it in some ways embodies what he does,

which is this kind of really painstaking work of research. research. I mean, it's interesting. There's one point in the documentary where Kerro sort of says, you know, one of the agents who first met him said, you know, I can make you a star, I can make you famous or whatever. And Keros said, I don't care about that. Like, he just cared about doing the work beautifully. And so with the power broker, he did, I think, 522 interviews and literally thousands of interviews for the books on Linne and Ben Johnson. He still hasn't finished like the fifth volume. And he and Gottlieb, who are now like 90, are hoping that they'll live long enough for him to finish that final volume. And so there's something about these two giants working together

that also, I suspect, is reminiscent of the relationship between Warren and Charlie, which also spanned over 50 years, right? I mean, they built Berkshire over 50 years, and Gottlieb and Kerro have been working together for 50 years. And it's been kind of a fractious and difficult relationship because they both care immensely. So there's one point where they talk about punctuation and their kind of, caro had a really idiosyncratic way of using semicolens. And they would fight over it. And Gottlie, when he's explaining what makes Caro so brilliant and what he admires so much about Cairo, among other things, is he says, everything is of total importance, the first chapter and a semicolon are both worth fighting a civil war over. And he says, Kerro is industrious. He's nothing,

if not industrious. And he talks about how he spent seven years just on the power broker. And I think he spent like 40 years, basically, on his maybe longer on his Linden-Bains-Johnson biographies. And so in some ways, it's about a whole philosophy of life where you're doing everything with an extraordinary attention to detail and quality. And you think about Warren talking about, about how Berkshire became his masterpiece. It was like his artwork that he's painted over the last 60 years. And it's very similar. And so I can see why this film would have had an effect on Warren.

And then there's a related book, which is Cairo paused. I mean, Kerro's now in his 90s, but he paused in the middle of writing this immense Linnon Baines Johnson series to write a book called Working, which talks about his relentlessness as a reporter, which is just stunning. And so there's a story in there, for example, of how he figured out that Lyndon Baines Johnson stole the election to become a senator. And basically, he tracks down this 84-year-old guy.

Caro tracks down this guy who's moved to Mexico and then Texas. And he's this old man who, I think in the 1980s, had been so, so, tough that he literally killed someone in a bar brawl and then sort of goes and disappears. And so Kerro tracks him down in like 1986 and he's like this enforcer who'd worn a revolver that reached like almost to his knee because it was so big. And he basically confesses to Kerro about how he tampered with this vote in 1948 and how he'd lied under oath about it. And he talks about how he had pulled paper ballots out of the box. And he said, if they weren't for Johnson, I made them for Johnson.

And he gives Caro this 94-page manuscript that he'd written about what happened because he wants to tell the truth before he dies. And so there's something kind of really beautiful about this mindset of just relentless reporting. And Caro said, I think, in the book that he said, you know, now if anyone ever says, you know, we wonder if Lyndon Johnson stole that election, the Senate election. He's like, now we know, you know, like he proved it. And so there's a beautiful thing in that book that I'll just read you very quickly before I let you go. And he says, there was a part of him that kept leading him to think of new avenues of research that

even as I thought of them, I felt was crucial to head down. It wasn't something about which I had a choice. In reality, I had no choice at all. In my defense, while I'm aware that there is no truth, no objective truth, no single truth, no truth about anything, there are facts, objective facts, discernible and verifiable. and the more facts you accumulate, the closer you come to whatever truth there is. And finding facts through reading documents or through interviewing and re-interviewing can't be rushed. It takes time. Truth takes time. And I gave us a talk recently for an investment

firm about the art of interviewing. One of the things that I focused on was Cairo and this idea that truth takes time. And I think it gets at something really essential. and eternal about both investing and writing and interviewing and anything that you do with any quality is truth takes time and there's this kind of this obsessiveness, this relentlessness that you need. And there's a beautiful thing in the film where there's a Chepp Baker song called Do It the Hard Way that plays, I think at the end of the film, if I remember rightly. And I was looking at my notes in my phone that I'd written ages ago when I first watched the film. And I wrote, you have to focus on what matters and what you're great at and care about

every semicolon. You have to want things to endure in a world of entropy. And so that's my note to myself, right, is focus on what matters and what you're great at and care about every semicolon. Because, you know, we live in a world of entropy where most things, most things die, sort of unnoticed, right? And Caro said that the reason he rewrote every, every section of his book so many times, first by hand and then eventually typing it, is that he said, I want these books to endure. For me, both the film and that book working and his other books, I've only read, I think, two volumes of the LBJ biography. They're a reminder to do things with a sense of quality. And so it's very consistent with the whole message

from people like Robert Persig that guys like Nick Sleep and Kay Sakaria picked up on. It's It's a particular mindset and philosophy, and Warren embodies it, and Charlie embodied it. And so I think, you know, in the same way that I'm saying in my podcast celebrating Warren, that Nick and Zach were just trying to move closer and closer to Buffett, when you study people like Caro and Gottlieb or Buffett and Munger, this is what they embody. And it is a kind of frequency in the same way that Hawkins or this woman, Tara Springett in her book, The Stairway to Heaven, they're identifying there's a certain kind of consciousness. It's like a certain type of frequency. And it's a shift towards the

timeless, towards infinite games, towards quality, and away from the ephemeral, away from the selfish, away from all the things that make you go weak and towards the things that make you go strong. And so I think in some way, you know, these books and films and going to Omaha and surrounding yourself with the right people and traveling across the ocean to see the right people, they're all ways of just subtly tilting the odds in your favor that despite all of our flaws and failings, we're just a little bit more likely to act wisely. You know, I'm really happy that you brought up Karas book, Working. I picked it up and I thought about, I thought William Green and I thought Persick. That's a compliment in case anyone is wondering.

And there was a, there was a part of me. Whenever you just read the first page, you're like, this is a different book. That was the first thing. I'm like, I'm not sure what's going on, but this is a different book. That was the impression I got, which again, it should be positive, it shouldn't be negative. And then to your point, it's his own frequency. It's sort of like the same thing I get with Tolkien. I don't, I don't remember like how long it took for him to come up with, you know, Lord of the Rings universe, but it was like,

we're talking more than decade. There are some experts out there who know all the details, but like, you can just, you can feel it. And it doesn't mean that it has to be complex.

It's not a question of, now we spend a long time, but it's more like, I'm going to say, I'm going to, I'm going to clone something you. Actually, I'm just going to quote you,

William, because you say, you say everything much better than me. But I've heard you say that whenever you, you're really distilled, for example, the book reads of eyes are happier,

it was like you took those truth and then a party was thinking but that's so simple like it almost seems by now that it's so simple but it's such a deep truth at the same time and I think that's such an important concept whenever you you start a caro and you're like did this dude only covered Johnson you're like that's that's not at all what it's all about you know and you can feel it So I won't go back on to you, William. You'll be able to articulate it much, much better than what I just did. Well, I mean, think of that line from Gottlieb, the great editor, who among other things edited Catch 22. And it originally was called Catch 18.

But someone wrote a book called Meila 18. So then one night, Gottlieb phones Philip Roth and says, I've got it. It should be Catch 22. That's even funnier than 18. And so, you know, he was this amazing editor. And think of that line from him where he just said, everything is of total importance. The first chapter and the semicolon are worth fighting a civil war over. So it's a sense that everything matters. So every action, every thought, every word,

every intention matters. And it has an impact and it has a particular calibration and it has an effect on the people around you. And so at one level, we're all nothing, right? We're just ashes and dust. We'll be gone in a moment. And on another level, we're everything and we affect enormous numbers of people and we can have a huge impact on people. And both of those things simultaneously are true, I think. And so I think you just have to decide with your investing, with your family, with your relationships, with your creative work, whatever it is, where do I want to align myself?

Do I want to align myself with the ephemeral and the selfish? and the self-seeking and, you know, the destructive, or, you know, that's all just going to perish, it's all just going to be gone. Or do I want to try to connect to something that's a little bit more timeless and permanent, like these values, like integrity, love, kindness, compassion, all these things that make you go strong? And I think there's a reason why Berkshire has endured and grown. Look at what Nick Sleep said to me, where he said, I believe that good things grow. And so in some sense, you know, you said earlier on, and I'll leave you with this, thought, you said, well, I don't think I'm spiritual. It's like, it's all spiritual stick. It's all like,

it's anything, you know, all of these values of trying to share knowledge, trying to figure out how to live more wisely, trying to be a kind and decent employer, trying to be a kind and decent, you know, son or husband or whatever. It's all treating things as if they're of total importance and being aware that the intention you put into them, despite all of our failings and all of our mistakes and all of that, you know, that it matters. And so I think Buffett, in quoting, without saying why he's quoting it, the phrase, turn every page, is pointing us towards something, a kind of a focus on quality, a focus on responsibility, a focus on perseverance, a focus on building something through a painstaking, deep appreciation of quality.

And so I think that leaves us with a sense that, you know, in whatever way, we can, we should try to shift the balance in the same way that Warren has. We're not Warren, but we each have our own way in which we can shift the balance. So that would be my parting, my parting thought. I hope that's vaguely helpful. I think it's helpful. If I can accommodate you, I would say Joseph Campbell and the modern myth. I think it's all in the same. And perhaps Buffett and Munger would be the first to say that they don't have that channel open, but I want to say it's all in the same, even though we might call it different things. Yeah, you know, it's all pointing at quality and things that endure, these values that endure,

you build a company based on integrity and, you know, even just look at the fact that Buffett made the announcement so that we all as shareholders got the news at the same time as Greg Abel. He's telling you something in behaving that way. He's telling you, you are my partners. and I'm not going to keep you in the dark and treat you like second-class citizens. And so that's such a small gesture, but it's kind of everything. I think that's the best way we can end the conversation, William. Thank you, as always, for enriching these conversations. Any concruly remarks here before we end the episode?

No, it's been a total delight chatting with you. And I always start with a sense of like, we're not going to have anything to say. And then I'm always shocked that we can't stop talking. So anyone who's made it to this stage of the podcast, you know, you deserve some sort of gold medal. Well said. All right. Thank you, William. Thanks.

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