RWH014: The Resilient Investor w/ Matthew McLennan

<p><strong>IN THIS EPISODE, YOU'LL LEARN:</strong></p><ul><li>02:36 - How Matthew McLennan grew up off the grid without electricity or hot running water.</li><li>12:56 - What he learned as a money manager at Goldman Sachs during the dotcom bubble.</li><li>15:57 - Why investors should try to emulate the patient, selective mindset of gardeners.</li><li>27:01 - How the most resilient businesses remind Matt of great wines and enduring artworks.</li><li>35:01 - Why investors need to respect the phenomenon of entropy as an ironclad law of life.</li><li>44:18 - Why investors should be wary of hot growth stocks, which are liable to fade.</li><li>46:27 - Why there’s surprising beauty in mundane businesses like bicycle brakes &amp; elevators.</li><li>57:14 - How to ask the right “splitting” questions as a way to rule out what you shouldn’t own.</li><li>1:07:07 - Why gold might be more attractive than Bitcoin as a potential hedge against chaos.&nbsp;</li><li>1:18:25 - Why it’s wise to diversify overseas, where many stocks are much cheaper than in the US.&nbsp;</li><li>1:23:33 - Why the high-flying US dollar is at risk of weakening in the years to come.&nbsp;</li><li>1:32:59 - Why Matt is wary of Chinese stocks &amp; thinks China’s ascendancy is not inevitable.&nbsp;</li><li>1:37:17 - What history can teach us about the growing risk of war between the US &amp; China.</li><li>1:38:52 - Why it’s critical to set aside time to read, reflect, &amp; distill what you’re learning.<strong>&nbsp;</strong></li></ul><p><br></p><p><em>*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.</em></p><p><br></p><p><strong>BOOKS AND RESOURCES</strong></p><ul><li>Website for <a href="https://www.firsteagle.com/" rel="noopener noreferrer" target="_blank"><strong>First Eagle Investments</strong></a><strong>.</strong></li><li>Fred Schwed’s classic book, <a href="https://www.amazon.com/Where-Are-Customers-Yachts-Street/dp/0471770892?_encoding=UTF8&amp;returnFromLogin=1&amp;linkCode=ll1&amp;tag=tipnetwor