RWH013: Move Slow, Win Big W/ Thomas Russo

<p><strong>IN THIS EPISODE, YOU’LL LEARN:</strong></p><ul><li>02:17 - What Tom Russo learned from a life-changing encounter with Warren Buffett in 1982.</li><li>09:53 - Why “agency” cost is one of the greatest risks facing all investors.</li><li>14:02 - Why Tom favors companies that willingly endure pain today for gain tomorrow.</li><li>16:02 - How he rode Berkshire Hathaway from $900 to more than $430,000 per share.</li><li>21:08 - Why Buffett’s team of successors should do fine when Berkshire is in their hands.</li><li>27:17 - What Tom learned while working for investment legend Bill Ruane.</li><li>38:16 - Why Tom immediately sold Wells Fargo &amp; Altria after realizing they’d lost their way.</li><li>48:46 - Why Tom loves brands where consumers believe there’s “no adequate substitute.”</li><li>53:39 - Why Tom is bullish about Heineken’s long-term future, even after owning it for 36 years.</li><li>01:07:08 - How Tom succeeds by resisting short-term temptations &amp; deferring gratification.</li><li>01:16:09 - What Tom failed to understand about Alibaba &amp; the political risks of investing in China.</li><li>01:23:11 - How Tom thinks about moral questions like whether it’s okay to own tobacco stocks.</li><li>01:25:51 - How innovators like Nestlé &amp; Heineken are helping to combat climate change.</li><li>01:35:13 - How Tom’s investment success is fueled by his insatiable curiosity.</li><li>01:37:41 - What Tom learned from Charlie Munger about the importance of trusting your gut.</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>Thomas Russo’s 2018 Google Talk on “<a href="https://www.youtube.com/watch?v=IzEvI1HOwN8" rel="noopener noreferrer" target="_blank"><strong>Global Value Investing</strong></a>.”</li><li>Warren Buffett discusses <a href="https://www.youtube.com/watch?v=MtYSQVnce4g" rel="noopener noreferrer" target="_blank"><strong>Bill Ruane</strong></a><stron