We Study Billionaires - The Investors Podcast

IN THIS EPISODE, YOU’LL LEARN: 02:17 - What Tom Russo learned from a life-changing encounter with Warren Buffett in 1982. 09:53 - Why “agency” cost is one of the greatest risks facing all investors. 14:02 - Why Tom favors companies that willingly endure pain today for gain tomorrow. 16:02 - How he rode Berkshire Hathaway from $900 to more than $430,000 per share. 21:08 - Why Buffett’s team of successors should do fine when Berkshire is in their hands. 27:17 - What Tom learned while working for investment legend Bill Ruane. 38:16 - Why Tom immediately sold Wells Fargo & Altria after realizing they’d lost their way. 48:46 - Why Tom loves brands where consumers believe there’s “no adequate substitute.” 53:39 - Why Tom is bullish about Heineken’s long-term future, even after owning it for 36 years. 01:07:08 - How Tom succeeds by resisting short-term temptations & deferring gratification. 01:16:09 - What Tom failed to understand about Alibaba & the political risks of investing in China. 01:23:11 - How