We talk about managing family fortunes with an infinite investment horizon.

It’s a Fireside with the host today; Christian Billinger is asking questions, and I’m answering. You need to look up earlier editions with Matt Zeigler, who started this new Talking Billions tradition, and Mattew Stafford. I’ll also mention that the next Fireside chat will be hosted by none other than John Rotonti, who recently gave the Ultimate Stockpicking Masterclass on Talking Billions. John and Matt have their podcast — please look them up as well, I could listen to both all day any day.

Christian and I attended the same investor event in Zurich last summer, John Mihaljevic’s MOI Global. We met again in Omaha days before the Berkshire Hathaway meeting, and shared a beverage, and a great conversation.

I highly recommend Christian’s earlier episode on Talking Billions, where he shares how he invests.

Christian Billinger has invested in European equities for close to 20 years, and more recently for his own investment company, Billinger Forvaltning.

His investment philosophy is focused on owning a small number of great businesses for the long run, and the structure of a private investment company is, in his view, the ideal environment for pursuing this style of investing.

For more information:

https://www.billingerforvaltning.se

Today, we turn the tables, and Christian has some terrific questions that I’m sure you’ll appreciate and enjoy.

We talk about the valuable opportunities that attending conferences and events in the investment industry provides for learning from others, building relationships, and expanding one's understanding of various investment approaches.

We discuss the distinction between large institutional managers who focus on sales and product-driven strategies and smaller independent thinkers who prioritize relationship-building and personalized services for clients.

We share insights on building relationships with clients in the investment industry, emphasizing that it is a long-term commitment requiring trust, care, and an understanding of their unique needs and goals.

We highlight that independence and innovation are crucial in creating a successful and fulfilling investment practice. Time and attention are valuable assets for investors and business owners.

I share how wealth preservation is as important as wealth creation, and it requires careful decision-making and risk management.

Christian asks me about my writing, and why I find it helpful in my investment practice.

We have a thoughtful discussion about potential new clients, how the right match between a money manager and a client matters.

We take on benchmarks and discuss the importance of fundamentals in stock analysis.

Stay tuned until the end, when we talk about dealing with underperformance and managing money. Podcast Program – Disclosure Statement

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

It’s Sunday. On weekends, I usually put the finishing touches on the upcoming episode. I won’t say what it is; I’ll let it be a surprise, but it’s a really special conversation that made me think—you’ll find out tomorrow.

As I was recording the episode's intro, it dawned on me that it might be a good time to record this bonus episode.

It’s been on my mind for a while to share with you what I’m reading. Of course, I read books, newsletters, shareholder letters, articles, and more produced by my upcoming guests, but I also read beyond that. With certain persistence, luck, synchronicity, and serendipity, some of those reads will lead to new guest invitations and episodes.

This week I want to share with you my thoughts on the The Book of Charlie: Wisdom from the Remarkable American Life of a 109-Year-Old Man Book by David Von Drehle. I already lined up his other books for future reading.

I’ll start with the writing style; I just love the way the author writes. It reminds me of how my brain works and how I like to collect information and learn.

I picture an ever wider embrace; your arms go out to the sides, and you catch as much as possible, more than you thought.

The spark of curiosity that starts with a singular bit of information, one idea, takes me on a wide and long-ranging journey. I return like an avid traveler with pockets, backpacks, duffels, and suitcases of memories, ideas, images, and observations—the heavier, the better.

That’s the image I have in mind, and the author delivers on that front more than any other right in can think of right this minute.

He tells the true story of a neighbor he meets, a centenarian, Charlie White, who lives in Kansas City. He tells the story in a very unique way. We learn not only about Charlie’s eventful, rich, challenging, and inspiring life but also about the big and small historical backdrop of the life he lived in a century that took us from horse carriages and early radio to space travel, social media, and video calls, and more. Charlie was a doctor and physician, and his profession has undergone an equal, if not bigger, transformation than the world around him.

As a licensed pilot myself, I love open skies. Therefore, I had to appreciate the brief but important story of Charlie’s marriage to a famous woman pilot, a legendary aviator who grew up with Amelia Earhart’s accomplishments in the sky and lived a dream of her own.

The author mentions Walt Disney, Ernest Hemingway, President Truman, and other historical figures whose paths crossed or overlapped with Charlie's.

Without giving too much away, I’ll tell you that you’ll meet the prohibition-era gangsters, and you’ll head out on an expedition to the Amazonian jungle.

Beyond the story of one person, Charlie White, we learn about what it takes to live a good life, and David Von Drehle dives into psychology, philosophy, and science that propose an interpretation, explanation, and maybe even a blueprint for a life well lived.

I’ll drop a hint here that perseverance, optimism, and ingenuity can help as much as turning challenges and life’s dead ends into opportunities and new vistas.

There aren’t many books I can’t put down for a few days until I’m done; this one was such a book.

If anything of what you just heard resonated with you, don’t hesitate to pick up the book and send me an email sharing your thoughts. I don’t know the author, but I’d love to meet him; I don’t get anything in return for sharing my thoughts here; if you get the book, consider it a good friend’s reading recommendation.

It’s just the opinion of one curious reader who couldn’t keep it to himself, what an incredible read it was.

I was so moved by the book that on this beautiful Sunday, I felt compelled to share it with you.

Have a lovely afternoon, and tune in tomorrow for the regular Talking Billions episode.

NOT INVESTMENT ADVICE. Full disclosure: https://www.talkingbillions.co/