Clay Finck chats with Jake Taylor how an encounter with Warren Buffett changed his life, why capital allocation is so important for both businesses and investors, how Jake is positioning his portfolio in these expensive market conditions, why Berkshire Hathaway’s recent underperformance shouldn’t concern investors at all, why many growth companies are trading at valuations that are likely not sustainable, what Jake wishes he could go back and tell his 20 year old self, and much, much more! Jake Taylor is the CEO of Farnam Street Investments, author of The Rebel Allocator, one of the hosts of Value: After Hours, the host of the author interview series Five Good Questions, creator of the world’s first hikecast, and was an adjunct professor at UC Davis’s Graduate School of Management. He lives in Folsom, California with his wife and two boys where he enjoys being the second best-selling author in the house. IN THIS EPISODE, YOU’LL LEARN: 0:00:00 - Intro 0:01:02 - How an encounter with Warren Buffett changed Jake’s life 0:04:37 - Jake’s investing strategy 0:10:56 - Jake’s motivation for writing The Rebel Allocator 0:15:01 - Importance of capital allocation for businesses and investors 0:22:12 - Why growth companies are trading at valuations that are likely not sustainable 0:27:19 - How do you think about capital allocation in your portfolio? 0:30:01 - Why Berkshire Hathaway’s recent underperformance shouldn’t concern investors 0:34:08 - What do you wish you knew in your twenties? 0:54:26 - Warren Buffett-style approach in today's market with higher valuations 📌 Get your first 3 months of investment management with Titan for zero fees! https://www.titan.com/TIP ✔️ Subscribe to Millennial Investing podcast show: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM 🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/millennial-investing/investing-like-warren-buffett 📖 BOOKS MENTIONED: - The Rebel Allocator by Jacob Taylor - https://amzn.to/3dLpvBD - Deep Value by Tobias E. Carlisle - https://amzn.to/33gJhTl - The Intelligent Investor by Benjamin Graham - https://amzn.to/3oOQeDA - The Innovator's Dilemma by Clayton Christiansen - https://amzn.to/3s0Ffcb Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 ▶️ RELATED EPISODES: - MI042: Warren Buffett Value Investing w/ Gary Mishuris - https://www.theinvestorspodcast.com/millennial-investing/mi042-warren-buffett-value-investing-with-gary-mishuris-investing-podcast/ - MI072: Why Warren Buffett Might Be Wrong w/ Matthew Piepenburg - https://www.theinvestorspodcast.com/millennial-investing/mi072-why-warren-buffett-might-be-wrong-with-matthew-piepenburg/ 💡 OTHER RESOURCES - Asset Allocation Course - https://www.theinvestorspodcast.com/asset-allocation-video-course/ - Intrinsic Value Index - https://www.theinvestorspodcast.com/intrinsic-value/ - Warren Buffet Investing Course - https://www.theinvestorspodcast.com/warren-buffett-investment-strategy/ - Videos of Warren Buffet - https://www.theinvestorspodcast.com/warren-buffett-videos/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK: ₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8wOLjjwNCM5B1qFdrtTdTZ 📚 Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F9dDPFYGAHRbrWoToCe2uoU 🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8Yw_8xO2nk-RD7fhb3yktn 💸 Get introduced to the world of investing with our Millennial Investing podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F_p00VYv3psJ8rhDAGOvR5W ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ FOLLOW US ON SOCIAL MEDIA📱: 💻 Facebook: https://www.facebook.com/groups/theinvestorspodcast/ 👔 Linkedin: https://www.linkedin.com/company/the-investor's-podcast/ 🐦 Twitter: https://twitter.com/TIP_Network ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📥 Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/form-youtube-checklist/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.