William Green speaks with Fred Martin, the lead portfolio manager at Disciplined Growth Investors. Here, at age 76, he looks back on half a century as a hugely successful investor & shares hard-earned lessons on how to survive & thrive over the long haul by mitigating risks & respecting the fundamental laws of investing. IN THIS EPISODE, YOU’LL LEARN: 00:00:00 - Intro 00:06:48 - What Fred Martin discovered about mitigating risk as a Navy officer in the Vietnam War. 00:11:14 - How he handles the pain & discomfort of difficult periods in the stock market. 00:30:12 - Why he thinks Tesla’s stock is overvalued & what he thinks it’s really worth. 00:33:54 - Why it’s critical for investors to be skeptics who never let down their guard. 00:39:01 - What insights he drew from studying Benjamin Graham & writing a book about him. 00:47:34 - How Fred applies a consistent three-step process to every business he analyzes. 00:51:01 - How to win as an investor by waiting for intrinsic value & the stock price to “true up.” 00:59:45 - Why he regards a legendary free soloist climber as the world’s greatest risk manager. 01:10:14 - How flying planes has helped Fred to refine his understanding of the margin of safety. 01:15:01 - Why he’s given three younger colleagues the authority to veto his stock picks. 01:20:10 - Why he “seals the exits” before buying a stock, assuming that he’ll own it forever. 01:31:45 - Why fund managers should sacrifice their own interests for the sake of their clients.  01:35:45 - What advice he’d give to people who are looking to hire an investment adviser. 01:40:34 - Why he believes that relationships & purpose are the two most important things in life. 01:44:47 - What he’s done to build good health so that he’s still going strong at age 76. 01:46:37 - How his religious faith has made him a better investor & a better steward of assets. 01:51:43 - What he’s learned about how to endure sorrow & tragedy. 🤝 Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig and the other community members: https://theinvestorspodcast.com/mastermind 💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ ▶️ RELATED EPISODE: - Investing for Growth & Lessons from Terry Smith: The Warren Buffett of Britain: https://youtu.be/rc9EiTNlEmo 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/richer-wiser-happier/the-disciplined-growth-investor-w-fred-martin/ 📖  BOOKS MENTIONED: - Benjamin Graham and the Power of Growth Stocks by Fred Martin: https://amzn.to/3vxOYY9 - The Psychology of Money by Jim Ware: https://amzn.to/3ifpnQz Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 💡 OTHER RESOURCES - Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a 14-day free trial: https://www.sahg6dtr.com/59QC8Z/R74QP/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙  On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life. 🌍 Website: https://www.theinvestorspodcast.com/richer-wiser-happier/  ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ 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.