William Green chats with John Spears, a great investor who’s spent 48 years at an iconic investment firm named Tweedy, Browne, whose illustrious clients have included Benjamin Graham & Warren Buffett. Here, he shares his time-tested insights on how to build enduring success in markets & life. IN THIS EPISODE, YOU’LL LEARN: 00:00:00 - Intro 00:00:57 - How John Spears became obsessed with investing when he was 12 years old. 00:09:52 - How skipping school to meet an investing legend set him on a path to success. 00:15:33 - How a catastrophic early investment humbled John & taught him to be more prudent. 00:25:59 - Why he focuses intensely on tracking insider buying of cheap stocks by top executives. 00:30:00 - What he learned by studying Ben Graham & teaching himself to buy cheap stocks. 00:36:12 - How Warren Buffett bought his stake in Berkshire Hathaway through Tweedy, Browne. 00:42:25 - What it was like sharing an office with another fabled investor, Walter Schloss. 00:52:21 - Why John owns high-quality compounders like Heineken & Nestle, which aren’t cheap. 00:54:30 - What empirical research has taught him about the strategies that work best over time. 01:05:53 - Why we should focus on achieving “satisfactory” returns, not shooting the lights out. 01:13:53 - Why it’s wise to avoid a lot of debt, live within your means, & keep ample cash reserves. 01:17:56 - Why we should diversify overseas, maximizing our odds of finding undervalued stocks.  01:19:50 - How John thinks about investing in foreign markets like China, the U.K., & Switzerland. 01:23:35 - Why he prefers to own a “dull old” stock like Tesco instead of something sexier & riskier.  01:32:02 - What factors have contributed to him having a happy life. 01:44:01 - How the principles he learned as a Quaker have influenced the way he lives & works. 01:58:19 - Why he regards capitalism as a powerful force for good. 🤝 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 EPISODES: - My Richness Is Life w/ Pico Iyer: https://youtu.be/4YzrAEfIQ7U - Happy, Healthy, Wealthy, & Wise w/ Arnold Van Den Berg: https://youtu.be/7tuwfK9KLB8 🎧 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/winning-the-long-game-w-john-spears/ 📖 BOOKS MENTIONED: - Security Analysis by Benjamin Graham: https://amzn.to/3G2h0Rx - The Intelligent Investor by Benjamin Graham: https://amzn.to/3hA9nZh - Richer, Wiser, Happier by William Green: https://amzn.to/3jbfXWp 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.