Two years ago, Wyndham Clark's dad Randall had open-heart surgery that "put a lot of things in perspective."
Randall Clark surprised his son on the 18th green Sunday as he became a two-time U.S. Open champion ❤️
🚨NEW EP with @BeckyQuick:
“Invest early, do it often, & let it ride, and don't worry about what's happening. To me, our job at @CNBC is to educate people about what happens when you have the law of compound interest working for you.”
What a joy to catch up with my dear friend Becky Quick on the latest episode of The Master Investor Podcast – anchor of @SquawkCNBC & a true titan of business journalism. We covered US-Iran peace deal; @SpaceX IPO; lessons from Buffett; @ElonMusk vs Warren Buffett; the beauty of the purity of markets; & her inspirational #CNBCCures.
WHAT IS BUFFETT’S GENIUS?: “Patience. He & Charlie Munger have repeatedly said one of the things they're best at doing is nothing. There are a lot of people who feel like they have to act because the markets are going up & up & they have FOMO. Warren’s never had FOMO.”
MUSK v BUFFETT: “Charlie Munger & Warren Buffet have both told me individually they might not buy the stock [SpaceX] but they would never bet against Elon Musk because it is a pretty risky proposition to do so.”
TRUMP IRAN DEAL: “I don't know that he is nearly as focused on the midterms as most of the other elected officials in the Republican party…I think he's probably more focused on getting things done & I think he sees Iran as a particular issue that he would like to be able to say that he's brought peace there or at least cleared Iran from having the ability to have nuclear weapons. I think he probably takes that more seriously than winning the midterms.”
CNBC CURES: “The idea that you're just trying to figure this out & nobody understands what you're going through. And you start to realise that if you can do something to help you should. And that was the genesis of CNBC Cures to figure out how do we connect some of these groups so that they can learn from each other and then use CNBC's platform to make sure we're getting in front of the legislators, the regulators and the investors.”
Timestamps:
0:00 Intro
3:00 US-Iran peace deal
5:57 Iran over Mid-Terms for Trump
8:09 Buffett - don’t bet against Elon Musk
9:45 Déjà vu of late 1990s?
12:40 CNBC’s role – financial education
16:50 21 Years of Squawk Box
20:07 Purity of the markets
22:16 Lessons from Warren Buffett
26:05 Buffett’s secret – patience
30:07 CNBC Cures
40:20 Loneliness of rare disease
44:48 Investing, career and life advice
What is @BeckyQuick’s goal each day at @CNBC?
“Our job is to educate people about what happens when you have the law of compound interest working for you.”
Find full ep below or here:
YT: https://t.co/AhMy0Cc48v
Apple: https://t.co/Hc9ZkmdgrT
Spotify: https://t.co/Te7QaznDmG
Happy Birthday to the 45th and 47th President of the United States, Donald J. Trump. A relentless patriot who fights every day for the country he loves, the people he serves, and the American Dream. 🇺🇸🇺🇸
.@BernieSanders , it is a time to celebrate. @elonmusk has created enormous value for society by building @SpaceX, driving down the cost of rocket launches and creating a global satellite communication network that has brought high speed, low-cost internet and communication access to hundreds of millions and eventually billions of people along with critical advantages for our military and our nation’s defense.
SpaceX and its technologies will cause an acceleration in the growth of wages and wealth creation globally, including in some of the poorest communities in the U.S. and around the world.
Access to low-cost, high speed communications everywhere will allow children around the world to be educated, families to build businesses, and life-saving medical knowledge and care to be available everywhere.
SpaceX will materially bring down the cost of compute, advancing AI and humanity.
Meanwhile, 4,000 SpaceX employees yesterday became millionaires, including hourly wage employees who you claim you are trying to help.
The Elon Musks of the world drive growth, global GDP, and provide access to goods and services at lower cost that would otherwise not exist.
Elon’s nominal trillionaire status is due to his ownership of SpaceX, Tesla, Neuralink, the Boring Company and his other initiatives that have brought new technologies that improve our everyday lives.
Elon is not sitting on a trillion dollar pile of cash, jewelry and gold. He is using his controlling stakes in his companies to advance mankind. Elon’s companies don’t pay dividends. They reinvest all of their capital to accelerate innovation and value creation.
Elon is working 24/7 for all of us. He deserves respect and appreciation, not smears.
Bernie, your socialism would never allow a SpaceX to be built. Socialism has only proven to impoverish mankind and lead to death and destruction.
We need to create the conditions for more SpaceXs to be built, not attack the great entrepreneurs who are helping to advance our country.
At 940 pages, Warren Buffett’s collected shareholder letters sound like homework. Instead, they’re a surprisingly rich read: funny, instructive and full of lessons that go beyond investing. https://t.co/FLwsYrf4z8
▶️️️#Économie : “la France est plus pauvre que le Mississippi” (Washington Post)
« Il y a un double décrochage : l’Europe décroche par rapport aux Etats-Unis, et la France décroche au sein de la zone euro de façon spectaculaire. »
@FLenglet#24hPujadas#LCI#Europe#France⤵️
Ken Griffin, founder of Citadel, has a $10 plaque behind his desk that reads: "If we're all going to eat, someone has to sell."
Of all the things this man could surround himself with, he chose a cheap plaque with a blunt truth about business.
"You're always selling. You're selling to candidates. You're selling to vendors, you're selling to counterparties, you're selling to customers."
And if you're always selling, you know what you're going to hear a lot of?
"No."
Griffin doesn't sugarcoat it. He tells two stories that illustrate just how brutal rejection can be.
1994 was a rough year, with Citadel losing ~4% of its capital. Griffin flew to Switzerland for a crucial lunch meeting, sat down, and his guest arrived only to say:
"Oh, I thought you were John Griffin from Fen Church. I got to go."
His lunch date got up and left the table.
Later that afternoon, a Swiss banker spent 45 minutes with him in a beautiful office, smoking a cigar, before closing with:
"Such a pity that such a bright young man picked the wrong career."
Two rejections in one day for the founder of one of the most successful hedge funds in history — and his takeaway was simply this:
"You just have to tolerate. You're going to hear no a lot, but you need to become accustomed to having to market your ideas and market what you represent and what you stand for."
Absorbing rejection and continuing anyway is the actual skill, whether you're hiring, raising capital, or winning customers.
Most people avoid selling because they're afraid of no. The ones who build great things have learned to expect it.
🚨 WOW! Retired professional golfer Gary Player just gave an INCREDIBLE endorsement of President Trump in the Oval Office
"I've been around almost every president for the last 65 YEARS — and I've NEVER seen a president who loves this country as much!"
"I've never seen a president who loves the country as much as you do — and I say thank you, because I've traveled more miles than any human being before without being repetitive and I've never seen a country like this."
"To Mr. Kennedy, who I have absolute utmost respect for...I always talk about the importance of fitness...to eat properly, this is so important, what you put in your body."
"And the big thing that I wish, and I pray every day, and wherever I talk, and I do a lot of talking—I say to the young people, just love this country, because you don't realize what's going on around the world. Even the students of the great universities of America really don't understand what's happening around the world today."
"There is a silent war taking place against America today, and what we've got to do is make these kids realize that freedom and exercise and education start reading some books."
"Listen to what Mr. Kennedy has said: what you put in your body is so important. What a wonderful job he's done and all your cabinet members, of which I say — thank you for maintaining this great word, this cherished word, freedom!"