Chapter
Markel Corporation's investing strategy
49:10 - 53:35 (04:25)
Markel is an insurance company that uses profits to buy whole, industrial businesses that it plans on holding forever. A board member's job is not to micromanage the company or set grand strategy.
Clips
Markel is an insurance company that uses its insurance profits to invest in industrial businesses, similar to the Berkshire Hathaway model.
49:10 - 51:18 (02:08)
Summary
Markel is an insurance company that uses its insurance profits to invest in industrial businesses, similar to the Berkshire Hathaway model. By being a good insurer and a great investor at the same time, Markel has become an incredible company.
ChapterMarkel Corporation's investing strategy
Episode#576: Morgan Housel — The Psychology of Money, Picking the Right Game, and the $6 Million Janitor
PodcastThe Tim Ferriss Show
After being approached and asked to join the board, the narrator underwent a year of discussions and meetings before joining.
51:18 - 52:09 (00:51)
Summary
After being approached and asked to join the board, the narrator underwent a year of discussions and meetings before joining. They found that they shared similar values to their fellow board members, which ultimately made the decision to join an easy one.
ChapterMarkel Corporation's investing strategy
Episode#576: Morgan Housel — The Psychology of Money, Picking the Right Game, and the $6 Million Janitor
PodcastThe Tim Ferriss Show
A board member's job is not to micromanage or set the grand strategy for the company, it is mostly to oversee the company's management and ensure that they are doing the job right.
52:09 - 53:35 (01:25)
Summary
A board member's job is not to micromanage or set the grand strategy for the company, it is mostly to oversee the company's management and ensure that they are doing the job right.