YouSaid · the spoken record

Scott Phillips

lines on the record: 57
first: 2023-12-22
most recent: 2023-12-22
sittings or episodes: 1
sources: podcast

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“Oh, there were a number of lessons that came out of those events, I think. First of all, kind of going back to 1930, 1931, we always shared this story about how just prior to his sophomore year, his father pulled him aside and said, I can't even spend one more dollar towards your education. I can't support you. And so he was fortunate that he had an uncle who was willing to fund him returning to Yale. But once he got back to Yale a sophomore year, he was on his own. And so what he did was he decided that he was going to make it work. And he worked harder in school. He got better grades. He obtained scholarships until he was able to get those scholarships. He was working part-time. And between the part-time work and the scholarships, I covered about three quarters of what he needed to pay his tuition.”
2023-12-22 · We Study Billionaires · TIP594: Contrarian Investing & Sir John Templeton w/ Scott Phillips · IDENTIFIED FROM THE TRANSCRIPT
“You know, your religion and church. And so there was kind of this higher calling or higher presence that was supporting all of that, this kind of upward pull. So he was, you know, just to review, he was very independent. He thought for himself, he didn't really care much about what other people thought about his actions. He thought they were right. And that's the other piece that I should mention. He had a lot of self-confidence, not arrogance, but great self-confidence. He believed that what he was doing was correct. And by the time he got to Yale and went into business, that was his mindset. So those are the pieces that really kind of Informed him as an investor later, but also the last piece that I'll mention is alongside those cultural underpinnings.”
2023-12-22 · We Study Billionaires · TIP594: Contrarian Investing & Sir John Templeton w/ Scott Phillips · IDENTIFIED FROM THE TRANSCRIPT
“Of different levels as a child, he was a star student. He was a great athlete. He was well liked. But then moving alongside that, there were cultural influences too. So the big thing was, you know, at this time in America, there was a lot going on in terms of self-reliance, living the American dream. You are your thoughts. The greatest importance in Winchester, Tennessee at that time was your character, who you were as a person. My word is my bond. So that was your worth. And so that was also tied to”
2023-12-22 · We Study Billionaires · TIP594: Contrarian Investing & Sir John Templeton w/ Scott Phillips · IDENTIFIED FROM THE TRANSCRIPT
“They lived in the country. It was a rural setting. So it wasn't like a city where you would observe convention and compare yourself and say, well, we don't do it that way or make comparisons and learn through all these kind of social proofing and social conventions. They just thought for themselves and did what they wanted to do for the most part. They made a lot of mistakes along the way. But just to give you an example of how extreme this was, I mean, Sir John asked for a shotgun when he was eight. I think his mom resisted until he was 10, but he still got one. And she just thought that it was in God's hands. I mean, that was her philosophy that like he would figure it out. He would be safe. It would work out. And so he kind of had this internal mechanism, this drive to learn and to think independently without anyone ever really correcting it. And it's fascinating because it really manifested itself in really just excellence.”
2023-12-22 · We Study Billionaires · TIP594: Contrarian Investing & Sir John Templeton w/ Scott Phillips · IDENTIFIED FROM THE TRANSCRIPT
“All kinds of different things because they had to. So they saw these kind of superlative role models who were successful in the things they were doing, but they had to go figure it out for themselves. And I think that kind of paradigm, that way of going about things was a huge influence on him as a human being. And the other thing was, you know,”
2023-12-22 · We Study Billionaires · TIP594: Contrarian Investing & Sir John Templeton w/ Scott Phillips · IDENTIFIED FROM THE TRANSCRIPT
“But in different ways, she was very altruistic. She supported local charities. And so he kind of had these two people in his life that I think instructed him at a behavioral level, but they did not provide any verbal instruction to him to the extent that most parents today tightly manage their kids, what they want their kids to think, what they want them to do, what their goals should be. Sergeant and his older brother, Harvey Jr., which is Lauren's grandfather, had really no direction. They were kind of turned loose, but they had these key role models in their lives. And so they're really just kind of left to their own devices. Anything they learned, they had to go learn themselves. So Sir John always remarked that if he asked his mother a question about something, she wouldn't provide a direct answer, but a week or so later there would be a book left out on the coffee table. So he was, he and his brother were extremely independent, autodidactic. They taught themselves.”
2023-12-22 · We Study Billionaires · TIP594: Contrarian Investing & Sir John Templeton w/ Scott Phillips · IDENTIFIED FROM THE TRANSCRIPT
“Sure, Clay. Great question with lots of potential facets to explore here. I think that a big piece of it just goes back to his upbringing. His parents were both extremely interesting people, great role models. So his father was the town lawyer, but he was kind of referred to as a super entrepreneur. So very sharp and ambitious in addition to being a lawyer. He had cotton gins. He had rental properties. He sold insurance. He was just very ambitious, high energy, and focused on making money. And then his mother, by contrast, was extremely well educated for a woman at the turn of the 20th century, the early 1900s. She was college educated. She studied Greek, Latin, and mathematics. She didn't marry until she was older. She too was very enterprising.”
2023-12-22 · We Study Billionaires · TIP594: Contrarian Investing & Sir John Templeton w/ Scott Phillips · IDENTIFIED FROM THE TRANSCRIPT