YouSaid · the spoken record

Zack Oliva

lines on the record: 57
first: 2022-04-03
most recent: 2022-04-03
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“So, first, I thought that was a fantastic interview with Ian. He really seems like a smart investor. I don't know him, but I was really impressed with that interview and the community that he's built. But it took me a bit to learn about Buffett's early partnerships and to really have that.”
2022-04-03 · We Study Billionaires · TIP436: Is the Buffett Partnership Strategy Still Applicable Today? W/ Zack Oliva · IDENTIFIED FROM THE TRANSCRIPT
“But I don't know if there's a lot of causes. And it seems to me like the economists also can't get it right, at least half the time. So I'm really not in the business of making any of those macro predictions because I've just figured out it's a game that I don't think I can win.”
2022-04-03 · We Study Billionaires · TIP436: Is the Buffett Partnership Strategy Still Applicable Today? W/ Zack Oliva · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, you know, you brought up one of the big ones, which is obviously analysis and synthesis. I think probably analyzing risk is a big one because as a lawyer, you're training your brain to poke holes in a lot of things kind of was a difficult learning curve for me investing in gram style net nets because there's something wrong with a lot of these businesses, right? But I think another big thing that it taught me was The difference between causation and quarrel. I think that was a very beneficial lesson that those two things, there may be correlations between things, but that doesn't necessarily mean that they're a direct cause or approximate cause of that event. And so that's allowed me to really Almost forget about the macro side and a lot of it because there's a lot of correlations.”
2022-04-03 · We Study Billionaires · TIP436: Is the Buffett Partnership Strategy Still Applicable Today? W/ Zack Oliva · IDENTIFIED FROM THE TRANSCRIPT
“And there was a lot of that in studying Warren Buffett. The guy worked his tail off and still continues to do so. So I couldn't imagine a better kind of mental model to have, especially when you're young.”
2022-04-03 · We Study Billionaires · TIP436: Is the Buffett Partnership Strategy Still Applicable Today? W/ Zack Oliva · IDENTIFIED FROM THE TRANSCRIPT
“Contra fund. And what's interesting about that is I didn't realize the significance of this until a few months ago I was reading an article, I think it might have been in Barron's, and they named Fidelity Contrafund as one of the top mutual funds ever. And Contra means contrarian. So the entire mutual fund was, you know, of course, revolved around investing in out-of-favor stocks and out of favor industry. I was happy when I learned that, you know, that my dad had those great successes. And I would say the biggest impact that it had on my career was it made making money fun. I could talk to people about it. There was kind of a context for it. And it was okay to make a lot of money. And it was kind of an attitude. And, you know, you're from the Midwest, Ray. So there's kind of that, you know, get up and work hard work ethic.”
2022-04-03 · We Study Billionaires · TIP436: Is the Buffett Partnership Strategy Still Applicable Today? W/ Zack Oliva · IDENTIFIED FROM THE TRANSCRIPT
“Provided a great life for us. So it was a great kind of model for what can happen when you're smart with your money. So really for as long as I could remember, Warren Buffett says this and Warren Buffett says that has been part of my mental tape in my head for as long as I could remember whenever the phone would ring after dinner, my mom would say, Paul, your uncle Roger, and then she would say, all right, boys, they're going to talk about stocks for the rest of the night. And then I would watch my dad write down these little tickers on a piece of paper, and then him and I would look them up in the newspaper. And it was kind of, you know, I didn't, again, I was so young, but it was a fun thing to do. And I remember I was thinking about this the other day. There were three kind of big parts in my dad's investing life. I think it was when BlackBerry became a multi-bagger. And I remember his reaction when that happened, which was total disbelief. When Berkshire created the B shares, and when he found fidelity.”
2022-04-03 · We Study Billionaires · TIP436: Is the Buffett Partnership Strategy Still Applicable Today? W/ Zack Oliva · IDENTIFIED FROM THE TRANSCRIPT
“The earliest memory actually is I had to Google it 1996, so I was 11, and that's when the B shares came out for Berkshire Hathaway. And my dad was really excited about that, I remember. I obviously didn't have a lot of context about why this was a huge thing or whatever. But, you know, in my house, we spoke about spending, saving, investing a lot. And my dad actually gave me some B shares when I graduated college as a gift. And I still have those. And, you know, they perform great, which is amazing. But my parents grew up relatively poor. I mean, my mom used to make her own clothes in high school. My dad's first car he had to put in applywood floor because there was no floor, kind of like the Flintstones. And they both worked hard. They went to college. They saved and invested well. They were both public employees.”
2022-04-03 · We Study Billionaires · TIP436: Is the Buffett Partnership Strategy Still Applicable Today? W/ Zack Oliva · IDENTIFIED FROM THE TRANSCRIPT