In this episode we’ll cover the amazing story of how Bill Benter made over a billion dollars from betting on horse races. Charlie Munger has often talked about horse race betting as a mental model for how the stock market works. We’ll also cover the importance of having a circle of competence in investing, and why Charlie Munger recommends investing in companies with a high return on equity.

Charlie’s speech “Art of Stockpicking”:

http://www.grahamanddoddsville.net/wordpress/Files/Gurus/Charlie%20Munger/Charlie%20Munger%20_%20Art%20of%20Stock%20Picking.pdf

Bill Benter story sources:

https://www.paulickreport.com/horseplayers-category/wagering-algorithms-and-the-ghost-of-the-unclaimed-118-million/

https://www.youtube.com/watch?v=4B0mGYZqElo

https://en.wikipedia.org/wiki/Bill_Benter

Podcast website:

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Disclaimer:

This podcast is for entertainment purposes only and should not be relied upon as the basis for investment decisions. Before making any decisions, consult a professional. I may maintain positions in the securities discussed on this podcast. This show is copyrighted by the Wall Street Vision, written permission must be granted before syndication or rebroadcasting.