Author Topic: Sam Walton: Made In America, My Story - Sam Walton with John Huey  (Read 11490 times)

Liberty

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Re: Sam Walton: Made In America, My Story - Sam Walton with John Huey
« Reply #20 on: October 11, 2018, 06:49:02 AM »
I especially liked his rant about people complaining that they were killing off the small town mom and pop stores.  He (rightly) claimed that they offered a better experience, better merchandising, better hours, friendlier staff and lower prices - and that's what killed off other stores.  No point feeling nostalgic for operators who don't serve their customers as well.

It's something that comes up over and over again in different situations, and I think it's based on some human cognitive biases. When benefits are spread out over many kind of invisible people but downsides are concentrated on a few visible people, most people will go with what is visible and easy to create a narrative around.

You see this all the time with farmers. Free trade helps everybody who's buying food, but it hurts farmers. It's easy to create a narrative around those poor farmers, but harder to create one around millions of people having access to slightly cheaper/better/more varied food.
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longinvestor

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Re: Sam Walton: Made In America, My Story - Sam Walton with John Huey
« Reply #21 on: October 11, 2018, 11:35:42 AM »
Reading this reinforced an active switch I made to Autobiographies last year. For me at least, the right biographies are far more interesting to read as a genre than other genres. I've read Walton, Jobs, Knight, Gates, Feynman, Darwin (wip); Munger and Buffett although they are not strict bios. Couldn't put them down.

Cigarbutt

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Re: Sam Walton: Made In America, My Story - Sam Walton with John Huey
« Reply #22 on: January 25, 2019, 07:31:36 AM »
This book (story) was worth reading on many levels: how to build and maintain moat, value of competition, entrepreneurial culture, independent thought etc


DW

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Re: Sam Walton: Made In America, My Story - Sam Walton with John Huey
« Reply #23 on: January 27, 2019, 12:49:26 PM »
Reading this reinforced an active switch I made to Autobiographies last year. For me at least, the right biographies are far more interesting to read as a genre than other genres. I've read Walton, Jobs, Knight, Gates, Feynman, Darwin (wip); Munger and Buffett although they are not strict bios. Couldn't put them down.

I agree. I couldnít put the Walton book down either.

Which Buffett and munger books are you referring to? (Iíve reread Damn Right a couple of times...)

longinvestor

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Re: Sam Walton: Made In America, My Story - Sam Walton with John Huey
« Reply #24 on: January 28, 2019, 06:56:13 AM »
Reading this reinforced an active switch I made to Autobiographies last year. For me at least, the right biographies are far more interesting to read as a genre than other genres. I've read Walton, Jobs, Knight, Gates, Feynman, Darwin (wip); Munger and Buffett although they are not strict bios. Couldn't put them down.

I agree. I couldnít put the Walton book down either.

Which Buffett and munger books are you referring to? (Iíve reread Damn Right a couple of times...)

Buffett and Munger: Several, of which Tap Dancing / Loomis connected with me. I believe she understands the man better from the perspective that is relevant to me as an investor. Lowenstein was good as well. Others waded a bit too far into personal matters / motives for me.