Episode · Invest Like the Best · 2017-02-07
Patrick O'Shaughnessy & Joe Mansueto: books mentioned on Invest Like the Best #23
Joe Mansueto – Lessons From the Founder of Morningstar - [Invest Like the Best, EP.23]
My guest this week is Joe Mansueto, the founder, longtime CEO and current executive chairman of Morningstar, Inc. Joe is an entrepreneur at heart.
Joe Mansueto recommended The Money Masters by John Train, Grit by Angela Duckworth, Shoe Dog by Phil Knight, Titan by Ron Chernow, and The Warburgs by Ron Chernow, and discussed Walden by Henry David Thoreau and Alexander Hamilton by Ron Chernow. Patrick O'Shaughnessy recommended The Everything Store by Brad Stone, and discussed The Financier by Theodore Dreiser, Let my people go surfing by Yvon Chouinard, and The Systems Bible by John Gall.
Books mentioned, in the order they came up
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Walden
Discussed“So the name Morningstar comes from the book Walden by Thoreau. It's the last line of that book, The Sun is But a Morningstar.”
Where to get it
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The Money Masters
Recommended“And really what I discovered during this time through reading is that I got really interested in investing. And even though I studied investing at business school at Chicago, but I learned about efficient markets.”
Where to get it
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The Financier
Discussed“It reminds me of a little story I was reading yesterday on the flight here to Chicago, a novel called The Finance Here, which is a fascinating book.”
Where to get it
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Grit
Recommended“You know, there's a great book that I like, Grit by Angela Duckworth. It's a really good book. And she talks a lot about persistence as a predictor of people who've gone on to success”
Where to get it
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Shoe Dog
Recommended“So the last book I read was, was Shoe Dog by Phil Knight, which is a great, great story of Nike. And it's a very candid biography, but it's a nice reminder of how precarious it is to start a business.”
Where to get it
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Titan
Recommended“So, you know, I read a lot of biographies. Uh, I'm a big Ron Chernow fan. You know, his biographies of the Warburg family, Rockefeller, are just wonderful.”
Where to get it
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The Warburgs
Recommended“So, you know, I read a lot of biographies. Uh, I'm a big Ron Chernow fan. You know, his biographies of the Warburg family, Rockefeller, are just wonderful.”
Where to get it
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Alexander Hamilton
Discussed“And then just having seen Hamilton, the musical, I'm going to read his Hamilton biography, but you know, I try and read pretty widely, but I try and learn from others.”
Where to get it
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The Everything Store
Recommended“You mentioned shoe dog, um, which makes me think of the everything store, which is about Amazon. Uh, that's a great book too.”
Where to get it
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Let my people go surfing
Discussed“And, uh, let my people go surfing, which is about Yvon Chouinard and, um, and Patagonia.”
Where to get it
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The Systems Bible
Discussed“I just finished a book called The Systems Bible, which actually is, contrary to the way its title sounds, all about why you should keep away from systems as much as possible, because new systems create new problems.”
Where to get it
Other mentions in this episode (1) — ad reads, self-promotion and passing references, never counted
Passing Walden
“And I'm curious how. So going from from the time where you were reading the book on the quad, and then you graduate school, and the period before Morningstar”