Stig Brodersen speaks with David Fagan, a successful entrepreneur and investor, about the powerful overlap between building businesses and investing in public markets. What you'll learn here: 00:00:00 - Intro 00:01:00 - Why some business owners often become better investors through firsthand experience with risk, volatility, and capital allocation 00:14:09 - The blind spots business owners have when they enter the world of investing 00:23:48 - Why you might shift your attitude toward dividends after experiencing firsthand how brutal capitalism is 00:29:45 - David shares the daily habits that help him stay grounded, including exercise, reading, and reflection 00:37:25 - A different take on “you are the average of the five people you spend the most time with”—and the tradeoffs of seeking higher-caliber peers 00:53:22 - Why financial independence raises deeper questions about purpose, relationships, and long-term alignment in life and work 01:03:30 - When (and how) to go into business with friends: lessons from real stories about incentives, equity splits, and mutual expectations Transcript & Guest Info: https://www.theinvestorspodcast.com/episodes/invest-like-a-business-owner-w-david-fagan/ 🤝 Join like-minded value investors this October in NYC by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 💎 Explore a new business weekly and decide if it deserves a spot in your portfolio. https://www.theinvestorspodcast.com/intrinsic-value-podcast/ ▶️ Related Episodes: - Warren Buffett's Recommended Book: The 10 Commandments Of Business Failure w/ David Fagan: https://youtu.be/QCRuETrqEtQ - How Smart Investors Limit Risk: Seth Klarman’s Margin of Safety w/ Kyle Grieve: https://youtu.be/UJr8O_GHAKA - The Art of Execution | Cut your Losers & Run your Winners w/ Clay Finck: https://youtu.be/S1yl-aZFF_o 📖 Book Mentioned: - The Intelligent Investor by Benjamin Graham: https://amzn.to/45cZ3ef - Co‑Intelligence by Ethan Mollick: https://amzn.to/4oig9Aj - The Empire of Business by Andrew Carnegie: https://amzn.to/4mphRxY - When: The Scientific Secrets of Perfect Timing by Daniel H. Pink: https://amzn.to/46EBWf3 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP Visit our website: https://www.theinvestorspodcast.com/we-study-billionaires/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #EntrepreneurInvesting #BusinessOwners #DividendInvesting #FinancialIndependenceJourney #InvestingMindset