In this episode, William Green chats with Samantha McLemore, the founder of Patient Capital Management. After graduating magna cum laude from Washington & Lee University, she was hired by investing legend Bill Miller & spent 20 years working with him. They co-managed Miller Opportunity Trust, a top-performing mutual fund, for a decade until Bill recently retired & anointed her as his successor. Here, Samantha shares what she’s learned over the last two decades about how to outperform by thinking differently & developing a behavioral edge.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro03:09 - How Samantha McLemore & Bill Miller met while she was an undergraduate.09:53 - How an insurance settlement from a dog bite sparked her interest in investing.16:55 - What it was like being with Bill as the market crashed after 9/11.24:32 - Why Samantha & Bill love to invest during times of fear, pessimism, & panic.27:43 - Why Bill & Samantha are betting on Bitcoin despite Warren Buffett’s skepticism.41:52 - What Samantha looks for when investing in early-stage companies.45:48 - Why it’s rational to be a long-term bull about US stocks.50:31 - Why it’s critical to focus on valuation, regardless of how good a company may be.57:44 - What she’s learned from spending time with Amazon founder Jeff Bezos.01:12:19 - How the global financial crisis almost led her to quit the investment business.01:20:14 - What’s helped her to handle the stress of being a money manager.01:41:22 - How Samantha invests her own money.01:42:16 - How she manages her time as a fund manager & mother of three young kids.01:45:54 - What Peter Lynch said about the necessity of always being “in overdrive.”01:47:49 - Why Samantha likes to invest in companies run by women.01:56:37 - How Fidelity’s female customers outperformed male customers by trading less.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESSamantha McLemore’s investment firm, Patient Capital Management.Samantha McLemore’s Opportunity Trust mutual fund.Listen to William Green’s podcast interview with Daniel Goleman & Tsoknyi Rinpoche or watch the video here.Listen to William Green’s podcast interview with Arnold Van Den Berg or watch the video here.Website with information about Neuro Emotional Technique (NET).“Thoughts of a Philosophical Fighter Pilot” by Jim Stockdale.“The Mindful Self-Compassion Workbook” by Kristin Neff & Christopher Germer.William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Learn how to better start, manage, and grow your business with the best business podcasts. P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSHave peace of mind knowing River holds Bitcoin in multi-sig cold storage with 100% full reserves.If you’re aware you need to improve your bitcoin security but have been putting it off, Unchained Capital's Concierge Onboarding is a simple way to get started—sooner rather than later. Book your onboarding today and at checkout, get $50 off with the promo code FUNDAMENTALS.Get the professional support you need to prepare for your future career with UBC Sauder School of Business.Make connections, gain knowledge, and uplift your governance CV by becoming a member of the AICD today.Easily diversify beyond stocks and bonds, and build wealth through streamlined CRE investing with EquityMultiple.Send, spend, and receive money around the world easily with Wis