Billy Rose
speaker
210 appearances
2 recordings
1 series
first heard Sep 2024
last heard Jan 2025
Billy Rose’s voice in public audio — every appearance, attributed to the second.
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Appearances
And the only way you're going to do that is have at least once a year write the plan down, okay, so that you know if it hits that number, you're going to move 25% of that grain's gone. And the law of the average is, you know, because... My bigger mission that I've always been on with crop insurance is you should be forward selling that grain, not speculative.
Just go up to your 85% or whatever level you buy. And take that money in small little chunks, to Tanner's point, small changes but small chunks so that you can average out. Now, certain guys will wait two years. I know guys that are sitting on two to three years worth of grain right now. It's scaring me. How do they feel? They're not feeling good. No, they can't.
When you actually put the carry cost and the bin cost, it adds up. But they hit it big the other way probably, so they're just telling you about that. I'm not going to tell anyone how to manage their farm, that's for sure. But you talk about... important traits, I think it's really key that you have a positive outlook.
And Tanner, you and I were talking a little this morning about Warren Buffett's partner, Charlie Munger, okay? Charlie recently died, okay? One of the wealthiest men in the world. I wanna just read something that I never knew about Charlie Munger. At 31, Charlie had lost his son, his wife, and his fortune, okay? And he had one incredibly simple idea change his life forever.
As a young man, Charlie appeared to have it all. He graduated from Harvard. He had a very sharp intellect and quick wit. He had earned widespread respect in his field. Personally, he was a devoted husband and father, growing a family and building a future. However, devastating events dramatically changed the course of his life. Charlie's marriage ended in divorce.
He lost the custody of his children shortly after his nine-year-old boy, Teddy, was diagnosed with leukemia and died. At the same time, a speculative real estate investment failed, leaving Charlie financially ruined at age 31. Around the same time, he had a routine eye operation, which was botched, and he lost his eye, his left eye. So at 31, Charlie had lost everything.
his family, his fortune, and his direction. But he refused to let tragedy define him. Life will have terrible blows, horrible blows, unfair blows. It doesn't matter, he said. His idea was to adopt a positive outlook, refusing to be a victim.
Determined to rebuild his professional life, Charlie immensed himself in the study of investing, focusing on simplicity, long-term growth, high-quality companies. He also began to reform his personal life. He remarried, started a new family, finding joy, renewed purpose, and a second chance as it happens. By the 70s, Charlie hooked up and partnered with Warren Buffett at Berkshire Hathaway.
Together, they created a global powerhouse. emphasizing discipline and patience in investing. Today, Berkshire is worth over $1 trillion. Before his death, Charlie argued that none of this would have been possible if he hadn't adopted a positive outlook. Feeling like a victim is a perfectly disastrous way to go through life. I am not a victim. I am a survivor. What a story. I never knew that.
Did you? No. Yeah. That's amazing. You just assumed he was like, you know, golden child, Harvard grad, and life was good. I thought he started wealthy. Yeah, right? Well, I mean, at 31. Donald Trump, right, started to give $30 million to start?
Maybe a little leveraged. Maybe. Maybe. Maybe.
There's lots of people that have done that. Yeah, well, and I'll be the first to tell you. I had three kids, three young boys. I actually was 33 years old. I had built a food company. I took it public. We were flying high. We overexpanded like crazy, okay? And I went home one day with my desk chair, okay, with no job. And, you know, I had a real talking to myself.
And it was like I called up my mentor. And I said, Richard, you know, here's my situation. And he's like, well, you know, pressure makes two things. Diamonds or coal. Yeah. And you're a diamond, Billy. So get after it and stop it. Go build.
No, coal's not that bad.
But, you know, those are some of those learning reflections, you know, because you had to have that resourcefulness, that confidence, the tenacity to go, you know, going from flying high to zero to rebuilding again. Now, since then, we've built, you know, an ag bank, two crop insurance companies. We've been fortunate that we were acquired by Farm Bureau Mutual, acquired by DTN.
And that's where my passion comes about. How can we help our farming friends? What can we do for you to solve a big problem?
I'm going to tell you right now, I'm no Charlie Munger, okay? But we still have a lot of pride. Well, yeah. How's that?
Yeah, so AcreShield, as you know, is about the smarter AI seed selection with protection. And as we've talked to our farming friends out there about other problems, it's like, I need to grow my yield by a lot. Not what I did the last 10 years. I need to improve that average. So we've worked with, and I take no credit here, our team has worked with the best agronomists out there.
And we've run now, this is our second year of field trials, using a proprietary blend of feeding the plant throughout its growth stage. Now, remember, I can't spell agronomy, but I can explain what our program is. It's a multi-pass of fungicide along with the biological, along with the micronutrients, all the foyers, and developing where we're going to feed that plant.
And we are seeing 30 to 40 bushel pickup versus the untreated field. Now, we're doing 10 acre- Which is crazy. Yeah, it's crazy, right? But my question, Corey, is like, yeah, but what does that cost me, right? Yeah. We, our program, and this is a program now that we've signed up hundreds of thousands of acres with.
Showing 61–80 of 210 · page 4 of 11
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