Nevada's Frugal Pension Manager
Share
Sam Parr shares a story about a highly effective but humble Nevada state pension fund manager.
"There was this story about how Nevada's pension plan for government workers had one of the best returns. It was basically just one dorky guy, and he's pretty much just like Warren Buffett. He has all this money and he would just sit in this office. But unlike Warren Buffett, he's getting paid by the state.
He would make a nice amount of money a year but he would bring brown paper bag lunch and just drove a '95. He was like 'Look, I'm on the taxpayer's dime.' He was a fiduciary of fiduciaries where he was like 'I don't waste taxpayer money.'
Because of that approach, he read all this stuff, very rarely made big bets, but when he did make bets, it would crush it. These guys making these decisions are just government workers in a way, but they're basically mini Warren Buffetts."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.