Quaker roots


Tom Gayner discussed his Quaker roots and how this influence translated to his business philosophy. Growing up with Quaker principles, Gayner emphasized that everyone is considered equal in the eyes of God. This belief directly influenced his approach to business, particularly visible in his investment in Carmax. Carmax operates on the principle of fixed pricing for used cars, reflecting the Quaker ethic of fairness and equality. Gayner connected this approach to historical Quaker merchants in America, particularly in Philadelphia, who were known for their equitable business practices, such as fixed pricing. This method allowed stores like Macy's to flourish by ensuring fairness, a direct outcome of the Quaker belief in equality 1.

Quaker Roots

Tom Gayner shares how his Quaker upbringing influenced his investment decisions, drawing parallels to successful merchants like R.H. Macy and Carmax. Discover the central tenet of equality and fixed pricing that shaped his approach to business.

The Knowledge Project

The Charlie Munger Approach to Success in Life and Business — Tom Gayner (CEO of Markel)