Most people recognize the name of famous billionaires like Warren Buffett or Bill Gates, but the name Shelby Cullom Davis doesn't ring as many bells. Davis began his investing career in 1947 with $50,000. When he died in 1994, he was worth around $1 billion.

"The Davis Dynasty," written by John Rothchild, tells the story of the three generations of the Davis family who have arguably been some of the most successful investors in the history of Wall Street. "The Davis Dynasty" isn't just a book -- it's a lesson on good, albeit somewhat unexpected, investing decisions. In the following video, Motley Fool financial analysts Matt Koppenheffer and David Hanson discuss the valuable lessons to be learned from the Davis family's unique investing history. Koppenheffer discusses how Davis's concentrated portfolio of insurance stocks allowed him to gain a competitive advantage over other investors in that space. The guys also debate the difficulties in having the conviction to not sell your shares of a company when the stock's valuation creeps into "overvalued" territory.

David Hanson owns shares of American International Group. Matt Koppenheffer owns shares of American International Group. The Motley Fool recommends American International Group. The Motley Fool owns shares of American International Group and has the following options: long January 2016 $30 calls on American International Group. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.