30: Sir Chris Hohn. Billionaire Hedge Fund Manager and Philanthropist

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 11 March 2021

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode we have the rare opportunity to talk to Sir Chris Hohn, founder of TCI, one of the world’s most successful hedge funds and benefactor of the $6 billion children’s charity (CIFF) and now agitator against corporations who are failing to properly address their climate change transition plans.

The conversation starts with an insight into Chris’s upbringing, the sharpened appetite he believes accompanied being a child of immigrants, his journey from school to Harvard Business School and then to the world of investing, first in private equity and then to public equity markets.

He discusses key mentors as he was learning the investment business, his early experience investing before launching The Children’s Investment Fund and its evolving investment approach. Chris talks of the work undertaken at his charity (CIFF) which highlighted to him the impact climate change was having on poverty, child destitution and destruction of the planet.

This evidence has driven Chris to the creation of “Say on Climate” (www.sayonclimate.org ) given that companies are responsible for 35% of global emissions, yet typically lack climate transition plans. Chris identifies the corporate behaviours that need addressing most urgently, what corporations must do the effect proper change, and the potential consequences of inaction. He describes the Say on Climate AGM resolution which requires annual disclosure of emissions, the plan to manage them, and how they will be judged going forward.

Chris talks about the dangers of passive investing with regard to this issue, the global variations in response, and the environmental downsides of bitcoin euphoria.

Finally, he talks about the examples set by Bill Gates and Warren Buffett, lessons for those early in their careers, and sound advice involving following your passion and thinking about who you want to become.

Transcript

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0:00.0	Welcome to the Money Maze podcast. I'm Simon Brewer and Will Campion and I have created this show to explore and unravel some of the mysteries surrounding the investment business.
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1:01.0	We're delighted that Vermont will be sponsoring the Moneymay's podcast throughout this year.
1:06.6	Vermont is an award-winning British company that produces beautifully engineered chronometers,
1:12.0	designed to appeal to those who share the passion and appreciation of the innovation and mastery behind a beautiful mechanical wristwatch.
1:20.2	Brought to you by the luxury British watchmaker, Vermont.
1:25.7	When one of the world's most successful hedge fund managers is also the architect
1:30.5	and benefactor of the world's largest children's charity, you might be tempted to think that
1:35.7	that's enough for most mortals, creating wealth and helping children thrive and survive through
1:40.9	an immense charitable endeavour. But when that same person trains his sights on
1:45.5	corporations failing to properly address their climate change transition plans, some good advice
1:51.1	to CEOs and their boards might be to look at, or they may wish they'd paid attention
1:55.8	earlier. So I've been in this industry since 85 and until today I've never had the chance
2:00.8	to talk to one of the world's greatest investors, donors and determined activists for comprehensive corporate change in addressing climate issues and attendant behaviours. So it's very exciting and it's a great honour. So welcome Sir Chris Hohn to the MoneyMays podcast. Thank you. It's my pleasure, son.
2:19.3	Great. Well, let's just dive in. How did your upbringing prepare you for such a successful
2:25.0	career in finance? Mine is a somewhat unlikely story. I was the son of a car mechanic.
	...

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