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InvestED: The Rule #1 Investing Podcast

429- FROM THE VAULT: Bill Ackman’s Investing Checklist Part 2

InvestED: The Rule #1 Investing Podcast

Phil Town & Danielle Town

Investing, Business

4.61.6K Ratings

🗓️ 1 August 2023

⏱️ 40 minutes

🧾️ Download transcript

Summary

Bill Ackman’s checklist is straightforward and reflects the basic principles of Rule #1 investing. But sometimes a company’s story has changed, so you must research further to determine if you need to hedge, or even exit a position. This week, we head back to the vault to hear part 2 of last week’s analysis of Bill Ackman’s investing checklist. This week, Phil and Danielle go into greater depth on the topic and discuss why it’s important to keep things simple with your investing. To gain a better understanding of the moats your investments ought to have, click here for The 5 Moats Investment Guide: https://bit.ly/3Kmb33J Topics Discussed: Irish companies The snowboarding of money Power structures of corporate governance The value of patience and humility in investing Resources Discussed: Origin Enterprises I-RES Permanent TSB AIB Bank of Ireland Kingspan Ryanair Smurfit Kappa CRH Glanbia Kerry Group Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Hi, everybody, and welcome to Invested. I'm Danielle Town. This week we're going to put up the second part of that checklist discussion about Bill Ackman's investing checklist.

0:21.0

So finish that up and enjoy and think about these Irish companies that are wonderful Irish listeners sent in.

0:28.0

I'm just going to read you a decent list of companies here, and I want to do that because rather than just picking one myself and giving you the one company, I think it's cool for you all to have the opportunity to look into whichever ones you're interested in.

0:43.0

And undoubtedly we all have different views, different expertise, different circles of competence, and perhaps you'll find something on this list that is particularly in your wheelhouse.

0:56.0

So from Eli, we've got origin enterprises, which from his description sounds quite global.

1:03.0

I haven't looked at it yet, but I guess it's an Irish company origin enterprise. That one sounds interesting.

1:09.0

From Paul, who's living in Cork, thanks Paul, we've got I-R-E-S-R-E-T, which is a reek company holding rental properties across Ireland, and it's lost a bunch of value recently, so he thinks perhaps it could be interesting.

1:25.0

We are probably not going to end up talking about a reek, but could be cool for those of you who are interested.

1:32.0

I-R-E-S-R-E-S-R-E-T, and then we've got from Owen, a couple of banks, permanent TSP, I-I-S-R-A-I-B-Bank, and then Bank of Ireland.

1:44.0

And then other ones are Kingspan, which is an installation company, Ryan Air, of course, the airline, much maligned airline, if you've ever flown it, which I certainly have.

1:56.0

Smurf Fit Capo, which is a paper and packaging company, and C-R-H, which is a building product company, and most of those are global, so that's quite interesting.

2:07.0

Thank you, Owen. And then from Paul, we've got Glan Bia, which is a food company, Carey Group, which is a food company, and they make Carey Gold Butter, and when I googled Irish public companies, that was one of the first ones that came up, and Carey Gold Butter is fantastic.

2:23.0

So, all of you who have had that, that could be a cool one. They also own a lot of subsidiaries, so maybe a little bit more complicated than we may take on.

2:34.0

And then Paul also mentioned C-R-H, so that's probably a pretty big Irish company to get two votes for that one.

2:42.0

Thank you, Paul. It was wonderful to hear from our Irish listeners.

2:47.0

So, enjoy this week, you guys, the checklist episode, and next week, I'm going to look at all of these as well. They're mostly new to me, and choose which one to look into more, and that's what I'll put up next week quickly, and then hopefully we'll be back at the two of us after that.

3:06.0

So, I hope you're enjoying your August, and enjoy your investing practice. This is fun. Thanks, everybody. Bye.

3:17.0

Hey, everybody, this is Bill Town. And this is Daniel Town. Welcome to the invested podcast where we're talking for a long time about how to invest, which seems to be something that is very simple and not easy.

3:32.0

It's just a plethora of things to learn and details and squiggly bits that may have seemed here to for unknown, and that's what's fun is we're getting into all those little nucks and crannies these days.

3:46.0

I think it's the snowboarding of money, I think, is because it was really cool for a while, and now it's not.

3:54.0

Oh, no, really snowboarding no longer cool.

3:59.0

No, I think snowboarding is very cool, but what happened, as you well know, is that skiing stole all the ideas of snowboarding and created way fatter skis and way shorter skis.

...

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