4.7 • 2.9K Ratings
🗓️ 12 November 2024
⏱️ 71 minutes
🧾️ Download transcript
Adam Karr outlines his personal framework for finding success in both life and business. He shares insights into how to hire the best CEOs (even if you have just ten minutes to talk with them) and what CEOs he avoids talking to, the simple ideas Karr takes seriously, the correlation between people's writing and their performance, and more. This episode is packed with practical wisdom on how to succeed as an investor and business person.
Adam Karr is the President and Portfolio Manager at Orbis Investments. Prior to Orbis, Karr was a partner at Palladium Equity and a financial analyst at Donaldson, Lufkin, and Jenrette.
(00:00) Intro
(02:44) Investing Strategies and Market Games
(04:08) Adapting and Evolving Investment Styles
(05:20) The Importance of Obsession and Environment
(06:29) Aligning with Long-Term Investment Goals
(07:11) Identifying and Evaluating Obsessed CEOs
(08:13) The Role of Culture in Investment Decisions
(08:54) Building Long-Term Positions and Overcoming Short-Term Pressures
(12:21) The Blueprint for Success
(15:24) Learning from Role Models and Mentors
(21:25) The Power of Writing and Decision Analytics
(29:11) The Magic in the Last 5% of Investment Research
(35:25) Understanding Roll-Ups: Success Factors and Challenges
(36:01) Applying Knowledge for an Unfair Advantage
(37:42) Learning from Feedback and Case Studies
(40:47) The Importance of Independent Thinking
(43:06) Lessons from Industry Leaders
(49:32) The Will to Practice and Time Management
(56:44) Positioning for Success and Resilience
(01:08:59) Defining Success and Helping Others
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0:00.0 | How do we go about selecting the game that we're playing in life? |
0:03.2 | Thinking about what game is it that you're playing? |
0:05.2 | And so just using the investing landscape, it surprises me all the time that people don't think |
0:12.2 | about that more deeply. |
0:13.3 | You see this over and over again in markets, and there's a whole continuum. |
0:16.5 | You know, one into the continuum, the algos that are scraping to the millisecond, to a day trader, |
0:22.3 | to the hedge funds and pod shops that are trading on a catalyst, to call it Stan Drucker Miller, |
0:28.0 | who like to talk about, you know, I want to look 18 months out to us. So we consider ourselves |
0:32.7 | long-term investors. We're trying to take a four to five year view to be infinite investors, right? |
0:38.4 | Depending on what game you're playing, you're going to approach it quite differently. |
0:43.3 | And so a really important question, and I see it over and over, even today, people in the business for years of like, well, what game are you playing? |
0:50.2 | And being really clear and thoughtful about that and then really leaning into them, |
0:54.6 | playing to that, I think makes a huge difference. |
1:07.4 | Welcome to the Knowledge Project. |
1:09.1 | I'm your host, Shane Parrish. |
1:10.6 | In a world where knowledge is power, this podcast is your toolkit for mastering the best what other people have already figured out. Can you do me a quick favor? Most people who listen to the show are not subscribers. Go ahead and hit that follow button right now. Thank you. My guest today is Orbis president and portfolio manager, Carr, who reveals his battle-tested system |
1:28.3 | for creating advantages, a method that's transformed organizations and careers. He calls it the |
1:33.4 | blueprint and for good reason. You'll discover how to identify patterns that others miss, exploit |
1:38.5 | hidden edges, others can't copy, build repeatable success in any arena. Warning, this is not another work harder sermon. It's a |
1:47.3 | practical proven framework for outperforming your competition. It's time to listen and learn. There are too many podcasts and not enough time. |
2:05.3 | What if you could skip the noise and get just the insightful moments, even from shows |
2:09.5 | you didn't know existed? |
... |
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