Inevitably, your most successful holding will become a big part of the portfolio, and

you will be tempted to chip it away in the name of risk control.

But that goes against the structure of returns.

It is the small number of big winners that matter. That was Tom Slater, head of U.S. Equities at Bally Gifford.

I'm Motley Fool producer, Matt Greer.

Now, the Motley Fool, we love learning from successful investors.

So this week, Motley Fool Chief Investment officer, Andy Cross, talks with Tom Slater

about finding long-term winners and navigating short-term volatility.

Hi, fools. Welcome to another Motley Fool conversation. I'm Andy Cross. Joining me today is Tom Slater.

Tom is head of U.S. Equities at Bailey Gifford, where he is a partner, a co-manager of the U.S. Equity Growth Fund, and Scottish Mortgage Investment Trust, a Futsi 100 listed company that really, frankly, has nothing to do with Scotland or mortgages, Tom. Welcome, and thank you for joining us here at The Motley Fool. Thank you so much for having me. Yeah, we have so much alignment around our investing

approach. So I'm really looking forward to digging in to here. And we'll get to the markets and

stocks in a second, Tom, but I do want to start with that philosophy a bit because the approaches

between your investment approach and the Motley Fool's investment approach around long-term investing

really resonate. And so I really want you to share's investment approach around long-term investing really resonate.

And so I really want you to share your investment approach, your time horizon, and when you look at investing over five and ten years, and the focus on innovation and transformation technologies.

Yeah.

Well, to make it really simple in the first instance, our aim is to find the world's most exceptional growth companies and own them for long periods of time.

So that's, you know, it's simple, but it's not easy.

You know, sort of peeling back the layers on that a little bit, you know, we spend our time looking at companies and thinking what might go right not what might go wrong in an industry

that is full of skeptics and people picking holes and arguments you know we

think it's important to think critically but in the context of the upside

how much can we make if we're right about this? We're looking

...