MI314: The Art Of Quality Investing w/ Compounding Quality
The Intrinsic Value Podcast - The Investor’s Podcast Network
The Investor's Podcast Network
4.6 • 592 Ratings
🗓️ 26 December 2023
⏱️ 76 minutes
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| 0:00.0 | I think regarding Warren Buffett, something that's also very important to understand |
| 0:07.6 | is that Warren Buffett is a quality investor and not a value investor. |
| 0:12.2 | For me, he's one of the first quality investors ever. |
| 0:15.5 | It's true that at the beginning of his career, Buffett focused on Cigarbutts, |
| 0:19.3 | so really cheaply valued companies based on fundamental |
| 0:22.7 | criteria. But Buffett actually started focusing on buying wonderful companies at a fair price, |
| 0:29.0 | rather than fair companies at the wonderful price, way sooner than most people think. So I just |
| 0:35.7 | finished reading everything Warren Buffett has ever said and written. |
| 0:39.5 | It's a 5,000 page document and it's really, really good. It's a free MBA, basically. And what |
| 0:46.4 | he basically said in his 1972 and our letter is that he wants to own companies when true |
| 0:52.1 | criteria are met. One, the average return on equity over the past 10 years has been larger than 20% |
| 0:58.6 | and two, there was no single year over the past decade where eternal equity was lower than 10%. |
| 1:09.4 | In this episode, I chat with compoundounding Quality about the benefits of quality investing, |
| 1:14.2 | the tenets of a quality business, why returns on Investing Capital are the most important |
| 1:18.4 | metric for measuring quality, the aspects of a quality management team, the attributes of a successful |
| 1:23.4 | investor, the simple way to measure the returns of an investment, and a whole lot more. I met |
| 1:28.7 | compounding quality on Twitter when he had double-digit followers. His ability to grow his account |
| 1:33.3 | by curating high-quality investing content is unmatched. Since I've known him, he shared research |
| 1:38.4 | with me and always added value to me whenever we interacted. His content is like investing candy. |
| 1:43.6 | You can go and consume it pretty quickly, |
| 1:45.4 | but it always gives you a lot of bang for your buck and you'll always come around for more. |
| 1:49.5 | Even though he has a background on Wall Street, it's evident when talking to him that he has a knack |
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