Soo Chuen Tan, Discerene - Contrarian, Long-Term Value Investing | #500

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 20 September 2023

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is Soo Chuen Tan, Founder & President of Discerene Group, which has a fundamental, contrarian, long-term value investing philosophy. Today’s episode starts off with lessons from working under the great Seth Klarman at Baupost. Then we spend a lot of time around what the ideal structure is for an investment firm and how to build a true partnership with LP’s - and that even includes giving money back when there aren’t opportunities in the market. Then we get into his investing philosophy. He answers broad questions like: what businesses actually have network effects? Does it matter if a certain business goes away tomorrow? ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. YCharts offers a suite of intuitive tools, including numerous visualizations, comprehensive security screeners, portfolio construction, communication outputs, and market monitoring. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription. (New clients only). Mark your calendars for September 22nd because YCharts will be hosting a webinar to unveil Proposals and show off its full potential. Sponsor: Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Med Faber Show, where the focus is on helping you grow and preserve your wealth.
0:09.0	Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser. the at Cambria Investment Management. Did in industry regulations, he will not discuss any of Cambria's funds on this
0:24.2	podcast.
0:25.2	All opinions expressed by podcast participants are solely their own opinions and do not
0:28.4	reflect the opinion of Cambria Investment Management or its affiliates.
0:31.3	For more information, visit Cambria Investments.com.
0:33.4	Welcome podcast listeners. We got a special episode today. Our guest
0:40.9	is Sue Chu and Tan, founder and president of Disarine Group, which has a fundamental,
0:45.2	contrarian, long-term value investing philosophy.
0:48.3	Today's episode starts off with lessons learned from working under the great Seth Clarmon at Bow Post.
0:53.4	We spend a lot of time around what the ideal structure is for an investing
0:56.6	firm, how to build a true partnership with LPs,
0:59.6	and that even includes giving money back
1:01.7	when there aren't opportunities in the market.
1:04.0	Then we get into his investing philosophy. He answers broad questions like, what businesses actually have
1:09.2	network effects? Does it matter if a certain business goes away tomorrow?
1:13.0	This was such a fun episode.
1:15.0	Special thanks to former guest,
1:16.0	Chascock, for helping make this episode happen.
1:18.0	This episode is brought to you by 10 East.
1:24.0	Long time listeners know I've invested in private markets quite a bit myself,
1:28.0	but with access to these markets broadening,
	...

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