meta_pixel
Tapesearch Logo
Log in
The Investor's Podcast (We Study Billionaires)  - The Investor’s Podcast Network

TIP332: Long-Term Investing w/ Tom Gayner

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.63.6K Ratings

🗓️ 17 January 2021

⏱️ 63 minutes

🧾️ Download transcript

Summary

In today’s episode, we sit down with legendary investor, Tom Gayner, Co-CEO of Markel Corporation. Markel has been referred to as a “Baby Berkshire”, because it is structured similarly to Berkshire Hathaway, and has produced stellar results. Tom has been producing investment returns in the high teens for Markel Corp for over 30 years and was kind enough to give us incredible insight into his investment strategies and philosophies.  IN THIS EPISODE, YOU'LL LEARN: Why investing is sometimes more “art” than science How a practical approach can lead to unprecedented returns How a frugal life leads to fulfillment Tom’s thoughts on index funds And much much more! BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members. Markel Corporation: Meet Markel Markel: Shareholder Letters Stig: Twitter | LinkedIn Trey: Twitter | LinkedIn NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts.  SPONSORS Support our free podcast by supporting our sponsors: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Plus500⁠ ⁠Netsuite⁠ ⁠Shopify⁠ ⁠Vanta⁠ HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TI-P.

0:30.0

Wide-racing discussion, so sit back in a jar discussion with Tom Gainer.

0:35.0

You are listening to the Investors Podcast where we study the financial markets and read the books that influence self-made billionaires the most.

0:46.0

We keep you informed and prepared for the unexpected.

0:50.0

Welcome to the Investors Podcast. I'm your host, Dave Brodison, and today I'm here with my co-host, Trey Lockaby.

1:05.0

We are honored to be joined today by Tom Gainer.

1:08.0

Tom, thank you so much for being time to educate our community about investing.

1:13.0

Thanks for having me.

1:15.0

The first thing I want to talk about today is your evolution as a value investor.

1:20.0

You've been in the business over 30 years. I know you started with the Benjamin Graham model, followed Warren Buffett very closely.

1:27.0

Mark Hell has sort of adopted the Berkshire Hathaway structure, and you've been investing that portfolio for 30 years.

1:33.0

I'm just curious, over that time, how has your strategy and philosophy evolved and how has it stayed the same?

1:40.0

Again, thank you very much for having me. It's very flattering, preparing for our chat today.

1:45.0

I did listen to a number of episodes, and you do a professional job and really bring on a lot of very interesting people, a lot of very intelligent people, and a lot of people were talking about some very important, complicated, thoughtful topics.

2:00.0

And I don't know how to do any of that. So, I don't quite know how I scored an invitation, but thank you.

2:05.0

I suspect that the nature of our conversation will be a bit different than some of the things that some of your other guests have talked about on different topics.

2:13.0

But thanks for having me.

2:15.0

Of course, the last 30 years, and that actually describes my time friend here at Mark Hell.

2:20.0

I was in the investment business for six years before that.

2:23.0

And frankly, one of the ways I came to be interested in investing is frankly, I can't remember a time that I wasn't because my father had his office in our house.

2:33.0

And he was a CPA in a small town businessman. And as fathers and sons would talk about forts and football and baseball.

2:40.0

We did that, but we also talked about investing because he was a businessman and adored by father.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Stig Brodersen, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Stig Brodersen and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.