TIP726: From Obscurity to Opportunity: Jon Cukierwar’s Investment Edge
We Study Billionaires - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 1 June 2025
⏱️ 83 minutes
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Summary
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| 0:00.0 | You're listening to TIP. |
| 0:03.3 | John Suu Kiroir has quietly built one of the most impressive emerging track records in global investing today. |
| 0:09.1 | Since the fund's inception, five years ago, he's compounded returns at 15% per annum, |
| 0:13.8 | crushing the S&P 500 returns of 9% per annum over the same time period. |
| 0:18.1 | But John's route to success hasn't been the most conventional. |
| 0:21.6 | After cutting his teeth under the legendary value investor Bob Robotti, where he learned about the power of |
| 0:25.7 | truly independent thinking and deep, bottom-up research, John launched his fund. But instead of focusing on |
| 0:32.0 | deep value, John focused on business templates that resonated with him. These were global stocks that |
| 0:36.7 | tended to be smaller |
| 0:37.5 | in size and were often overlooked by Wall Street. Now, while these companies may be obscure, they |
| 0:43.1 | tend to tick the trifecta that John looks for, which are quality, growth, and value. Another |
| 0:48.8 | interesting thing I learned about John was that he benchmarks his fund against the S&P 500, despite |
| 0:53.4 | never holding a single stock |
| 0:55.3 | inside of that index. His reasoning for competing with that benchmark is explicitly the response |
| 1:00.5 | that I'd want to hear if I ever decided to have someone else manage my money. We'll look at why |
| 1:05.5 | John prefers foreign markets to U.S. once and how he crosses the hurdle of understanding |
| 1:10.2 | businesses in foreign |
| 1:11.3 | countries. We'll also have a much closer look at what John looks for during his site visits |
| 1:16.4 | and talks with management. If you've never gotten a chance to read any of John's research, |
| 1:21.8 | you're in for a treat. His research during the due diligence process feels more on par with |
| 1:26.4 | something like investigative |
| 1:27.7 | journalism than what you'd expect versus the average analysis. |
... |
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