Winners Keep Winning w/ Billionaire Terry Smith (RWH054)

William Green chats with British investing legend Terry Smith. Terry, a member of Bloomberg’s index of billionaires, manages the Fundsmith Equity Fund, which is the UK’s largest stock fund. Since 2010, it’s returned more than 600%, beating the MSCI World Index by over 200 percentage points. Here, Terry talks in depth about the skills, personality traits, & principles that catapulted him from poverty to the pinnacle of the investing world.

WHAT YOU'LL LEARN HERE:
00:00:00 - Intro
00:01:20 - How Terry Smith was shaped by poverty & violence.
00:25:12 - How he achieved fame by exposing financial deception.
00:37:35 - What he looks for when identifying great businesses.
00:45:13 - Why many of his favorite companies are 100 years old.
00:51:30 - Which sectors he shuns & which he likes.
00:57:12 - How Microsoft embodies what he loves in a business.
00:59:12 - Why it’s worth paying up for the best companies.
01:13:37 - Why the US is his favorite place to invest.
01:25:24 - How being a CEO made him a better investor.
01:39:34 - Why he refuses to speak with brokers or read their research.
01:42:24 - Why it’s hard to be successful professionally & personally.
01:56:59 - Why he’s deeply skeptical about Tesla.

Transcript & Guest Info: https://www.theinvestorspodcast.com/r...

Join our highly vetted community of value investors: https://www.theinvestorspodcast.com/m...

🔔 Subscribe now and never miss an episode: http://www.youtube.com/c/WeStudyBilli...

📊 Add the Fundrise Flagship Fund to your portfolio in just minutes and with as little as $10. https://fundrise.com/wsb

✍️ Get your paper tablet at reMarkable.com today. https://remarkable.com/?utm_source=po...

BOOKS MENTIONED:
Investing for Growth by Terry Smith: https://amzn.to/42KiNGw
Accounting for Growth by Terry Smith: https://amzn.to/42Kp6tS
Richer, Wiser, Happier by William Green: https://amzn.to/426wpeY

▶️ RELATED EPISODES:
Investing for Growth & Lessons from Terry Smith: The Warren Buffett of Britain:    • Investing for Growth & Lessons from Terry ...  
What I’ve Learned From Warren Buffett & Charlie Munger w/ Chris Davis:    • What I’ve Learned From Warren Buffett & Ch...  
Buffett, Munger, Bitcoin & More! w/ Ray Dalio, Bill Miller, Chris Davis & Michael Berg:    • Buffett, Munger, Bitcoin & More! w/ Ray Da...  
The Vigilant Investor’s Guide to Success in Stocks & Life w/ Chris Bloomstran:    • The Vigilant Investor’s Guide to Success i...  
The Quest for Quality w/ Chris Begg:    • The Quest for Quality w/ Chris Begg (RWH027)  

ABOUT OUR SHOW
On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.

Listen to our episodes here: https://open.spotify.com/show/28RHOkX...
Visit our website: https://www.theinvestorspodcast.com/r...
The Intrinsic Value newsletter: https://www.theinvestorspodcast.com/s...

⚠️ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.

#TerrySmith #Investing #StockMarket #Fundsmith #FinancePodcast