RWH013: Move Slow, Win Big W/ Thomas Russo

09/18/22 • 99 min

2 Listeners

We Study Billionaires - The Investor’s Podcast Network

IN THIS EPISODE, YOU’LL LEARN:

02:17 - What Tom Russo learned from a life-changing encounter with Warren Buffett in 1982.
09:53 - Why “agency” cost is one of the greatest risks facing all investors.
14:02 - Why Tom favors companies that willingly endure pain today for gain tomorrow.
16:02 - How he rode Berkshire Hathaway from $900 to more than $430,000 per share.
21:08 - Why Buffett’s team of successors should do fine when Berkshire is in their hands.
27:17 - What Tom learned while working for investment legend Bill Ruane.
38:16 - Why Tom immediately sold Wells Fargo & Altria after realizing they’d lost their way.
48:46 - Why Tom loves brands where consumers believe there’s “no adequate substitute.”
53:39 - Why Tom is bullish about Heineken’s long-term future, even after owning it for 36 years.
01:07:08 - How Tom succeeds by resisting short-term temptations & deferring gratification.
01:16:09 - What Tom failed to understand about Alibaba & the political risks of investing in China.
01:23:11 - How Tom thinks about moral questions like whether it’s okay to own tobacco stocks.
01:25:51 - How innovators like Nestlé & Heineken are helping to combat climate change.
01:35:13 - How Tom’s investment success is fueled by his insatiable curiosity.
01:37:41 - What Tom learned from Charlie Munger about the importance of trusting your gut.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Thomas Russo’s 2018 Google Talk on “Global Value Investing.”
Warren Buffett discusses Bill Ruane, who ran the Sequoia Fund & helped train Tom Russo.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
William Green’s Twitter.

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:

HELP US OUT!

Help us reach new listeners by leaving us a rating and review on

IN THIS EPISODE, YOU’LL LEARN:

02:17 - What Tom Russo learned from a life-changing encounter with Warren Buffett in 1982.
09:53 - Why “agency” cost is one of the greatest risks facing all investors.
14:02 - Why Tom favors companies that willingly endure pain today for gain tomorrow.
16:02 - How he rode Berkshire Hathaway from $900 to more than $430,000 per share.
21:08 - Why Buffett’s team of successors should do fine when Berkshire is in their hands.
27:17 - What Tom learned while working for investment legend Bill Ruane.
38:16 - Why Tom immediately sold Wells Fargo & Altria after realizing they’d lost their way.
48:46 - Why Tom loves brands where consumers believe there’s “no adequate substitute.”
53:39 - Why Tom is bullish about Heineken’s long-term future, even after owning it for 36 years.
01:07:08 - How Tom succeeds by resisting short-term temptations & deferring gratification.
01:16:09 - What Tom failed to understand about Alibaba & the political risks of investing in China.
01:23:11 - How Tom thinks about moral questions like whether it’s okay to own tobacco stocks.
01:25:51 - How innovators like Nestlé & Heineken are helping to combat climate change.
01:35:13 - How Tom’s investment success is fueled by his insatiable curiosity.
01:37:41 - What Tom learned from Charlie Munger about the importance of trusting your gut.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Thomas Russo’s 2018 Google Talk on “Global Value Investing.”
Warren Buffett discusses Bill Ruane, who ran the Sequoia Fund & helped train Tom Russo.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
William Green’s Twitter.

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:

HELP US OUT!

Help us reach new listeners by leaving us a rating and review on

Previous Episode

TIP476: How to Value Companies like Alphabet, AXON and FIGS w/ Brian Feroldi

IN THIS EPISODE, YOU’LL LEARN:

01:53 - How and when to apply metrics like P/E, P/GM and P/S depending on a company's stage in its lifecycle
12:17 - Brian’s most important attribute when valuing a company
15:22 - The difference between real moats and fake moats
27:51 - When to emphasize valuation and when not to
37:12 - Brian’s assessments of Alphabet, FIGS & AXON
And a whole lot more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Why Does the Stock Market Go Up? Book.
Brian Feroldi Twitter.
Brian Feroldi Newsletter.
Brian Feroldi Youtube.
Trey Lockerbie Twitter.
Related Episode: Why does the stock market go up? w/ Brian Feroldi - TIP437.
Related Episode: Creating An Investing Checklist w/ Brian Feroldi - TIP375.

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:

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!

Next Episode

BTC096: Fractional Reserve Banking Vs Bitcoin w/ Mike Stroup (Bitcoin Podcast)

IN THIS EPISODE, YOU’LL LEARN:

01:22 - The numbers around federal interest expense and rising interest rates.
23:58 - Mike's thoughts on the broad money supply being the best way to measure inflation.
28:36 - A comparison between now and 2007.
34:51 - Explaining reverse repo in a simplified way.
47:23 - How do countries use reserve to defend a currency and does the countries size matter?
48:07 - Why currency spreads are making it hard to service dollar denominated debts.
54:47 - Is this time different?
58:25 - Is the 50% attack vector even worth worrying about?
01:03:03 - Mike Stroup's background.
01:04:18 - Mike and Preston share military pilot stories.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Mike Stroup's Twitter
The charts from the show.

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.