RWH049: Crushing The Market Over 50 Years w/ Jay Bowen
We Study Billionaires - The Investor’s Podcast Network
Strategic Investment Decisions: The Power of One Choice
This chapter examines how strategic investment choices influence portfolio performance, highlighting the financial benefits of thorough market analysis. It contrasts the investment trajectories of Coca-Cola and Apple, emphasizing the need for informed decision-making amidst inherent risks in investing.
In this episode, William Green chats with Harold J. (“Jay”) Bowen III, President & CIO of Bowen, Hanes & Company. Jay & his late father generated dazzling returns for their biggest client, the Tampa Firefighters’ & Police Officers’ Pension Fund. The fund’s stock portfolio has achieved an annualized return of 14.4% over 50 years & a cumulative return of more than 81,000%. Here, Jay explains how they pulled this off, sharing one of the great untold stories of the investment world.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
08:37 - What makes the Tampa Firefighters’ & Police Officers’ Pension Fund special.
17:54 - How Jay Bowen’s father came to run the fund half a century ago.
29:09 - How to thrive by slashing fees, shunning consultants, & thinking long term.
38:54 - Why Jay takes a top-down thematic investment approach.
43:03 - How the fund made a fortune buying Coca-Cola before Buffett.
47:15 - Why it pays to bet on extraordinary CEOs.
51:09 - Why truly long-term investors shouldn’t bother with bonds.
1:05:31 - How Jay is positioned to profit from the Fourth Industrial Revolution.
1:10:27 - How he thinks about pricey stocks like Nvidia & Costco.
1:14:29 - How he invests in smaller companies he sees as future blue chips.
1:18:06 - Why he’s obsessed with the Federal Reserve.
1:22:16 - How to invest successfully in times of market mayhem.
1:37:58 - How being an endurance athlete has helped Jay as an investor.
1:53:58 - How he structures his days to optimize performance.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Jay Bowen’s investment firm, Bowen, Hanes & Company.
- Links to Jay Bowen’s media appearances.
- William Green’s podcast episode with Fred Martin | YouTube Video.
- William Green’s podcast episode with Bob Robotti | YouTube Video.
- William Green’s book, “Richer, Wiser, Happier” – read the reviews.
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- Check out all the books mentioned and discussed in our podcast episodes here.
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