What Was It Like for You in March of 2020?

Mark Richmond sold his insurance company Carmex in March of 2020. It was a combination of factors that when people did not know what the ultimate outcomes would be, he says. "I wanted to be in a position that no matter what came next we were going to be ready willing and able to answer the bell"

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Episode notes

Tom Gayner stops by The Business Brew to discuss a number of things. You can see the detailed show notes for specifics, below the stratosphere.io sponsor copy. In summation, Bill has wanted to interview Tom for a long time but didn’t know how to make the interview unique. We think this interview covers some topics Tom has not discussed elsewhere.

Please consider attending Markel’s annual meeting. On Wednesday, May 17th, from 9-10:30 the good folks at Robotti and Co. are hosting an investor panel. There will be 8-12 “best ideas” presented. The Markel annual meeting will follow that event. Food, music, and beer will follow the Markel annual meeting.

We hope you enjoy this podcast episode.

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Thank you to the team at thepodcastconsultant.com for producing the show.

Detailed Show Notes -

5:00 – The goal of the Markel annual event

7:30 – Tom’s background

9:35 – Blue capital and orange capital

17:05 – Creating dealflow and how long that takes

20:10 – Learning how to delegate

24:55 – What happened with the ILS transactions

33:20 – Searching New Highs and New Lows

38:40 – How investing at Markel does or does not impact Tom’s investing style

34:20 – The intertwining of Berkshire, Markel, and The Davis Funds