RWH046: A New Golden Age w/ Bob Robotti
We Study Billionaires - The Investor’s Podcast Network
Intro
This chapter explores the insights of a seasoned investor on the importance of adaptability in volatile market conditions. It discusses current challenges like high inflation and a global energy crisis, while advocating for a shift in focus towards undervalued stocks in emerging markets.
In this episode, William Green chats with Bob Robotti, a great investor who’s crushed the S&P 500 over the last 40 years. Bob, the President & Chief Investment Officer of Robotti & Co, explains why he believes we’re in a “new golden age” for active, value-oriented investors (not index funds); why he expects persistently high inflation; why he’s betting heavily on the resurgence of Old Economy businesses; & how he’s positioned to profit from “the first truly global energy crisis.”
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
12:18 - How Bob Robotti lucked into the ideal job for an aspiring investor.
33:19 - How working for Mario Gabelli was like a one-on-one MBA.
40:22 - Why Bob thinks we’re in a new golden age for savvy stockpickers.
40:48 - Why he’s betting heavily on a “metamorphosis of the Old Economy.”
46:16 - How globalization is evolving as China loses its edge.
50:49 - Why energy-intensive US companies have a long-term advantage.
57:33 - Why owning the “Magnificent Seven” looks like a risky bet.
58:23 - What an era of persistently high inflation means for investors.
1:03:35 - How value investing has changed.
1:19:01 - How Bob is positioned for “the first truly global energy crisis.”
1:38:06 - How his life has been enriched by helping young people.
1:43:45 - What he learned from his wife and father about facing adversity.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
- Bob Robotti’s investment firm, Robotti & Co.
- Bob Robotti’s writings.
- Check out MedShadow.org, a health-related site founded by Bob Robotti’s wife, Suzanne.
- William Green’s podcast with John Spears: Winning the Long Game | YouTube Video.
- William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
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- Check out all the books mentioned and discussed in our podcast episodes here.
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