IL12: How to Invest ft. David Rubenstein
Top Traders Unplugged
Are You Surprised by the Backlash?
The backlash against BlackRock and ESG in general has been intense. But I don't think the movement's gone away, you know, nothing goes forward in a straight line all the way to the sun. Maybe it's a down period, but ESG is here to stay and it's not going away.
Today, Kevin Coldiron is joined by the legendary David Rubenstein, Co-Founder and Co-Chairman of the Carlyle Group, philanthropist, historian and more, for a conversation on what we can learn from his journey to become a billion dollar investor, based on his book, “How To Invest”. We discuss what Rubenstein learned from his work as a lawyer and what young, aspiring investors can learn from his book, why it is important to work with something you love to do and why investors are an important part of society. We also discuss how great results require great risk and how becoming a successful investor requires a balance between luck, skill and risk, how to evaluate successful firms like Carlyle Group and the role philanthropists play in society, the economic inequality in America and why taxing the wealth is not a way to solve it, why Rubenstein believes ESGs are here to stay and much more.
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Episode TimeStamps:
02:13 - Introduction to David Rubinstein
07:02 - From lawyer to investor
11:48 - What inspired the book?
16:32 - Is capitalism going out of fashion?
18:43 - The path to becoming an investor
25:11 - Diversification vs concentration
30:07 - The bigger the better?
35:38 - Reasons to be cautious?
37:25 - Can you rely on philanthropists?
44:58 - Charity - a problem solver?
51:44 - Rubensteins approach to reading
54:49 - Baseball jargon
55:43 - Key takeaways from Niels
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