Why Combine Buffett and Sun Tzu?

Meb asks why Tobias paired Buffett with Sun Tzu, and Tobias describes seeing Sun Tzu's focus on avoiding ruin as aligned with Buffett's approach.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

Today’s guest is Tobias Carlisle, founder of Acquirers Funds and serves as portfolio manager of the firm’s deep value strategy. He’s just released a book called Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking.

In today’s episode, Toby starts by discussing the current valuation landscape and the challenge for small cap investors. Then he explores the intersection of Warren Buffett’s investment philosophy with Sun Tzu’s teachings. He walks through notable investment case studies, including General Re, Burlington Northern and Japanese trading houses.

The case studies all convey the significance of patience, strategic thinking, and the pursuit of asymmetric opportunities in investing, while also addressing the psychological aspects that influence investor behavior.

(0:34) Introduction of Tobias Carlisle

(1:32) Value investing in current market conditions

(4:04) Market outlook and valuation differences across cap-sizes

(10:03) Jay Powell's recent comments

(13:57) Toby's new book

(19:54) The Gen Re investment

(26:33) Buffett's investment in Japan and Apple

(32:57) Buffett's investment principles and managing FOMO

(42:30) Comparing low volatility and high beta stocks

-----

Follow Meb on X, LinkedIn and YouTube

For detailed show notes, click here