#70 Laurence Endersen: The Compounder's Element
Investing by the Books
Intro
This chapter features a conversation with an experienced Irish investor who discusses his book 'The Compounders Element'. The discussion highlights the significance of long-term investment strategies and the value in understanding quality businesses for success.
We are happy to have Laurence (Lar) Endersen on the podcast. Lar is an experienced and thoughtful investor based in Ireland, where he heads his private investment firm Capstrive. Lar is also the author of books such as 'Pebbles of Perception'. We discuss his latest title – The Compounder's Element – a valuable and entertaining gem on long-term investing.
For more info about the podcast, go to the episode page and make sure to follow us on X/Twitter. We love to hear your thoughts on what you like and what we can improve, so please give us your rating and a review. You’re also very welcome to tell us about great authors, books, and investors you want to hear on the show. Thank you! /Eddie & Niklas with team
This episode was recorded on April 9, 2025.
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Episode Chapters
(00:00) Intro by Eddie & Niklas
(01:22) Get to know Lar Endersen
(06:08) How The Compounder’s Element came about
(08:16) Choosing the patient path
(13:41) The path must match our personality
(16:26) Explaining the title – what is the compounder’s element?
(19:05) Great business models such as Privileged Perch, High ROIC Cookie Cutter
(25:22) Cash – a safety or comfort blanket?
(33:31) How to disrupt compounding
(40:02) Managing your own money vs. for others
(47:50) Investing in public vs private companies
(54:09) Lar’s private investment firm – Capstrive
(58:08) Holdings and position sizing
(01:01:58) Lar the author – Pebbles of Perception
(01:04:05) More books on the horizon?
(01:06:43) Concluding remarks
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Articles & Books Mentioned
- The Compounder’s Element – Laurence Endersen
- Atomic Habits – James Clear
- Antifragile – Nassim Taleb
- Complexity Investing – NZS Capital
- Pioneering Portfolio Management – David Swensen
- Market Wizards – Jack Schwager
- Pebbles of Perception – Laurence Endersen
- The Outsiders – William Thorndike
- The Intelligent Fanatics – Sean Iddings & Ian Cassel
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Companies Mentioned
- (21:37) Microsoft, Stripe
- (22:50) Walmart, McDonald's, Starbucks, Action
- (24:00) Roper
- (26:04) Berkshire Hathaway
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More on Laurence Endersen
- Website: https://endersen.com/
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About the Podcast
Intro episode: https://www.redeye.se/podcast/investing-by-the-books/817383/0-intro-to-investing-by-the-books
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What is Investing by the Books?
Investing by the Books was founded by Henrik Andersson, Bo Börtemark, Mats Larsson and Michael Persson. It has published hundreds of book reviews in the past 10 years and operates on a non-profit basis.
Visit the website: http://www.investingbythebooks.com/
Follow on Twitter/X: https://twitter.com/Investbythebook
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What is Redeye?
Redeye is a research-centered boutique investment bank from Stockholm. Founded in 1999, Redeye cultivates investors through timeless knowledge, a humble attitude, and a strong focus on quality.
Visit the website: https://www.redeye.se/
Follow on Twitter/X: https://twitter.com/Redeye_
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Disclaimer
Notice that the content in this podcast is not, and shall not be construed as investment advice. This information is meant to be informative and for general purposes only. For full disclaimer, visit Redeye.se
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