Simon Kold is the founder of Kold Investments, a Copenhagen-based investment firm. He was previously at Novo Holdings, one of the world’s largest investment organizations. His investment experience spans both public and private markets. Simon is one of the few fund managers who also has a degree in theology and had a stint in stand-up comedy.
His book, On the Hunt for Great Companies: An Investor's Guide to Evaluating Business Quality and Durability, was published by Wiley in late October.
Summary
In this conversation, Simon Kold, founder of Kold Investments, shares his unique journey from stand-up comedy and theology to becoming a successful fund manager. He discusses the importance of understanding one's relationship with money, the pursuit of durable companies, and the significance of passion in business.
Kold emphasizes the need for long-term incentives in management compensation and the critical role of capital allocation in quality businesses. He also delves into the concept of competitive advantage, highlighting the difference between intensity and durability. In this conversation, Simon Kold and Bogumil Baranowski explore various themes in investing, including the importance of recognizing competitive disadvantages, the balance between infinite investment horizons and finite assets, and the significance of staying power and adaptability in businesses.
They discuss the concept of fair value extraction, the characteristics of an ideal future business, and the various risks that investors face. The conversation concludes with reflections on success and the personal journey of writing a book that combines humor with investment philosophy.
You can find resources related to the book on Simon’s personal author website simonkold.com
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