Business Mispricings, Risk Management and Sticking To Your Process w/ Gary Mishuris, Silver Ring Value Partners (Episode 40)

Aug 28, 2020

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***Disclaimer: Nothing you hear on this podcast is in any way, shape or form to be construed as investment advice. The guest on this podcast may hold positions in any/all names mentioned during the podcast. This is not investment advice and investors should always conduct personal due diligence before investing in any security. Past performance of any funds mentioned are not indicative of future returns.***

Gary Mishuris is the managing partner and Chief Investment Officer of Silver Ring Value Partners. After working his way through the Mutual Fund world, Gary founded Silver Ring Value Partners. The Fund utilizes a concentrated intrinsic value approach in seeking to safely compound capital over the long term.

Gary is a class-act investor and even better person. I met him in 2019 at the ValueX Vail conference. We played cornhole and I think we won. Our hour-and-a-half conversation covers business valuation, mispricings, investor psychology and how to create a solid investment partnership.

I learned a ton from listening to Gary so I know you will too.

Here's the time-stamp:

[2:54] Lessons From Fidelity
[8:15] Managing Billions Out of College
[12:45] Gary’s Christmas Eve Nightmare
[20:46] Great Businesses Are Rarely Mispriced
[27:52] Mutual Funds Don’t Foster Long-Term Investing
[32:18] Prioritizing Luxuries of Life (When You Don’t Need More)
[39:50] How Gary Structured His Partnership
[45:05] Soup-to-Nuts Process: Covetrus (CVET)
[59:47] The Key To Position Sizing
[63:30] Portfolio At Risk
[70:05] Implementing Your Process vs. Judging Performance
[79:46] The Power of Quora For Audience Growth
[85:25] From Russia To USA, Gary’s Immigrant Story
[90:20] Closing Questions

If you want to learn more about Gary, check out these resources: