We Study Billionaires - The Investor’s Podcast Network

RWH019: Winning the Long Game w/ John Spears

8 snips
Dec 25, 2022
Guest
John Spears
John Spears, managing director at Tweedy Brown, shares his passion for value investing, sparked at just 12 years old. He recounts the humbling lessons from an early investment disaster and the importance of tracking insider buying. The conversation reveals Spears' admiration for Warren Buffett and his preference for high-quality, albeit 'dull', stocks like Nestle. He emphasizes achieving satisfactory returns over chasing unrealistic profits while advocating for a debt-free lifestyle and global diversification in investments, all influenced by his Quaker values.
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ANECDOTE

First Stock Purchase

  • John Spears bought his first stock, British Petroleum, at age 12 after realizing investing was less laborious than gardening.
  • This sparked his lifelong fascination with making money with money.
ANECDOTE

Early Entrepreneurial Ventures

  • As a teenager, Spears displayed entrepreneurial spirit, from renting a hammock to selling Coca-Cola on construction sites.
  • His most successful venture involved selling Christmas cards using a reverse telephone directory for appointments.
ANECDOTE

Early Investing Lessons

  • Spears' first stock, British Petroleum, yielded a 50% profit, fueling his confidence.
  • However, his next investment in Allside Corp resulted in a 50% loss, teaching him a valuable lesson about market risk.
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