Invest Like the Best with Patrick O'Shaughnessy cover image

Invest Like the Best with Patrick O'Shaughnessy

Chuck Akre - The Three Legged Stool - [Invest Like the Best, REPLAY]

Feb 6, 2024
48:41
Snipd AI
Chuck Akre, a legendary investor, discusses his investing style and his 'three-legged stool' for evaluating companies. They talk about Nirvana investing, compound returns, diversifying across technology trends, the importance of people in investing, exceptional leadership, land conservation, advice for young investors, and the importance of pricing power.
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Podcast summary created with Snipd AI

Quick takeaways

  • Chuck Akre emphasizes the value of imagination and curiosity in investing, stating that pure knowledge is not necessarily a ticket to success.
  • Chuck Akre highlights the importance of identifying businesses with above-average returns on capital and the value of simplicity in investing.

Deep dives

Investing in a One Traffic Light Town

Chuck Ockrey, a highly successful investor, discusses the advantages of living and working in a small town like Middleburg. He highlights the importance of a low level of activity and minimal distractions, allowing him to focus on investment strategies without being disturbed by outside events. Chuck emphasizes the value of imagination and curiosity in investing, stating that pure knowledge is not necessarily a ticket to success. He introduces his three-legged stool approach, which includes identifying businesses with high returns on capital, exceptional management teams, and a track record of successful reinvestment. He also shares examples like Bandag and MasterCard that exemplify the principles of his investing style.

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