Rainmakers #1 Richard Rainwater: The Bass Years
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Jan 16, 2024 Explore the journey of Richard Rainwater, legendary investor who turned $50M into $5B in 16 years managing Bass family investments. The podcast discusses his investment approach, collaboration with experts, unconventional entrepreneurs in the oil industry, early life and investment philosophy, deal making in the 70s, and investing in transformational changes and backing the best talent.
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Rainwater's Investment Philosophy
- Richard Rainwater's investment approach involved looking for major, systemic changes in industries.
- He identified opportunities created by new technologies, regulations, and market shifts, rather than simply seeking undervalued assets.
Partnering with Experts
- Collaborate with top-tier experts in specific fields instead of competing with specialists.
- Position yourself as a source of liquidity for influential figures to gain insights and access to major deals.
Iterative Thesis Development
- Rainwater's investment thesis wasn't pre-planned; it evolved through trial, error, and learning from his experiences.
- He adapted his approach based on early failures and the Bass family's investment preferences.