The Meb Faber Show - Better Investing
Soo Chuen Tan, Discerene - Contrarian, Long-Term Value Investing | #500
Sep 20, 2023
Soo Chuen Tan, founder of Discerene Group, shares lessons from working with Seth Klarman and the ideal structure for an investment firm. They discuss their contrarian, long-term value investing philosophy, evaluating businesses with network effects, reasons for removing companies from the portfolio, and the importance of considering geopolitical situations when investing outside the US.
01:06:36
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Quick takeaways
- Long-term, contrarian, and global investing philosophy focused on businesses' through-cycle economics.
- Importance of building long-term partnerships with LPs and involving them in decision-making process.
Deep dives
Investing Philosophy: Fundamental, long-term, contrarian, global
The guest, founder and president of Disarine Group, highlights their investing philosophy, which is centered around being fundamental, long-term, contrarian, and global. They emphasize the importance of owning businesses for the long term and understanding their through-cycle economics. They also discuss the significance of being contrarian during times of uncertainty and being a provider of liquidity. Additionally, they stress the importance of analyzing businesses for their moat or barriers to entry, and the need for intellectual honesty when evaluating investments.
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