Capital Ideas Podcast
Navigating 23 downturns in 35 years of investing
Sep 21, 2023
Portfolio manager reflects on his 35-year career, discusses navigating downturns, embracing contrarian investing, and his experience living in Hong Kong and working in Europe. He also explores China's business transformation and meeting visionary entrepreneurs. Highlights the constant learning and ever-changing nature of the job.
30:55
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Quick takeaways
- Navigating market downturns requires avoiding emotional overreactions and focusing on intrinsic company values.
- Living and working in different locations globally can provide valuable insights and opportunities in investing.
Deep dives
Navigating Market Downturns and Contrarian Investing
Steve Watson, a veteran portfolio manager, shares his experience navigating 23 market downturns in his 35-year career. He highlights the remarkable transformation he witnessed while living in Europe and Hong Kong and explains the key principles of being a contrarian investor in a changing world. Watson emphasizes the importance of not trying to time the market and instead focuses on cooperating with analysts and carefully assessing intrinsic company values. He also discusses his decision to be fully invested most of the time.
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