We Study Billionaires - The Investor’s Podcast Network
TIP626: Intelligent & Rational Long-Term Investing w/ François Rochon
Apr 26, 2024
François Rochon, founder and president of Giverny Capital, is a veteran investor renowned for his long-term strategies. He shares how patience, humility, and rationality have helped him achieve annual returns of 13.6% since 1993. The conversation touches on the impossibility of predicting stock markets and the psychological aspects that differentiate successful investors from the herd. Rochon also discusses evaluating brand strength with examples like McDonald's and Lululemon, emphasizing a thoughtful approach to navigating market declines and valuing companies.
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Quick takeaways
- Success in investing requires patience, humility, and rationality as emphasized by François Rochon.
- Avoiding attempts to predict the stock market and focusing on understanding businesses are essential for long-term success in investing.
Deep dives
The Importance of Patience, Humility, and Rationality in Investment Approach
Fran Schwa-Roshan's investment approach is rooted in patience, humility, and rationality, which have been critical to his success. He emphasizes the significance of patience in the investment business, highlighting how humility plays a crucial role in recognizing the unpredictability of the stock market and the economy. Rationality is key to focusing on productive investment activities, such as finding companies within one's circle of competence and acquiring them at attractive levels.
