Talk Your Book: Compounding with Concentrated Portfolios

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Aug 7, 2023

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INSIGHT

Value of Behavioral Investing

John Neff’s introduction to investing was through Warren Buffett and his influences, including Benjamin Graham.
He believes that "The Intelligent Investor" remains relevant due to its focus on investor behavior.

INSIGHT

Qualitative vs. Quantitative Analysis

While quantitative analysis is important, qualitative understanding of a business’s competitive advantage is crucial for long-term investing.
True understanding of a company's "greatness" may not always be reflected in the numbers.

INSIGHT

Concentrated Investing and AI

AKRE Capital Management’s concentrated portfolio intentionally avoids the top 10 S&P 500 companies.
They believe that predicting the long-term impact of AI and its beneficiaries is challenging.

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On today's show, Michael and Ben are joined by John Neff, Partner and Portfolio Manager of AKRE Capital Management to discuss: the AI investing craze, the creation of fundamental analysis, compounding returns with Warren Buffett, running a highly concentrated portfolio, and much more!

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Ben Carlson’s A Wealth of Common Sense

Michael Batnick’s The Irrelevant Investor

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