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The Education of a Value Investor
Building a Robust Investment Strategy: Insights from Tobias Carlisle
Sep 18, 2024
Tobias Carlisle, an Australian investor and the founder of Acquirers Funds, shares his compelling journey from corporate law to value investing, inspired by Warren Buffett. He discusses the importance of risk management and contrasts exchange-traded funds with mutual funds. Carlisle delves into his investment philosophy, emphasizing disciplined portfolio management and the struggles of behavioral biases. He also reflects on the challenges of writing and publishing, and shares insights into his literary inspirations, linking historical fiction to contemporary issues.
01:05:26
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Quick takeaways
- Tobias Carlisle transitioned from a corporate law career to value investing after recognizing the disconnect between cash flow and accounting earnings during a significant capital raise.
- He highlighted the advantages of structuring investment funds as ETFs to enhance accessibility and liquidity, overcoming legal complexities that delayed investor attraction.
Deep dives
Transition from Law to Investment
A significant transition in career path occurred as the speaker moved from law to investment after realizing the long hours and pressures in the legal field were unsustainable. The speaker detailed their start in a corporate law environment, handling mergers and acquisitions and gaining experience through hands-on responsibilities, such as managing data rooms. Their interest in finance was sparked by recognizing the disconnection between cash flow and accounting earnings during a telecommunications company’s capital raise, prompting them to seek understanding of investment strategies. This journey culminated in a shift toward value investing, influenced heavily by their study of notable investors like Warren Buffett.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode