Motley Fool Money Interview with Tom Slater, Head of U.S. Equities at Baillie Gifford
25 snips
Sep 7, 2025 
Tom Slater, head of U.S. Equities at Baillie Gifford, discusses the keys to long-term investing. He emphasizes the need to identify standout market winners and maintain a disciplined mindset through market fluctuations. Slater explores the dynamics of founder-led companies like Tesla and shares insights into innovative strategies that tap into emerging e-commerce markets. The conversation also highlights the importance of understanding organizational culture as essential for enduring success.
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Focus On Exceptional Long-Term Growth
- Baillie Gifford hunts for the world's most exceptional growth companies and holds them for long periods.
- They focus on what might go right and the potential upside rather than average outcomes.
Power Law Returns Favor Few Winners
- Over a roughly 10-year holding period returns concentrate in a small number of big winners.
- Chipping away at winners in the name of risk control breaks the structure of returns.
Ask Two Questions Before Trimming Winners
- Ask whether the company's opportunity has grown and whether the likelihood of capitalizing on it has increased.
- Only then evaluate valuation and risk before trimming a position.
