Opto Sessions – Invest in the Next Big Idea Kiril Sokoloff - Lessons From One Of The Greatest Investors Of Our Time
Theme-Driven, Concentrated Investing
- Kiril Sokoloff invests by identifying long-term themes that solve economic problems rather than timing cycles.
- He concentrates research and capital where a theme is the “next big thing.”
13D Filings Launched 13D The Firm
- Sokoloff began 13D by using 13D filings to spot contrarian takeover targets in the 1980s.
- His firm had 176 recommendations taken over, launching their reputation and strategy.
Stay Humble And Flexible
- Be humble and flexible: adapt positions as markets change and avoid being a hero in dangerous environments.
- Survive the bear market first before seeking big gains.
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This week I have the great honor of welcoming the distinguished investor Kiril Sokoloff, CEO & Founder of 13D which he started back in 1983.
Kiril is an original thinker who has achieved phenomenal success over his decades of investing, often by going against the consensus. He is also a big advocate of thematic investing and has said “Over the last 40 years I don’t think we missed a single major technological transformation”.
In the late 1970s, he correctly anticipated an inflationary blow-off due to the fall of the Shah in Iran. In the early 1980s, he foresaw a period of disinflation and an ensuing takeover boom that nobody was prepared for. His firm became the expert in 13D filings and between 1983 and 1986, 175 of his firm’s recommendations were taken over. He then understood the great opportunity China in 1992 represented and co-founded the first pure Asian hedge fund during a period when the Hang Seng rose from 4900 to 12000. This was followed among over achievements by investing in internet and e-commerce companies in the 90s pre dot com crash and Oil in 2002 when it was only $20 dollars, riding the trend to over $140 at its peak in June 2008.
In this interview, we discuss the current macro environment and the intricacies of his investment strategy including theories on Anomalies and Contagion plus the implications of the new world order and rethinking supply chains.
This is one of my favorite interviews. Kiril is one of the few great investors of our time.
13d.com
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Enjoy
Thanks to Cofruition for consulting on and producing the podcast. Want further Opto insights? Check out our daily newsletter: https://www.cmcmarkets.com/en-gb/opto/newsletter
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