

Todd Ahlsten - Durable Moats & Increasing Relevance
13 snips Apr 22, 2025
Todd Ahlsten, Chief Investment Officer at Parnassus Investments, shares his journey from intern to investment leader managing $46 billion. He dives into the semiconductor industry's dynamics and the significance of durable competitive advantages in investing. Todd highlights John Deere's resilience amid market fluctuations and Waste Management's competitive edge through AI integration. He discusses essential traits for successful management teams and the evolving relevance of investments in light of AI advancements, offering valuable insights for aspiring investors.
AI Snips
Chapters
Transcript
Episode notes
Early Investing Spark
- Todd Ahlsten's interest in investing sparked at age 13 from his pilot dad's stories about corporate raiders.
- This personal exposure led to reading the Wall Street Journal daily and a lifelong investment journey.
Filter Signal From Noise
- Connect daily news to your investment process to identify true signals from noise.
- Focus on impacts to a company's durable moat and long-term relevancy to filter meaningful information.
Moats Plus Relevancy Equals Growth
- Combining durable moats with relevancy drives both downside protection and compounding growth in portfolios.
- Different stocks play roles as quality compounders, defensive, or offensive, creating structured asymmetry in returns.