We Study Billionaires - The Investor’s Podcast Network TIP592: Outperforming the Market since 1998 w/ Andrew Brenton
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Dec 8, 2023 In a discussion with Andrew Brenton, CEO and co-founder of Turtle Creek Asset Management, listeners learn about the firm's impressive 20% annual return since 1998. Andrew explains how his background in private markets shaped his public investing strategy. He shares insights into Turtle Creek’s focus on mid-cap companies, the risks of overpaying, and their unique approach to value investing. Case studies, such as Automation Tooling Systems, highlight their disciplined portfolio management and commitment to continuous improvement.
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Background and Market Inefficiency
- Andrew Brenton's background in M&A and private equity shaped his approach to public markets.
- Working with companies directly revealed market inefficiencies, giving him an edge.
Unique Approach to Value Investing
- Brenton developed his value investing approach through direct experience, not by studying others.
- He emphasizes a fundamental approach based on the present value of cash flows.
Finding the Right Company
- Find unique, one-of-a-kind companies.
- These are more likely to be mispriced, offering greater investment opportunities.