Investing by the Books

chevron_right

#85 Chris Mayer: The Investor’s Odyssey

Jun 30, 2026

Guest

Chris Mayer

Chris Mayer, investor, author, and manager of Woodlock House Family Capital, reflects on long-term, compounding-focused investing. He compares The Investor’s Odyssey with 100 Baggers. Topics include brutal stock drawdowns, resisting media sirens and price-checking, the mechanics of compounders and serial acquirers, discipline in reinvestment, and how he uses AI in his research workflow.

49:45

forum

Ask episode

web_stories

AI Snips

view_agenda

Chapters

menu_book

Books

auto_awesome

Transcript

info_circle

Episode notes

question_answer

ANECDOTE

Plane Conversation That Redefined Long-Term Holding

Chris Mayer met a longtime Buffett partnership investor on a plane who had rolled her money into Berkshire and simply held it for decades.
She lived modestly in Nantucket and now gives Berkshire shares to her grandchildren, illustrating wealth from buy-and-hold simplicity.

insights

INSIGHT

Top Stocks Still Have Massive Drawdowns

Even the best compounders suffer severe drawdowns frequently, often 50%+ during successful multi-year runs.
Mayer cites studies and examples (Apple, NVIDIA, Meta) showing deep peak-to-trough losses are typical and must be expected to hold long term.

volunteer_activism

ADVICE

Resist Quarterly Result Noise

Resist media-driven turnover by avoiding obsession with quarterly results that exaggerate short-term noise.
Mayer warns quarterly bumps often look major but are minor over decade-plus horizons, so avoid letting them drive trades.

Get the Snipd Podcast app to discover more snips from this episode

Chris's investing origin story

01:23 • 2min

chevron_right

Becoming a professional money manager

02:57 • 2min

chevron_right

Five years since 100 Baggers

05:02 • 1min

chevron_right

What The Investor's Odyssey covers

06:11 • 1min

chevron_right

Contrast with 100 Baggers

07:12 • 58sec

chevron_right

Influence of Chuck Akre

08:10 • 3min

chevron_right

Homer's Odyssey and personal history

11:00 • 2min

chevron_right

Story of the Nantucket investor

Personal worst drawdowns

17:29 • 47sec

chevron_right

Resisting the sirens of media

18:15 • 2min

chevron_right

Don't check prices obsessively

20:16 • 2min

chevron_right

Focus on business fundamentals

22:15 • 2min

chevron_right

Language matters in investing

24:09 • 2min

chevron_right

What great businesses do with profits

25:47 • 17sec

chevron_right

Serial acquirers as reinvestment solution

26:04 • 2min

chevron_right

Halma's simple repeatable model

28:11 • 60sec

chevron_right

Diversification inside serial acquirers

29:11 • 2min

chevron_right

Business survival essentials

31:16 • 2min

chevron_right

Fund survival and investor selection

33:00 • 1min

chevron_right

AI in the research workflow

34:11 • 1min

chevron_right

AI hasn't expanded holdings much

35:26 • 57sec

chevron_right

How Chris finds new ideas

36:23 • 1min

chevron_right

Geographical exposure limits

37:29 • 1min

chevron_right

Position sizing and letting winners run

38:29 • 2min

chevron_right

Ambitions for the next decades

40:44 • 1min

chevron_right

Books shaping Chris recently

41:47 • 4min

chevron_right

Best Odyssey translation

45:53 • 1min

chevron_right

Christopher Nolan's film and entertainment

47:08 • 1min

chevron_right

Will he write more books?

• Mentioned in 2 episodes

Silent Investor, Silent Loser

Martin Sosnoff

#32

• Mentioned in 394 episodes

The Iliad

Homer

The Iliad is an epic poem attributed to Homer, set during the Trojan War. It begins in the ninth year of the war, where a quarrel between King Agamemnon and the warrior Achilles sets off a chain of events. The poem explores themes of heroism, honor, and fate as it describes the battles and interactions between Greek warriors like Achilles, Diomedes, and Odysseus, and Trojan warriors like Hector and Paris. The story is interspersed with divine interventions from Greek gods and goddesses, influencing the outcome of the war. The poem culminates with Achilles' reconciliation with Agamemnon and his subsequent rage against the Trojans, leading to the death of Hector and the eventual funeral rites for Patroclus and Hector.

• Mentioned in 834 episodes

The Odyssey

Homer

The Odyssey, attributed to Homer, is an ancient Greek epic poem that tells the story of Odysseus, king of Ithaca, and his ten-year journey home after the Trojan War. The poem explores Odysseus's encounters with various mythical creatures, divine interventions, and natural challenges. Upon his return to Ithaca, he must confront the suitors who have been vying for his wife Penelope's hand in marriage. With the help of his son Telemachus and the goddess Athena, Odysseus devises a plan to defeat the suitors and reclaim his throne. The poem is a reflection on human nature, loyalty, and the consequences of one's actions, and it remains a crucial component of ancient Greek literature and Western cultural heritage.

#27250

• Mentioned in 3 episodes

Plato: Complete Works

Plato

This volume includes the entire surviving corpus of works attributed to Plato in antiquity. It features outstanding translations by leading scholars, introductory essays by John Cooper and D.S. Hutchinson, meticulous annotation, and a comprehensive index. The collection covers a wide range of philosophical topics, including metaphysics, epistemology, ethics, and aesthetics, and is presented in a high-quality edition with fine paper and a sturdy cloth binding.

#141

• Mentioned in 185 episodes

Amusing Ourselves to Death

Public Discourse in the Age of Show Business

Neil Postman

In this book, Neil Postman argues that the contemporary world is more akin to Aldous Huxley's 'Brave New World' than George Orwell's '1984'. Postman contends that television's emphasis on entertainment has led to a decline in rational discourse and the trivialization of politics, education, and religion. He contrasts the print-based culture of the 19th century with the televisual culture of the 20th century, highlighting how the medium of television inherently promotes incoherence and triviality, turning serious information into a form of entertainment.

#5059

• Mentioned in 13 episodes

100 to 1 in the Stock Market

A Distinguished Security Analyst Tells How to Make More of Your Investment Opportunities

Thomas Phelps

In '100 to 1 in the Stock Market,' Thomas Phelps outlines a buy-and-hold investing strategy that focuses on identifying and holding stocks of companies with high growth potential for at least ten years. The book, written in 1972, analyzes over 350 stocks that increased significantly in value from 1932 to 1971 and identifies common characteristics of these successful companies. Phelps advocates for a patient approach, emphasizing the importance of not selling stocks to preserve wealth and pass it on to heirs. The book provides insights into long-term wealth creation and the identification of profitable business models without visible growth ceilings.

#7451

• Mentioned in 9 episodes

An Investor's Odyssey

Chuck Ocre

#35764

• Mentioned in 2 episodes

Humble on Wall Street

Martin T. Sosnoff

#16528

• Mentioned in 4 episodes

Dear Fellow Timebinder

Chris Mayer

#511

• Mentioned in 80 episodes

Odyssey

Homer

#28680

• Mentioned in 2 episodes

Ludwig Wittgenstein

The Duty of Genius

Ray Monk

This biography by Ray Monk provides a detailed and lucid portrait of Ludwig Wittgenstein, one of the most influential philosophers of the 20th century. The book intertwines Wittgenstein's life with his philosophical ideas, showing how his experiences and personal struggles shaped his work. It covers his early life, his influence by other thinkers like Tolstoy and Otto Weininger, his service in World War I, and his later philosophical contributions, including the Tractatus Logico-Philosophicus and the Philosophical Investigations. Monk's work humanizes Wittgenstein, revealing his relentless pursuit of truth, his ethical seriousness, and his complex personality.

#650

• Mentioned in 68 episodes

100 baggers

Christopher Mayer

We welcome back Chris Mayer to unpack his new book, The Investor’s Odyssey. How does it build upon the lessons of 100 Baggers? We dive into the realities of brutal stock drawdowns, the mechanics of compounders, and how Chris is leveraging AI in his investing process.

Stick around to the end for some fun detours into Homer, translations, and Christopher Nolan!

—————————————

Our conversation with Chris Mayer was recorded on 18 May 2026.

—————————————

For more info about the podcast, make sure to follow us on X: https://x.com/IB_Redeye. We love to hear your thoughts, so please rate and review us. And feel free to tell us about great authors, books, and investors. Thank you. /Eddie with team

—————————————

Episode Chapters

(00:00) Intro by Eddie

(01:30) Welcoming Chris

(01:47) When did Chris become an investor?

(05:02) Quick recap – the past 5 years

(06:19) Intro to The Investor’s Odyssey

(07:16) 100 Baggers vs The Investor’s Odyssey

(08:12) Chuck Akre’s impact on Chris

(11:10) The OG Odyssey

(12:48) On a plane to Omaha…

(15:16) Drawdowns and volatility

(17:28) Chris’ worst drawdown

(18:15) Resisting the Sirens

(20:07) Don’t check stock prices too frequently

(22:19) Focus on the business

(24:08) Pay attention to language

(25:47) What Chris likes about the Serial Acquirers model

(28:11) Lessons from Halma

(29:11) Diversification or a black box?

(31:17) Business survival

(33:02) Fund survival

(34:13) Chris’ use of AI

(35:27) The investable universe

(36:23) Idea generation

(37:29) Geographical exposure

(38:29) Position sizing and riding winners

(40:44) Chris’ investor ambitions for the next 10-20 years

(41:51) What Chris has read lately

(45:53) The best translation of the Odyssey

(47:13) Christopher Nolan’s new movie… The Odyssey

(48:11) Writing another book?

(48:36) Concluding remarks

—————————————

Books Mentioned

The Investor’s Odyssey – Chris Mayer
100 Baggers – Chris Mayer
Dear Fellow Time-Binder – Chris Mayer
100 to 1 in the Stock Market – Thomas Phelps
Odyssey – Homer
The Odyssey – Robert Fitzgerald translation
The Odyssey – Robert Fagels translation
The Odyssey – Emily Wilson translation
Iliad – Homer
Amusing Ourselves to Death – Neil Postman
Lessons from Century Club Companies – Vicki TenHaken
Plato: Complete Works
Silent Investor, Silent Loser – Martin Sosnoff
Humble on Wall Street – Martin Sosnoff
Ludwig Wittgenstein: The Duty of Genius – Ray Monk
The Odyssey – Daniel Mendelsohn
An Odyssey – Daniel Mendelsohn

—————————————

Companies Mentioned

Teqnion
Berkshire Hathaway
Apple
Meta
Halma

—————————————

Movies Mentioned

O Brother, where art thou? (2000)
The Odyssey (2026)

—————————————

More on Chris Mayer

X: https://x.com/chriswmayer

Woodlock House Capital website: https://www.woodlockhousefamilycapital.com/

—————————————

About the Podcast

Intro episode: https://www.redeye.se/podcast/investing-by-the-books/817383/0-intro-to-investing-by-the-books

—————————————

What is Investing by the Books?

Investing by the Books was founded by Henrik Andersson, Bo Börtemark, Mats Larsson and Michael Persson. It has published hundreds of book reviews in the past 10 years and operates on a non-profit basis.

Visit the website: http://www.investingbythebooks.com/

Follow on Twitter/X: https://twitter.com/Investbythebook

—————————————

What is Redeye?

Redeye is a research-centered boutique investment bank from Stockholm. Founded in 1999, Redeye cultivates investors through timeless knowledge, a humble attitude, and a strong focus on quality.

Visit the website: https://www.redeye.se/

Follow on Twitter/X: https://twitter.com/Redeye_

—————————————

Disclaimer

Notice that the content in this podcast is not, and shall not be construed as investment advice. This information is meant to be informative and for general purposes only. For full disclaimer, visit Redeye.se

Home Top podcasts Popular guests Top books Privacy Policy Terms of Use