The Art Of Investing w/ François Rochon (RWH016)

William Green chats with François Rochon, an investing giant who’s beaten the market by a mile over nearly 30 years. Here, François explains how he’s generated stellar returns by investing in great businesses at reasonable valuations. Whether he’s buying stocks or collecting world-class art, his strategy is to own the “best of the best.”

IN THIS EPISODE, YOU’LL LEARN:
00:00:00 - Intro
00:00:42 - How François Rochon began his market-beating investment journey three decades ago.
00:06:01 - How the “margin of safety” concept guides him in business, markets, & life.
00:10:38 - Why it’s critical for investors to have a long time horizon.
00:13:49 - How to become a better investor by cultivating humility & preparing for disappointment.
00:15:01 - How to succeed by investing in great companies at reasonable valuations.
00:17:04 - What he learned from Warren Buffett about the importance of owner’s earnings.
00:21:13 - Why François resists the temptation to overpay, even for outstanding companies.
00:24:54 - Why he highlights his investment mistakes in an annual list called the Podium of Errors.
00:32:54 - How to survive & thrive by taking a middle-of-the-road approach to diversification. 
00:34:50 - Why he believes that market predictions are a waste of time.
00:45:11 - How the president of Constellation Software embodies everything he seeks in a leader.
00:51:57 - How the best businesses remind François of the beauty & uniqueness of great artworks. 
01:06:08 - How François was influenced by studying & meeting investment icon Peter Lynch.
01:07:23 - What he learned from investing legend Lou Simpson.
01:13:01 - How the best investors succeed by straying from the tribe & forging their own path.
01:19:55 - How it helps him to read broadly about philosophy, art, science, history, and psychology.
01:23:42 - Why it’s rational, not naive, to be an unwavering optimist.
01:33:02 - Why François believes that persistence is the key to all great human achievement. 

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▶️ RELATED EPISODES:
- Investing In Uncertain Times w/ Joel Greenblatt, Bill Miller, Howard Marks, François Rochon:    • Investing In Uncertain Times w/ Joel ...  
- Investing in Quality Businesses & the Art of Lifelong Learning w/ Gautam Baid:    • Investing in Quality Businesses & the...  

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🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/r...

📖  BOOKS MENTIONED:
- The Intelligent Investor by Benjamin Graham: https://amzn.to/3TmqsCw
- Beating the Street by Peter Lynch: https://amzn.to/3DVBuJi
- The Science of Hitting by Ted Williams: https://amzn.to/3WKoyi1

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On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.

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