William Green chats with British investing legend Terry Smith. Terry, a member of Bloomberg’s index of billionaires, manages the Fundsmith Equity Fund, which is the UK’s largest stock fund. Since 2010, it’s returned more than 600%, beating the MSCI World Index by over 200 percentage points. Here, Terry talks in depth about the skills, personality traits, & principles that catapulted him from poverty to the pinnacle of the investing world.
WHAT YOU’LL LEARN HERE:
00:00:00 – Intro
00:01:20 – How Terry Smith was shaped by poverty & violence.
00:25:12 – How he achieved fame by exposing financial deception.
00:37:35 – What he looks for when identifying great businesses.
00:45:13 – Why many of his favorite companies are 100 years old.
00:51:30 – Which sectors he shuns & which he likes.
00:57:12 – How Microsoft embodies what he loves in a business.
00:59:12 – Why it’s worth paying up for the best companies.
01:13:37 – Why the US is his favorite place to invest.
01:25:24 – How being a CEO made him a better investor.
01:39:34 – Why he refuses to speak with brokers or read their research.
01:42:24 – Why it’s hard to be successful professionally & personally.
01:56:59 – Why he’s deeply skeptical about Tesla.
Transcript & Guest Info: https://www.theinvestorspodcast.com/richer-wiser-happier/billionaire-brit-w-terry-smith/
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RELATED EPISODES:
– Investing for Growth & Lessons from Terry Smith: The Warren Buffett of Britain: https://youtu.be/rc9EiTNlEmo
– What I’ve Learned From Warren Buffett & Charlie Munger w/ Chris Davis: https://youtu.be/Oeo66H4lM-g
– Buffett, Munger, Bitcoin & More! w/ Ray Dalio, Bill Miller, Chris Davis & Michael Berg: https://youtu.be/L5gPG0Ptgio
BOOKS MENTIONED:
– Investing for Growth by Terry Smith: https://amzn.to/42KiNGw
– Accounting for Growth by Terry Smith: https://amzn.to/42Kp6tS
– Richer, Wiser, Happier by William Green: https://amzn.to/426wpeY
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⚠️ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.
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