Season

BUYING INTO FEAR: A FINANCIAL THOUGHT LEADER & FUND PIONEER EXPLAINS HIS CHEAP DIVERSIFIERS STRATEGY

September 30, 2022

Volatility is the name of this market’s game. The Dow and S&P 500 both entered bear markets this week, although they both put up a brief fight with a robust rally on Wednesday. Yields on U.S. Treasury securities also bounced around. 

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WARREN BUFFETT’S ENDURING INFLUENCE IS EXPLAINED BY SUCCESSFUL GLOBAL VALUE INVESTOR TOM RUSSO

September 23, 2022

Part 2 of 2

This week’s guest is a longtime holder of Berkshire stock and has been an avid student of Buffett’s style of value investing since meeting the legendary investor at Stanford Business School in the early 1980s. He is Tom Russo, managing member of the investment advisory firm Gardner Russo & Quinn, where he oversees the Semper Vic Partners Funds, which he launched in 1983 after hearing Buffett address his class at Stanford.  

The global value manager focuses on owning a small group of exceptionally well-managed, well-known brand name firms, many family-owned, with dominant, almost unassailable positions in their mostly consumer-oriented businesses, and then holding them pretty much forever. Berkshire Hathaway has consistently been one of his largest positions. In this weekend’s interview, we will learn how Buffett’s talk in graduate school made such a huge impression on him. 

Part 1 on portfolio concentration is available here.

WEALTHTRACK Episode #1913 broadcast on September 23, 2022

Listen to the audio-only version here:

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THOMAS RUSSO

  • Managing Member & Portfolio Manager, Semper Vic Partners
  • Managing Member, Gardner Russo & Quinn

ACTION POINT

NEVER RISK GETTING CAUGHT SHORT OF CASH 

  • Cash is king when you need it
  • Have a stash on hand to meet emergencies & opportunities 

BOOKSHELF


ONE INVESTMENT

GROWING GLOBAL VALUE

Buy Nestle SA Sponsored ADR (NSRGY)


STOCK MENTIONS

Berkshire Hathaway Inc Cl A (BRK.A)

Nestle SA Sponsored ADR (NSRGY)

Pernod Ricard SA ADR  (PRNDY)

Compagnie Financiere Richemont SA (CFRUY)


FROM THE ARCHIVE

Tom Russo from the WEALTHTRACK Archives:

More Discussion about Warren Buffet:


WEB EXTRA

CHURCHILLIAN INSPIRATION

Global value investor Tom Russo explains how a visit to Churchill’s war rooms in London inspired him to get involved in the Winston Churchill Foundation of the United States. Founded in 1959 with Churchill’s approval, the foundation provides scholarships to American students for advanced research studies at Churchill College, Cambridge.

INFLATION’S DAMAGE: FINANCIAL CONSEQUENCES & INVESTMENT STRATEGIES WITH HISTORIAN JAMES GRANT

September 16, 2022

How times have changed. It wasn’t many months ago that the entire financial world was singing the praises of inflation. The greatest fear among Wall Streeters and other financial lights was lower prices that might actually decline more and turn into that monster known as deflation. The thought conjured up nightmarish scenes of bread lines and bank runs. 

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THE NEW INVESTMENT OPPORTUNITIES BEING DISCOVERED BY AWARD-WINNING FPA NEW INCOME FUND

September 9, 2022

The bond world changed dramatically in 2022.  From several years of historically low to negative interest rates, as far as the eye could see, the horizon is now filled with rising rates across the globe. It’s a welcome change for yield-starved investors and fixed-income managers who have been coping with a record breaking yield drought. 

One of them is this weekend’s guest who recently reopened his fund to new investors because of the “improved opportunity set.” He is Tom Atteberry, now Senior Advisor to FPA New Income Fund having just retired, as planned, from his portfolio manager duties in July of this year.  He had been Portfolio Manager of the fund since 2004. 

Atteberry will discuss why they have reopened the fund and where they are investing now. He will also share his current preference for asset-backed bonds over Treasuries and corporates.

   

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WHY INFLATION IS NOW KEY TO INVESTING WITH BRANDYWINE GLOBAL’S JACK MCINTYRE

September 3, 2022

Global bond manager Jack McIntyre says central banks around the world are determined to stamp out inflation. Their success will determine the direction of markets and economies. He explains how he is investing for several outcomes.    

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