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

Poor Charlie’s Almanack:
The Wit and Wisdom of Charles T. Munger

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.