Global Value Investing | Thomas Russo | Talks at Google

Thomas Russo describes the important ingredients of his tax-efficient, long-term buy-and-hold approach to “global value” equity investments. He touches upon the two aspects most important to his investments:
1. Reduction of Agency Costs
2. The “Capacity to Reinvest”
Mr. Russo’s presentation, in addition, focuses on factors which form a sort of checklist which Mr. Russo observes when attempting to reduce risks in his search for global returns.
Mr. Russo addresses a handful of investments which failed to deliver expected returns, believing that as Mr. Buffett is prone to say that ‘good decisions come from good judgment, and good judgment comes from bad decisions'.
Finally, Mr. Russo shares some personal reflections from his professional lifetime of “global value” equity investments. Such references cluster around the “Big Cs”:
1. Compound Interest
2. Character
3. Culture
4. Capacity to do Nothing
About the speaker:
Thomas Russo was born in 1955 and grew up in Titusville, Pennsylvania, a small town best known as the birthplace of the oil industry. He graduated from Dartmouth College with a degree in history in 1977 and from Stanford University with degrees in law and business in 1984. He then joined Ruane, Cuniff & Goldfarb, where he worked on the firm’s flagship Sequoia Fund. In 1989, he joined Gardner Investments (now Gardner Russo and Gardner), a Pennsylvania-based firm catering mostly to high-net-worth individuals, where he manages the Semper Vic investment partnership.

[@tensevo]

These Google talks are all fantastic. I have learnt so much more than I ever did at college.

[@ajitnair9705]

¹

[@brunorobertdeschamps1093]

Congratulations to Thomas Russo for sharing his views with us.

[@jatinagarwal17]

i see a lot of seats empty when these investors come to speak and then we see people crying and regretting when they don't have much money. its just sad to see this. anyway, more the number of people are unaware about wealth, more concentrated it is going to get.

[@AnkurParikh81]

"At Kraft Foods, they speak 0.9 languages".

[@Xyz19781i]

he is very very very insightful, especially he thinks so global, cultural etc etc

[@Xyz19781i]

very interesting ....as always

[@carlolocci5148]

At the end of the day I will always love this company and his people.

[@tobefreeandfly1549]

Good teaching about investing in Talks at Google that I didn´t know...Russo is brilliant and got good insight.

[@BorisGligorijevic]

Why are so many seats empty? Sad.

[@hyungwookhamm3903]

Great case study on Heinekin

[@paulmartin42]

Not got to that particular booze section but Jack Daniels seems to be doing well with product placement upto 22mins

[@washfi]

THANKS

[@millonariosanonimos1609]

Thanks for another great video!!! Any chance you can get Peter Lynch on stage?

[@moniquefrench]

Ditto!

[@unknownchannel3141]

Yep

[@MinorityMans]

Great talk but I think he got the "invert" explanation wrong. Its thinking about the outcome you don't want and what actions will get you there, and then doing the opposite of those things.

[@ericclarkbrandsmatter4920]

I run a global Brands Index and portfolio as well but we track "lifetime spending" versus just traditional consumer Brands. Strong returns are possible when you buy the right brands at the right price. Would love to participate in a talks at Google presentation. Consumer spending drives every major economy so the top brands that serve the consumer across a lifetime of spending should thrive

[@mahabubalam574]

Good 👏👏👏

[@vijetarvindpatil7579]

Thank You Google

[@manfredimarozzi7546]

“The way they make MENEGEMENT”

[@nbme-answers]

1:34

[@chezJoel58]

thomas russo m a escroqué