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Rick Buhrman & Paul Buser - Find Your X, Nurture Your N - [Invest Like the Best]

First published

10/09/2023

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business

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Summary

This is Rick Buhrman and Paul Buser. If you've listened to our Art of Investing trailer, then you'll already know that it was Patrick O'Shaughnessy who first got us into this whole crazy podcast mess. We recently went on Patrick's show, Invest Like the Best, and wanted to share it to give you a better sense for Art of Investing's ethos and vision. Please enjoy our conversation with the very 'grovey' Patrick O'Shaughnessy. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- This episode is brought to you by Tegus. Tegus, the modern research platform for leading investors. Tired of running your own expert calls to get up to speed on a company? Tegus lets you ramp faster and find answers to critical questions more efficiently than any alternative method. The gold standard for research, the Tegus platform delivers unmatched access to timely, qualitative insights through the largest and most differentiated expert call transcript database. With over 60,000 transcripts spanning 22,000 public and private companies, investors can accelerate their fundamental research process by discovering highly-differentiated and reliable insights that can’t be found anywhere else in the market. As a listener, drive your next investment thesis forward with Tegus for free at tegus.co/patrick. ----- Invest Like the Best is a property of Colossus, LLC. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.  Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @ArtofInvest | @Buhrman_Rick  | @PaulBuser | @patrick_oshag | @JoinColossus Show Notes (00:04:00) - (First question) - Shifting from Notre Dame to Sator Grove, preserving integration and embracing change (00:07:50) - An overview of Sator Grove (00:13:19) - Launching in April 2021, they manage $300M for diverse, flexible investments (00:17:17) - Investing in meaningful projects with trust, long-term focus, and high potential (00:22:59) - Investors who they feel are dedicated to a greater purpose (00:27:00) - Why Mitch Rales, Sator Grove's largest shareholder, embodies insatiable curiosity and lifelong learning (00:31:39) - Learning from great investors by studying their strategies and evolution (00:41:03) - Embracing change, adapting, and experimenting for success (00:43:19) - How investors learn from failed companies and guard against survivorship bias (00:53:39) - Investment success hinges on talent's judgment, character, adaptability, and trust (00:58:23) - What they found concerning in firms and teams when assessing managers (01:03:46) - Analyzing asset allocation challenges, including short horizons and over-diversification (01:08:09) - Teaching compounding's power in everyday life and fostering disciplined habits for growth (01:14:36) - The importance of nurturing compounding and learning throughout one's life (01:22:51) - Creating meaningful connections and providing lifelong lessons (01:28:38) - Wisdom from their mentors and its impact on their investing philosophy (01:45:19) - Defining the good life: Quality projects, quality people, and meaningful integration (01:46:59) - The defining moments of their investing careers so far (01:49:29) - The kindest thing anyone has ever done for them

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Art of Investing

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