Thomas Russo: "Global Value Investing" | Talks at Google

“I consider myself to be a farmer—not a hunter. And I think most people on Wall Street are hunters. They like to fell big beasts and I’m very comfortable planting a few rows and just tending to them carefully.” - Thomas Russo About the Talk Mr. Russo looks forward to describing how that in his pursuit of long-term tax-deferred investment returns that he has favored investments in businesses whose global brands are well-position companies for reinvestment of mature market free cash flow into developing and emerging markets. Mr. Russo’s businesses accordingly possess the “capacity to reinvest” and managements who have the “capacity to suffer” when investments properly intended for longest term increase in intrinsic value on a per share basis burden as they often do, reported earnings in the near term. This tradeoff between near-term pain and long-term gain is at the heart of his investments when properly executed, the benefit for taxable investors is the ability to build portfolio companies whose return are long term and tax deferred. About the Speaker Mr. Thomas A. Russo is the Managing Member of Gardner Russo & Gardner LLC, where he oversees $10 billion of “global value” equity investments invested through Semper Vic Partnerships as well as separately managed accounts. Mr. Russo is a Graduate of Dartmouth College (BA, 1977), and a Graduate of Stanford Business and Law Schools (MBA/JD, 1984). Memberships include Dean’s Advisory Council for Stanford Law School, Dartmouth College’s President’s Leadership Council, Heilbrunn Center for Graham & Dodd Investing (Columbia), Facing History and Ourselves, Winston Churchill Foundation of the United States, Storm King Art Center.

Comments

1. Thank you for a good video
2. Where'd you get/sup with the Google SC t-shirt?
3. This lecture could have been so much better...also disappointed.
4. Very disappointing. I had high expectations from this video. Russo is successful investor. He could have described his investment process in entirety. He only focused on qualitative- great bands, mature stable business, global players etc. But he did not explain and no one asked when he enters into such stocks and when he exits? We all know at least few great businesses and brands...the key point is entry at right valuation. How does he value any business/stock? Does he have list of stocks and their fair values ready in database OR he gets attracted to a stock when a great business suffers temporary problems and price is hammered. Meaning When does he analyze the stock in detail- ahead of time OR when the price is crashed due to some issue? This session could have been so much more informative. It will help if Google guys do prior research on speakers and at least have few standard questions covered in their Q&A.
5. sometimes we should scare them so they do not know that I'm telling the truth or a joke, it is one strategy to the enemy could not guess there are advantages