TIP771: Money Masters Of Our Time w/ Kyle Grieve

You're listening to TIP. Investors think in dogmatic terms when it comes to optimizing an investing strategy. However, as John Train illustrates in Money Masters of our Time, a variety of strategies have led to some of the greatest outperformers in history. As I explored the book, I noticed that while each investor had a unique approach, they all left very very valuable clues to their success. Many of these insights apply broadly to the art of investing, whether you're a long term value investor, a quality focused investor, a seeker of deep value plays, an activist, a speculator, or even a trader. In today's episode, we'll dive into the key lessons that I took from each investor that was profiled in this great book. You'll learn about Warren Buffett's concept of controlled greed and why it's so beneficial as long as you emphasize the controlled part of that equation. We'll explore why T. Rowe Price shifted away from his signature growth strategy only to return to it after facing widespread imitation. I'll share Jim Rogers affinity for making these large basket bets on emerging markets and his thought process for determining which ones were worth investing in. We'll also discuss why the size of a fund can hinder performance and why this is a crucial factor to consider when investing with top tier managers. Now one of my favorite takeaways is from the chapter that was on Peter Lynch. In this section, I'll explain why Lynch made well over 15,000 trades throughout his career and the critical insights behind his approach. While I wouldn't replicate his methods here, understanding his reasoning sheds light on how investors can think about position sizing when analyzing new investments. Now there's much to cover in this episode, but no matter your investing style, I'm confident you'll walk away with a fresh perspective on the fascinating world of investing. Now, let's jump right into this week's episode. Since 2014 and through more than 180,000,000 downloads, we've studied the financial markets and read the books that influence self made billionaires the most. We keep you informed and prepared for the unexpected. Now for your host, Kyle Grieve. Welcome to The Investor's Podcast. I'm your host Kyle Grieve, and today we're going to dig into some of the insights from some of the greatest money masters in history. We're going to look at a number of outperforming investors outlined in the book Money Masters of Our Time by John Train. Now instead of profiling each individual investor, I'm going to focus more on just timeless principles that I think can be adapted and applied to any intelligent investing framework. Now what I really enjoyed about this book was the vast array of strategies that were used in the investors who were outlined. Treyn says that investors that he picked come from just several different schools of investing, whether that be growth, value, technology, emerging markets, micro caps, turnarounds, top down, bottoms up, and so on. He …