We Study Billionaires - The Investor’s Podcast Network

RWH019: Winning the Long Game w/ John Spears

8 snips
Dec 25, 2022
Guest
John Spears
John Spears, managing director at Tweedy Brown, shares his passion for value investing, sparked at just 12 years old. He recounts the humbling lessons from an early investment disaster and the importance of tracking insider buying. The conversation reveals Spears' admiration for Warren Buffett and his preference for high-quality, albeit 'dull', stocks like Nestle. He emphasizes achieving satisfactory returns over chasing unrealistic profits while advocating for a debt-free lifestyle and global diversification in investments, all influenced by his Quaker values.
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ADVICE

Diversification Strategy

  • Diversify your investments to benefit from the law of large numbers and reduce overall portfolio risk.
  • However, allow for some concentration in high-conviction, high-quality businesses.
INSIGHT

International Investing

  • International investing presents compelling opportunities due to undervalued stocks.
  • Diversifying beyond the US market broadens the pool of potential bargains.
INSIGHT

Mature Market Opportunities

  • Mature markets like the UK and Switzerland offer surprising value opportunities for discerning investors.
  • Despite negative narratives, cheap stocks with insider buying can be found in these markets.
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