In this episode, we sit down with Matthew McLennan, Head of the Global Value team at First Eagle Investments, in his New York City office for a rare, wide-ranging conversation on investing, temperament, and compounding wisdom over time.

Matthew shares stories from his childhood in rural Queensland, lessons from mentors at Goldman Sachs in both Sydney and London, and what he learned stepping into senior leadership at First Eagle during the GFC in 2008.

We explore:

• How his early mistakes shaped his discipline
• The lessons he learned in the Asset Management Team at Goldman Sachs
• Why patience, humility, and temperament are undervalued in modern markets
• The rise of passive and AI investing — and what it means for value investors
• His best advice to his younger self

A rare conversation with one of the most thoughtful investors of our time.

This episode was recorded on 19 September 2025.