Bill Browder is a human rights activist who championed the Magnitsky Act, signed into law by President Obama. It not only sanctions Russians, but others around the world. Similar legislation is now in place in over 30 countries. He is also a bestselling author and former hedge fund manager.

In this episode, we talk about his career, about how he coped with a 90% fall in the value of his fund, about how he subsequently engineered a 37x recovery for the portfolio, about his deportation from Russia and how he subsequently secretly cashed in the gains and returned the cash to investors.

And of course we talk about the events that led up to the tragic death of his lawyer and friend Sergei Magnitsky.  

Warning: Listeners may find some of this discussion upsetting.

Disclaimer: Bill's views are his own and do not reflect the views of this podcast.

Show Notes

In this fascinating discussion, Grant explains his fascination for Japan and why we should all pay attention. We discuss US Treasuries, and why there is a risk that the current glut of supply could meet a dearth of buyers. And of course we talk about gold as well as how Grant has built a financial media empire.

Show Notes

James Aitken is an expert in the plumbing of the financial system. We go on a world tour of the hotspots in global finance. You will learn why James is relaxed about the US; why the Japanese government will Make Japan Great Again and why this could have serious repercussions for global bond markets; and why China will likely muddle through, in spite of massive problems in its property sector.

Show Notes

Sebastian Lyon is a conservative investor who manages two highly successful multi asset funds. His motto is simple over complex and he is intent on protecting the downside. In this interview, we discuss his views on markets (spoiler: not super bullish); how he built Troy into a significant asset management business from scratch; how he has managed his fund to deliver only 3 down years in 20 and create outstanding performance as a consequence; what he looks for in stocks; why he invests only in quality companies; and why he owns gold.

Show Notes

Bill Smead has been in the investing business for over 40 years and has seen multiple cycles. He has an idiosyncratic investing philosophy which seeks to buy high quality stocks when they are out of favour.

And he explains how to handicap a greyhound!

Show Notes

Alec Cutler runs one of the best performing low risk global funds and has a pragmatic investing  approach. In this interview, we discuss inflation and markets and what this means for stock selection. Alec explains his views on what makes for a successful investment team. And he explains the principles of investing he learned as a child from his grandmother, which still guide his investing

Show Notes

Guy Spier is a successful value investor and has spent

We discuss why the best ideas are simple, yet analysts always want to impress with their understanding of complex situations. Guy talks about his university chums, David Cameron and Chris Hohn and why his father entrusted his life savings to a young man with no investing experience and how that has coloured Guy’s investing approach. And of course we discuss that lunch with Warren Buffett.

Show Notes

Beth Lilly is a highly successful value investor and an amazing woman. She has set up two asset management firms, worked with and learned from some of the most famous and some of the most successful value

We discuss the power of compounding, Beth’s research process

Full show notes here.

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William Green is the author of Richer Wiser Happier, an outlier in investing books as a best-seller. He is a craftsman and a perfectionist and having interviewed 40 of the world’s top investors for the book, has some fascinating perspectives on investing and on life.

We split this interview into two parts. Last time we heard Green explain that the great investors are such thoughtful practical philosophers because they are students of life. Green quotes Munger who says that he watches what works and what doesn’t work and learns from it.

In this second half, you will learn what Charlie Munger said about Green’s book (Spoiler – he liked it, a lot); how to be a good interviewer, this is instruction from one of the best practitioners of the art; and why William thinks that no matter the endeavour, being just a little weird helps in life.

Show Notes

William Green is the author of Richer Wiser Happier, an outlier in investing books as a best-seller. He is a craftsman and a perfectionist and having interviewed 40 of the world’s top investors for the book, has some fascinating perspectives on investing and on life.

Green always wanted to be a writer and studied English Literature at Oxford. He fell in love with markets, partly as he saw it as “a smart alec short cut way of making a living without doing too much work”. He had his first article published almost by accident and ended up as a journalist. Interviews with great investors followed.