Tim Hanson didn’t set out to become a capital allocator.

Today he’s the President and CIO at Permanent Equity, helping steward long-term investments in private companies built to last. But his path to investing included playwriting, early stock picks, and lessons about money that started in childhood. Chris Hill talks with Tim about what separates investing from allocating capital — and why the distinction matters, as well as:
- The first stock Tim ever bought (and what he learned from it)
- How Permanent Equity thinks about holding businesses for decades
- Raising kids who understand ownership
- A surprising purchase that says more about capital discipline than you’d think
Opening clip – “Glengarry Glen Ross”

Looking for the best wrap-up of the day on Wall Street? Sign up for the free daily Brew Markets email at BrewMarkets.com/money
 
What’s the last thing you splurged on?
Share your story at [email protected]