.png)
Far From The Finishing Post
Far From The Finishing Post explores the ideas and practices of leading investors in an effort to continuously grow our collective knowledge. This podcast is intended for UK listeners only. The views and information contained within this podcast do not constitute investment advice and should not be used as the basis for investment decisions. Any reference to securities should not be construed as a recommendation to buy or sell these securities. Any opinions expressed are those of the relevant individuals and do not necessarily reflect the views of Troy Asset Management and may be subject to change without notice. Past performance is not a guide to future performance and the value of an investment may fall as well as rise.
Far From The Finishing Post
Gabrielle Boyle & George Viney (Troy) - Patient Improvement
Gabrielle Boyle and George Viney co-manage Troy’s Global Equity strategy. We discuss why the market persistently underestimates the compounding power of rare and exceptional companies, the importance of recognising one’s biases and striving to learn and improve as investors, and why Gabrielle and George work so well together as a team.
Show notes:
[01:26] Why the market persistently underestimates the compounding power of rare and exceptional businesses
[02:41] Companies don’t compound in a linear way
[05:09] Having the right environment to sustain success
[08:55] How Gabrielle and George complement each other
[10:35] The importance of having an inner critic
[12:45] Continuous improvement
[14:24] Combining resilience with reinvestment potential
[16:10] Characteristics of special businesses
[18:35] Sell discipline
[20:41] Minimising biases and ensuring accountability
[24:39] Balancing strong operational performance with fair valuations
[27:32] A concentrated portfolio with broadly diversified businesses
[29:17] Troy’s broader team
[30:57] Cognitive diversity with shared values
[33:04] Confidence in the future
[34:29] Back your conviction