The Meb Faber Show
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Francois Rochon - Outperforming the Market for 30+ Years Through Patience, Humility & Rationality | #578
Today’s guest is Francois Rochon, the President of Giverny Capital, which has returned over 15% per year for over 30 years. In today’s episode, Francois walks through the influence of Peter Lynch and Warren Buffett on his investment philosophy. He highlights three principles that have helped him navigate market cycles in his career: patience, humility and rationality. We also walk through some of the lessons learned from his investment mistakes, which he highlights in his annual letters.
Key Points
- Francois Rochon's investment philosophy focuses on long-term compounding by owning companies with strong intrinsic value growth and competitive advantages.
- He emphasizes the importance of humility and patience in investing, acknowledging that not all investments will perform as expected and that market corrections are inevitable.
- Rochon advises being quick to take losses on underperforming stocks while being reluctant to sell winners, as holding onto successful investments can significantly enhance long-term returns.
Chapters
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Transcript
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