Intelligent & Rational Long-Term Investing w/ François Rochon (TIP626)

Clay is joined by François Rochon to discuss how he’s managed to vastly outperform the market over the past 30 years. Since he started the Rochon Global Portfolio in 1993, his annual returns net of fees have been 13.6%, versus 9.2% for the benchmark.

François’s investment approach is firmly rooted in three principles — patience, humility, and rationality — which are discussed in depth during this conversation.

IN THIS EPISODE YOU’LL LEARN:
00:00:00 - Intro
00:01:18 - The First Hire
00:04:51 - Investment Principles
00:08:56 - You Can’t Predict the Market
00:19:11 - The Tribal Gene
00:24:43 - Stock Market Declines
00:28:11 - Investment Mistakes
00:37:45 - Berkshire Hathaway
00:41:58 - Lululemon
00:45:34 - Intrinsic Value
00:52:45 - Overconfidence
00:58:48 - Favorite Books
01:01:45 - Passion & Investing

▶️ RELATED EPISODES:

📖  BOOKS MENTIONED:

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On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market.

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[ChrisBrew-su]

Thank you Francois and Clay, I listen to almost all of the podcasts on this channel, but this was one of the more enjoyable episodes. Francois sounds like a true gentleman and is clearly an icon of his field. We are blessed to have the opportunity to learn from humans such as him 🙏

[mg.f.]

Always enjoy your podcast. Real treasure of knowledge.

[vonb]

I like François Rochon, just watched His fund partnership assembly. (Client here). His book is a easy Delight to Read with pictures. Merci pour l'entrevue. Vos conférences sont toujours un plaisir

[davidglad]

Another great podcast. On that McDonald's story, I read Grinding It Out (should read it again), loved The Founder. As for that expansion story of Sonneborn being too cautious, expecting a recession, I have read other books that hinted there are advantages to DOING THE OPPOSITE of what would be expected under the market conditions or by your competitors. In McDonald's case, they clearly became too dominant by doing that and surely learned lessons on being cost effective even under lousy conditions. Although bleak situations like late 2008 are among the handful of situations where that's not a good idea. At least if you're relying on banks.

[KamilMauel]

François is the only really consistent market beater here. Not like Guy or Monish who reap the benefit of the lucky start. Moreover he passed the 30 years mark - investors killer. Fingers crossed, popcorn and watch…

[worldtravel]

Great discussion. Mind set is the key thing.