Nov 24, 2021
The one and only David Gardner stops by The Business Brew for an interview Bill has been looking forward to for over a year. David is a Co-Founder of The Motley Fool. He is best known for his Rule Breaker investing strategy but Bill knows him as a person that forced Bill to contemplate how he looks at investing.
You can find David’s Rule Breaker podcast at https://www.fool.com/podcasts/rule-breaker-investing/,
follow him on Twitter at @DavidGFool, and sign up for The Motley
Fool at https://www.fool.com/. See
also his podcasts with Invest Like The Best
and Wealth Track
We hope you enjoy the discussion. Detailed show notes below the Stream by Mosiac sponsor copy and thank yous.
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Album art photo taken by Mike Ando. Please see https://www.mikeando.com/
Thank you to @mathewpassy (on Twitter) for the show production.
5:24 – David’s minimum investment time horizon
8:30 - What running a business did for David’s investments
14:30 - Rule Breaking for the long term
19:30 – David’s thoughts on investing vs. trading
27:40 - Interest rates and how they impacted Rule Breaker returns
33:56 - Remarkable CEOs that can scale public companies
40:40 - The importance of teams in investments
42:50 - The Snap Test
48:50 – How Paul Gardner helped the Motley Fool get started
53:00 – David points out that he picks a lot of losing stocks too!
55:00 – The importance of the willingness to hold
62:50 – Spiffy pops
66:45 – What is an New and Important Industry?
71:21 – Adding to winners
77:44 – Being comfortable with concentration
83:00 – Chasin’ Teenies (this is a stock term)
86:45 – Winner math
91:17 – Live backwards and pick stocks today
94:34 – The risk that private equity and venture capital capture returns that used to be available to public market investors.
96:30 – What is next for David Gardner?
105:00 – The difficulty of internet advertising