2025-01-19
1 小时 12 分钟You're listening to tip.
I think it's safe to say that today's guest, Andrew Martin, has crushed the S&P 500's total return since 2019.
In that time span, his fund, Fairlight Capital, has compounded at an impressive rate of 38% per annum, versus the S&P 500's rate of 16%.
Andrew first came into my radar for writing a piece on a business that we both hold in common.
However, after taking a deeper look into some of his other holdings and finding his impressive track record, I wanted to learn more about what he was doing.
We'll discuss the physical cue that Andrew uses to help him subconsciously identify when he comes across an investing opportunity with loads of potential.
If you've ever found a physical cue to help prompt you to go deeper into an idea, you're definitely going to resonate with this.
We'll also cover some of the common characteristics that Andrew finds in businesses that get Andrew excited to go down the rabbit hole.
Since Andrew has a PhD, I wanted to find out how he's used this to his advantage specifically in the world of investing.
And interestingly, he had this really novel mental model from his days in physics that have helped him think about why some of these excellent investment opportunities exist in the first place.
He also uses mental models to help identify catalysts that can bring sudden movements in a stock price both upward and downward.
This mental model can help you find hidden upsides in the market that hasn't yet been priced in, which is obviously a very, very valuable tool to have in your toolkit.
Another interesting theme I wanted to discuss in some detail was technology.
Andrew isn't the type of investor who's going to own the Magnificent Seven, but he's clearly thought very deeply about how the benefits of technology have helped reshape numerous businesses and industries.
We'll go over his thought process and he'll share a name that I think was thought of as a low tech business that is rapidly improving due to the adoption of new technologies.
Now, one thing that I highly respect from Andrew's background is his success in investing in Asian businesses.
Since I personally managed to fail at that, I always find it inspiring to speak with others who have succeeded specifically investing in that geography.
Andrew has a very particular strategy which I think helps him rotate capital to the best possible global market opportunities.
While the strategy might not be for everyone, it has wide ranging consequences as it will make you think about value and how it relates to capital allocation based on things such as geography and industries.
Now, without further ado, let's get right into this week's episode with Andrew Martin.