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Emmet

๐Ÿ‘ค Speaker
1108 total appearances

Appearances Over Time

Podcast Appearances

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

life of a city that you and i mike would unlikely ever visit anyway so uh greg abel has three adult children from his first marriage and a younger son with his current wife andrea he coaches youth hockey he very inconspicuously gives through a family foundation and is very famously protective of his time

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

The guy is Swiss watch like in his time.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

Now, with that said, inside Berkshire, he's fully known as a workaholic.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

He reads the operating reports of 50 subsidiaries.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

He walks the plants.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

He's very comfortable challenging managers in a way that Buffett rarely was.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

Like Warren Buffett famously left the

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

He acquired businesses or controlling stakes in the business and famously said, let the managers do their work.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

I'm not here to look over their shoulder.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

And that was a critique of Buffett as well.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

Yeah, you're dead right.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

Like Buffett trusted the managers, left them alone.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

Abel trusts them, but asks probing questions that you have to expect, opens up doors that otherwise were not seen.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

Yeah, that's true.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

Like the activist investor.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

Yeah.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

yes exactly yes indeed and you are my expert on that um so that is absolutely true so he's likely to run the operation differently and buffett was fundamentally an investor who happened to be a ceo and he he sat in his office and he read 5ks he allocated capital and very famously didn't bother visiting subsidiaries he didn't hold management meetings he he actually didn't even use email

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

He had someone come in and kind of hand him printouts of the most important things he needed to read.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

And you may bet that that person knew well what he didn't wanna read.

Stock Club
#309: 2 Legacy Stocks for Long-term Investing

But Abel is fundamentally an operator who happens to be a CEO.