The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

RWH034: The High Road To Riches w/ Peter Keefe

Oct 15, 2023

Listen in Apple Podcasts Pocket Casts Castro

This episode isn’t summarized yet

Create a free account and summarize it. In a few minutes you’ll have the key takeaways and a section-by-section summary.

Create a free account Sign in

Show notes

In this episode, William Green chats with Peter Keefe, an outstanding investor who’s trounced the market over three decades. Here, Peter discusses his timeless investing principles, what he looks for in a great business, how he evaluates the quality of management, why he loves Microsoft & Markel, why managing money is a high calling, & what investors can learn from apex predators.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
02:55 - How Peter Keefe taught himself to invest intelligently.
07:59 - Why he loathed selling stocks as a broker on commission.
28:12 - How Peter built a dazzling record based on timeless principles.
31:49 - Why he views selling great businesses too early as his costliest mistake.
38:46 - Why he ignores economic predictions.
42:50 - Why he owns a concentrated portfolio of 10-12 stocks.
47:39 - How Microsoft & Markel embody what he looks for in a business
52:28 - How he made hundreds of times his money on American Tower.
1:14:33 - How he evaluates the quality of management.
1:25:52 - What investors should learn from apex predators.
1:43:29 - Why humility is an indispensable virtue for investors.
1:44:22 - Why a money manager’s principal motivation should be to serve others.
1:46:30 - How Peter measures a successful life.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.

Peter Keefe’s investment firm, Avenir Corporation

Peter Keefe’s letters to shareholders

Hendrik Bessembinder’s study, Do Stocks Outperform Treasury Bills?

Clayton Christensen’s book, How Will You Measure Your Life?

William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book

Follow William Green on X (AKA Twitter)

SPONSORS
Support our free podcast by supporting our sponsors:

River

Toyota

CI Financial

Sun Life

AFR

The Bitcoin Way

Industrious

Briggs & Riley

Meyka

Public

Vacasa

American Express

iFlex Stretch Studios

Range Rover

Fundrise

USPS

Shopify