Francois Rochon - Outperforming the Market for 30+ Years Through Patience, Humility & Rationality | #578

Today’s guest is Francois Rochon, the President of Giverny Capital, which has returned over 15% per year for over 30 years.

In today’s episode, Francois walks through the influence of Peter Lynch and Warren Buffett on his investment philosophy. He highlights three principles that have helped him navigate market cycles in his career: patience, humility and rationality. We also walk through some of the lessons learned from his investment mistakes, which he highlights in his annual letters.

(0:00) Starts

(0:48) Introducing Francois Rochon

(5:15) Tech bubble lessons

(10:13) Investment mistakes

(18:01) The real expenses of stock-based compensation

(25:01) Focus on company fundamentals in the long-run

(34:40) Evaluating Berkshire Hathaway

(41:43) Cryptocurrencies and value investing in art

(53:12) Handling bear markets

(56:42) Francois' most memorable investments

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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

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