Tweedy Browne's William Browne Speech To Ivey Business School

[Guest ajc]

From March of this year. I think a fair amount of his insight and wit were unfortunately lost on the audience, though that's probably to be expected in these situations.

 

It's about an hour and a half long, but worth setting some time aside for.

 

 

 

[tombgrt]

Thanks. Another one to watch in the fitness!

 

 

(Yes I'm serious. I started doing cardio on a bicycle and instead of watching mindless tv shows I watch youtube interviews on my samsung s3. I get the occasional look but hey, it saves a bunch of time! It also forces me to do much longer workouts.)

[VersaillesinNY]

I came across an insightful video interview of John Spears, Managing Director at Tweedy Browne.

During 45 min, John Spears covers topics such as business, leadership, quakers and investing.

 

http://ldr.esr.earlham.edu/video/spears

 

[Jurgis]

From March of this year. I think a fair amount of his insight and wit were unfortunately lost on the audience, though that's probably to be expected in these situations.

 

It's about an hour and a half long, but worth setting some time aside for.

 

 

Great talk.

 

Some notes paraphrased:

- Biggest issue with investing in emerging markets: currency. We have not found a currency manager (as opposed to investment manager) with a good long term track record. Not hedging might be bad, hedging might eat away your returns.

- Most creative accounting is in US, since companies want to overstate earnings because compensation is keyed on earnings.

- In Europe (some countries) family owned companies understate earnings since stock runup triggers wealth tax even if family does not sell any stock.