This Millennial Investing podcast episode features an interview with Brian Stoffel, an investor with a 17.7% annualized portfolio return over the past decade, significantly outperforming the S&P 500 and NASDAQ. Stoffel discusses his anti-fragility-focused investment strategy, which prioritizes identifying resilient businesses and adding to positions over time, regardless of initial valuation. He emphasizes the importance of transparency in sharing investment track records and uses the reverse discounted cash flow model to assess market growth assumptions and manage risk. A key takeaway is his framework for scoring anti-fragility, considering factors like mission statements, moats, management's skin in the game, and redundancy. Listeners gain insights into a unique investment approach and practical tools for evaluating companies.
