In this episode, Steve Mandel, the founder of Lone Pine Capital, reflects on his impressive investing journey. He discusses how the investing landscape has changed, noting that shorting stocks has become more challenging due to increased competition and easy access to information. Mandel emphasizes the need to grasp a company's core qualities and management, highlighting the long-term benefits of investing in businesses that are undergoing significant transformations. He shares personal stories that illustrate both the hurdles and successes of short selling, while also stressing the importance of cultivating a strong, lasting firm culture. The conversation also explores key trends, such as the growth of digital payments and the lasting appeal of high-quality software companies.
