In this episode of Thoughtful Money, Adam Taggart interviews Pieter Slegers, the creator of the financial Substack "Compounding Quality," about the principles of successful investing. Slegers emphasizes discipline, sticking to a chosen strategy like quality investing, and leveraging a behavioral advantage over professional investors. He highlights the importance of saying no quickly to most investment opportunities and focusing on companies with essential characteristics such as a strong moat, skin in the game, low capital intensity, excellent capital allocation, high profitability, and attractive growth. Slegers shares examples of companies in his portfolio, like Kingshill Capital and Medpace, and discusses his valuation methods, which include comparing forward PE ratios, using an earnings growth model, and employing a reverse DCF analysis. The conversation also touches on risk management, with Mike Preston from New Harbor Financial joining to discuss their approach to hedging and portfolio adjustments in response to market volatility, particularly in precious metals.
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