#49 The $50bn Man - David Samra on Global Value & 20 Years of 4% Alpha

David Samra, an international value investor, shares his approach to investing, emphasizing the importance of buying good companies with strong balance sheets at a discount and holding them for the long term. He recounts formative experiences, including working with Mario Gabelli, and stresses the value of cumulative knowledge and visiting companies to understand their businesses and management. Samra discusses managing a large fund, his preference for active investing, and examples like his involvement with Danone, where he pushed for management changes to unlock value. He also touches on current holdings like Universal Music and Diageo, explaining his investment rationale and criteria, including a hurdle rate of 20% gross IRR.