Henry Ellenbogen - Man Versus Machine - [Invest Like the Best, EP.452]

In this episode of Invest Like the Best, Patrick O'Shaughnessy interviews Henry Ellenbogen, founder and managing partner of Durable Capital Partners, about his investment philosophy centered on understanding people and change. Ellenbogen discusses the importance of investing in companies with a healthy balance between stakeholders, the power of studying past market successes, and the focus on identifying the rare 1% of companies that drive long-term returns. He emphasizes the significance of "Act II teams," leaders who apply lessons from previous ventures to new opportunities, and shares insights on navigating technological shifts like AI, favoring companies that leverage change to create durable competitive advantages. The conversation also explores Durable's unique approach to team building, investment memos, and the value of public markets in fostering corporate discipline and growth.