Value Investing with Legends16 Apr 2019

Mario Gabelli - Welcome to Value Investing with Legends!

Today's conversation is with the legendary Mario Gabelli, the Chairman and Chief Executive Officer of GAMCO Investors, Inc., the firm he founded in 1977. A 1965 summa cum laude graduate of Fordham University's College of Business Administration, he also holds an M.B.A. from Columbia Business School, and honorary doctorates from Fordham University and Roger Williams University. Since starting his firm Mario has been called "a prophet in the wilderness" by Forbes and strongly believes that the small, neglected stocks are where the money is going to be made in the future. With a focus on strong research and flexibility, it's this foundation that has allowed the fund to successfully generate returns for clients even when facing a headwind in the market. From his management technique to his investment rationale, Mario shares his perspective and strategies for maintaining positive results in an ever-evolving marketplace. On this episode, we talk about how Mario started out as a researcher, the benefits of a niche research focus, why it's so crucial to build accumulated knowledge in your industries of focus, how Mario identifies investment and growth opportunities, and so much more! Key Topics:

Mario shares how he first became interested in Graham and Dodd's investing principles (2:45)
The early career opportunities that steered Mario's research focus (3:19)
How Mario ended up starting his own firm at the bottom of a major economic downturn (4:27)
The market response to Mario's niche research focus at his firm (5:38)
How the private market value and catalyst concepts came about (8:00)
The important lesson Mario learned on a research trip to Toronto in 1977 (10:55)
Why Mario uses a global approach to master the dynamics of change in an industry (12:53)
Mario's management techniques for working with super-specialized analysts (14:49)
When did the Gabelli Asset Fund and the Gabelli Growth fund get started? (18:30)
How Mario identifies and connects political and industry events with investment and growth opportunities (20:22)
The approach Mario uses for managing clients and the firm's positioning under difficult market conditions (24:39)
Mario's perspective on the effect of economic cycles in various industries (29:39)
The factors behind the decision to invest talent and funds into specific industries while staying away from others (33:10)
The changes that Mario expects to see in the business and economic models based on the current market activity and projections (36:07)
Mario's thoughts on the evolution of public markets (40:15)
Why multiple sustainability is Mario's biggest concern currently (42:59)
Mario's advice to people interested in starting companies (45:35)
And much more!

Mentioned in this Episode:

Thanks for Listening! Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at valueinvesting@gsb.columbia.edu Follow the Heilbrunn Center on social media on Instagram, LinkedIn, and more!

Det här avsnittet är hämtat från ett öppet RSS-flöde och publiceras inte av Podme. Det kan innehålla reklam.

Avsnitt(76)

Django Davidson - The Capital Cycle: Finding Opportunity Where Others Aren't Looking

In this episode, hosts Tano Santos and Michael Mauboussin welcome Django Davidson, Partner and Portfolio Manager at Hosking Partners, for a discussion of the capital cycle approach to investing. Djang...

26 Juni 56min

Jim Flynn - Building a Healthcare Investment Platform Across Public, Private, and Venture

Jim Flynn is the Managing Partner of Deerfield Management, a healthcare-focused investment firm overseeing approximately $16 billion in assets. In this episode, hosts Michael Mauboussin and Tano Santo...

12 Juni 46min

Matthew Fine - Buying Gray Clouds and Building Resilient Portfolios

In this episode, hosts Tano Santos and Michael Mauboussin speak with Matthew Fine, portfolio manager at Third Avenue Management, about his path into investing and the firm's value-driven philosophy. M...

8 Maj 59min

Jenny Harrington - Dividend Investing, Risk Management, and Building Reliable Income Streams

In this episode, hosts Michael Mauboussin and Tano Santos speak with Jenny Harrington, CEO of Gilman Hill Asset Management, about her approach to dividend-focused investing. Jenny shares her journey f...

17 Apr 1h 1min

Samer Sarraf - Investing in the GCC: Private Equity Discipline in Public Markets

In this episode, Tano Santos speaks with Samer Sarraf, Founding Partner and COO of Amwal Capital Partners, about his journey from engineering and construction to Lehman Brothers and ultimately foundin...

13 Mars 1h 16min

Ricky Sandler - Investing Through Perception Shifts and Market Cycles

Ricky Sandler, founder, CEO, and CIO of Eminence Capital, joins hosts Michael Mauboussin and Tano Santos to explore a dynamic career spanning over three decades in long-short investing. Starting with ...

19 Dec 202555min

Robert Robotti - From Pink Sheets to Portfolio Management: Bob Robotti's Value Investing Journey

Robert Robotti, President and CIO of Robotti & Company Advisors, joins host Michael Mauboussin to explore a lifetime shaped by value investing. With deep roots in accounting and formative experiences ...

21 Nov 20251h 2min

Richard Brekka - From Venture to Secondaries: Richard Brekka on Illiquid Market Advantages

In this episode, host Tano Santos sits down with Richard Brekka, founder and managing partner of Second Alpha, to examine the lesser-known world of secondary investing in private technology companies....

7 Nov 20251h 3min