Charles T. "Chuck" Akre is an American investor, financier, and businessman. He is on the board of directors of Enstar Group.
My guest today is Chuck Akre, a now widely famous investor who founded Akre Capital Management in 1989, which now manages approximately $10B dollars. We discuss his investing style and his “three-legged stool” for evaluating companies. Please enjoy this great conversation.  For more episodes go to Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at Follow Patrick on Twitter at @patrick_oshag Show Notes 1:06 - (First Question) – Advantage of being in Middleburg, Virginia 2:11 – What a day looks like for Chuck 3:06 – Why imagination is more important than knowledge 3:38 – Difference between curiosity and imagination 4:38 – The origins of the Nirvana Three-Legged Stool concept 10:14 – First leg of the stool, Extraordinary business and ROE’s with a focus on Bandag. 14:36 – How his evaluations of value has changed over the last 10-15 years 16:10 – A look at recent businesses that he’s bought and why they are interesting 19:56 – Why they keep things simple 21:35 – Second leg of the stool, the people involved and characteristics of managers he has invested in 23:20 – Role of capital allocation in the people he focuses on 28:03 – Favorite biographies             28:22 – 100 to 1 in the Stock Market: A Distinguished Security Analyst Tells How to Make More of Your Investment Opportunities 29:34 – Third leg of the stool, reinvestment 21:09 – How does he think about diversifying across an investment area 33:32 – Great businesses wrapped in a bad balance sheet 37:35 – What would cause him to sell 38:52 – What does he look for in people 43:27 – How curiosity has impacted his interest in land conservation 43:51 – Advice for investors, especially younger ones 46:14 – Kindest thing anyone has done for him Learn More For more episodes go to  Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at Follow Patrick on twitter at @patrick_oshag
Great Investor Chuck Akre explains how he finds “compounding machines” – companies that produce high rates of returns for shareholders. Chuck says these companies are few and far between, but once he finds them, he holds on to them. The Akre Focus Fund is rated 5-star by Morningstar and has delivered nearly 19% annualized returns since its inception.   WEALTHTRACK #1047 broadcast on May 15, 2014
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1 hour, 14 minutes
Podchaser Creator ID logo 954697