Far From The Finishing Post Troy Asset Management

Dan Davidowitz is lead portfolio manager of Polen Capital’s Focus Growth strategy. We discuss Dan’s evolution as an investor, Polen’s investment guardrails, and other factors that have helped the strategy deliver exceptional returns over the last 35 years.Show notes:[01:16] Dan discusses how he pivoted from public health to investing[02:56] Thoughts on healthcare investing[04:30] Shifting from a deep value shop to Polen Capital[07:44] Keep things simple[10:01] Time arbitrage with busine...

In this episode we speak to Robbie Robertson. Robbie is on the Board of Personal Assets Trust and spent a nearly 40-year career in the investment trust industry. We discuss the evolution of the investment trust industry, the advantages of a closed-end structure and the role Personal Assets Trust can play in a portfolio. Show notes: [01:28] A different world [03:17] Observations from a career in the investment trust industry [06:42] Characteristics of succ...

In this episode we speak to Jim Strang, Chairman of HGCapital Trust. The Trust has an outstanding track record investing in business-to-business software companies. We discuss the evolution in private markets over Jim’s career, the benefits of specialisation and the reasons behind Hg Capital’s success.Show notes:[01:15] Jim discusses his early career[02:12] HgCapital Trust’s history[03:41] The benefits of specialisation[05:56] The importance of controlling the capital structure[08...

Stuart Widdowson founded Odyssean Capital, is co-manager of the Odyssean Investment Trust, and has a wealth of experience investing in UK-listed smaller companies. We discuss the lessons Stuart has applied to public equity investing from his days in private equity, the rewards derived from investing in good quality companies that can be improved, and the overall state of the UK market. Show notes:[01:28] Stuart discusses his early career[04:12] Swapping private equity for public eq...

In this episode we speak to Oddbjørn Dybvad, co-founder of REQ Capital, an Oslo-based investment firm. Oddbjørn manages REQ’s Global Compounders and Nordic Compounders funds, which focus on acquisition-driven businesses. We discuss the entrepreneurial energy within these companies, why they are able to reinvest capital at attractive rates for a long period of time and how their diversified and decentralised nature makes them both resilient and adaptable. Show notes:[01:22] Od...

Kiril Sokoloff founded 13D Research in 1983 and is a leading global investment strategist who has presciently called a number of major paradigm shifts over the last 40 years. We discuss Kiril’s career, why the current investment backdrop is so challenging and how the geopolitical landscape is evolving.Show notes:[01:23] Kiril talks about the start of his career[04:18] Getting the big picture right[07:48] The impact of algorithmic trading and passive investing on price discovery [09...