MI REWIND: WARREN BUFFETT VALUE INVESTING

W/ GARY MISHURIS

25 February 2022

On today’s show, Robert Leonard sits down with Gary Mishuris to talk about the ins and outs of value investing, and how Coronavirus has impacted the investing landscape. Gary Mishuris is the Managing Partner and Chief Investment Officer of Silver Ring Value Partners, an investment firm with a concentrated long-term intrinsic value strategy.

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IN THIS EPISODE, YOU’LL LEARN:

  • What exactly value investing is.
  • How Coronavirus will continue to impact the stock market.
  • What are the common misconceptions about value investing? 
  • How investors build conviction to hold during hard times.
  • And much, much more!

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TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

Robert Leonard  00:02

On today’s show, I sit down with a great value investor who has taught me many things over the years. Gary Mishuris. Gary is the Managing Partner and Chief Investment Officer at Silver Ring Value Partners, a professor at Babson Graduate School of Business, and holds a degree in computer science and economics from MIT.

Throughout this episode, Gary provides a ton of little bits of advice and wisdom that are super helpful when investing in the stock market, and especially when implementing a value investing strategy. I really enjoyed this conversation, and I hope you all enjoy it as well. Let’s dive in.

Intro  00:41

You’re listening to Millennial Investing by The Investor’s Podcast Network, where your host, Robert Leonard, interviews successful entrepreneurs, business leaders, and investors to help educate and inspire the millennial generation.

Robert Leonard  01:03

Hey, everyone! Welcome to the show! As always, I’m your host, Robert Leonard, and with me today, I have Gary Mishuris. Welcome to the show, Gary.

Gary Mishuris  01:12

Hey, thank you for having me.

Robert Leonard  01:13

Let’s start the conversation by talking about your background. How’d you get to where you are today?

Gary Mishuris  01:19

I’m an immigrant to this country. I grew up in the former Soviet Union, came to New York when I was a nine, and then came to Boston, which is where I stayed when I went to school at MIT. That’s where I actually got into investing. During the tech bubble about 20 years ago, Warren Buffett happened to come to speak on campus at the MIT Sloan School of Management.

I was fortunate enough to meander over and listen because, at that time, I was getting interested in investing, and I thought I was smart. I was studying computer science and economics, and thought that I would be able to figure out how to make money in tech stocks, which in hindsight, of course, was crazy, but I would say I was twenty and I was foolish. And then I went in and I heard Buffett speaking. Here was this guy talking about long-term intrinsic value, advantage, predictable industries, and all that kind of stuff that I never thought about, which made me realize that I had been speculating and not investing. That was really the start of my path of learning to be a value investor.

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BOOKS AND RESOURCES

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  • Benjamin Graham’s book The Intelligent Investor.
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  • Guy Spier’s book The Education of a Value Investor.
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