A New Golden Age for Savvy Stockpickers w/ Bob Robotti (RWH046)
William Green chats with Bob Robotti, a great investor who’s crushed the S&P 500 over the last 40 years. Bob, the President & Chief Investment Officer of Robotti & Co, explains why he believes we’re in a “new golden age” for active, value-oriented investors (not index funds); why he expects persistently high inflation; why he’s betting heavily on the resurgence of Old Economy businesses; & how he’s positioned to profit from “the first truly global energy crisis.”
IN THIS EPISODE, YOU’LL LEARN
00:00:00 - Intro
00:08:48 - How Bob Robotti lucked into the ideal job for an aspiring investor.
00:30:46 - How working for Mario Gabelli was like a one-on-one MBA.
00:36:56 - Why Bob thinks we’re in a new golden age for savvy stockpickers.
00:43:30 - Why he’s betting heavily on a “metamorphosis of the Old Economy.”
00:44:08 - How globalization is evolving as China loses its edge.
00:48:46 - Why energy-intensive US companies have a long-term advantage.
00:56:30 - Why owning the “Magnificent Seven” looks like a risky bet.
00:57:21 - What an era of persistently high inflation means for investors.
01:02:47 - How value investing has changed.
01:18:30 - How Bob is positioned for “the first truly global energy crisis.”
01:38:15 - How his life has been enriched by helping young people.
01:44:18 - What he learned from his wife and father about facing adversity.
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On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.
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Honest interview, very knowledgeable, and evident he has a big heart ❤️
@WeStudyBillionaires
Ай бұрын
So glad you liked the episode! ❤
Well, just another exceptional interview from Mr. Green
@WeStudyBillionaires
Ай бұрын
Thank you so much! 🙏
This man is a beautiful soul. Thank you for sharing this one ❤
@WeStudyBillionaires
Ай бұрын
So happy to hear that! ❤
Great interview with a fascinating man. Thank you.
@WeStudyBillionaires
Ай бұрын
Our pleasure! 🙌
What a beautiful lesson on macroeconomics and inflation's impact on different markets!
@WeStudyBillionaires
Ай бұрын
Glad it was helpful! 💯
More of the RWH recently = more of productively-relaxing weekends 🙂
@WeStudyBillionaires
Ай бұрын
Much appreciated! ♥
Love Robotti one of the greatest to play the game!
@SkepticButOptimist
Ай бұрын
The demutualization he talks about 23:02 reminds me of the demutualization that Greenblatt utilized with Hudson City Bancorp
@SkepticButOptimist
Ай бұрын
And another wonderful moment at 1:41:41 adversity shapes oneself and I’m glad Bob is so giving in his time and advice.
@WeStudyBillionaires
Ай бұрын
So happy to hear you liked the interview! 🎉
Wow I teared up when he choked up. Amazing interview. Thank you both for the authenticity and for sharing such sage and priceless wisdom. A true gift thank you again
@WeStudyBillionaires
Ай бұрын
Thank you for the kind words! 🙏
What a legend! Thank you.
@WeStudyBillionaires
Ай бұрын
Thank you so much for tuning in! 💯
Is this the interview with the story of the lady who passed sway with an amazing stock portfolio and the dividends she received were larger than her cost basis on the companies?
This was a great interview!
@WeStudyBillionaires
Ай бұрын
So happy to hear that! 🙏
Self-select consistent moats, via Quality per long-term metrics trends and sustained balance sheets. No ETFs. Only diversify across equities.
@WeStudyBillionaires
Ай бұрын
Hope you found the episode valuable! 💡
Resources and Agriculture are the future due to increasing scarcity.
I have been value investing since 1967. I have dealt with all the characters he mentioned and more. Due to Nixon cutting off NIH and NSF funds in Mass because nobody here voted for him i abandoned my Biophysics career for value investing. I wrote letters to money managers and market makers followed by phone calls; nobody does that. I learned the most from Ralph Coleman of The OTC Securities Fund.
Great interview thank you. Can you please put these videos on Spotify?
@WeStudyBillionaires
Ай бұрын
Thanks so much for watching! 💯
Cracking conversation
@WeStudyBillionaires
Ай бұрын
Thank you so much for watching! 💯
Great listen. BUT hard to find a major index he has beaten. Story is great and I like the thesis but pick an industrials etf and 90% likely over 5-10 years you beat his picks.
@WeStudyBillionaires
Ай бұрын
Thanks for watching! 😀
@mark4083
Ай бұрын
It sounds like he's pivoted from value investing in earlier years to macro trend predictions now. Does that sound right? Probably more interesting for him, but not more profitable?
I love how u say with such pride. Oh we don't talk about stocks. We want these interviews to be 'timeless'. In other words, useless for listeners interms of generating alpha. Get guy spier on for the 200th time & recycle some buffetisms. It's why I unsubscribed years ago. Robotti is actually worth listening to because he's actually in the arena & I can keep score.
@RicherWiserHappier
Ай бұрын
Thanks for your message, @rickfool1452. To be honest, it's not a matter of pride. It's more of a public health warning. Over the last three decades, I've written and edited a lot of articles that featured stock picks, including pieces for great publications like Fortune, Forbes, Money, Barron's, and Time, where we were sincerely trying to benefit our audience. But the truth is that I'm not sure that these stock picks ever truly added any value for my readers (unless, say, they had the good fortune or good judgment to buy Amazon at $6 when I profiled Bill Miller for Fortune in 2001). There's also a timeliness issue, which is that there's often a delay of a few weeks between when I do a podcast interview and when it actually airs, so I don't want a listener to buy a stock and then discover that the person who recommended it has sold it or changed their mind since our interview. For these and other reasons, I think it's more helpful for me to discuss stocks as illustrations of how my guests think about investing or to discuss certain trends/themes that they're seeing in the world. Beyond that, I'm more interested in how these extraordinarily smart investors think about how to live well, how to think better, how to deal with their mistakes, how to build a competitive advantage, how to balance success in the financial world with the challenge of having a happy personal life, how to build a resilient life both financially and personally in the face of impermanence and entropy, etc etc. As I see it, those are rich subjects that are maybe under-explored, whereas it's easy enough to get a limitless array of stock picks elsewhere. So, that's just not my focus, and I hope it never will be. Anyway, wishing you much success in your efforts to generate alpha. Warm wishes, William
Wait so did China run out of raw materials compared to the USA?
❤🤝🤝
Robotti & Gabelli don't read books because they've been too busy developing their own methodology that should be documented in books. 😊
@WeStudyBillionaires
Ай бұрын
Thanks so much for watching the video! 😎
Ghawar is producing more water daily.
His funds have underperformed for at least 10 years.they act like he is some kind of guru.
@olivierm6893
Ай бұрын
That's the whole point of his video
@JakeAllen3
Ай бұрын
He’s beaten the market over 30+ years
@sebfox2194
Ай бұрын
10 years is a very short time frame. Funds that underperform in one decade can outperform in the next.
Why does this host talk so much? We are not here to admire his knowledge, are we?
@RicherWiserHappier
Ай бұрын
He can't help it.
@bigmoose143
Ай бұрын
@@RicherWiserHappier Appreciate the honesty. :)
@TD-es5py
Ай бұрын
@@RicherWiserHappier😂
@faronskelton4085
Ай бұрын
I still think you're one of the best interviewers I've ever listened to.@@RicherWiserHappier
No, next decade belongs to bitcoin
@sebfox2194
Ай бұрын
No, the previous decade belonged to bitcoin.
@WeStudyBillionaires
Ай бұрын
Thanks so much for tuning in! 🙌