Tom Russo
20 statements across 3 episodes · 7 bullish · 4 bearish · 1 people on the record · first statement Jul 10, 2017 by Tom Russo · said 5 times in 4 episodes since 2017 · across every show →
On the record as a speaker too: Tom Russo's record, appearances and statements → this page counts the times other people say the name.
Mentions by year
brought up most by Ted Seides (5)
tap a year for its mentions
2019 2 mentions in 2 episodes 1 per episode
2017 3 mentions in 2 episodes 2 per episode
Everything said about Tom Russo, oldest first
Jul 10, 2017 neutral
Managing $11 billion may force Russo to expand historical investment categories
“We managed over eleven billion dollars, and I may have to start to migrate away and look for some fields to invest in that are either akin to or some possibly just slightly distant from where we spent most of our time historically.”
Jul 10, 2017 positive
Long-term minority holding enables richer insights on strategy and succession
“I say we get the benefit, I do believe, of insider insights, which are helpful in creating kind of the framework around which we review and we analyze the businesses that we own. They're not insider information because that's obviously privileged, but you know…”
Jul 10, 2017 positive
Low turnover works because portfolio companies actively transform themselves internally
“Because most of what's in the portfolio is vastly different than it was five years ago, or what, or will be five years from now, because the companies are buying and selling all the time, and so we feel like we're less, less needful of doing that, because our …”
Jul 10, 2017 negative
Jul 10, 2017 positive
Firm's Weetabix investment compounded at 21% over 25 years without debt
“Over a 25 year period of time when we owned the shares, before selling them into a takeover by a private equity firm, I think they compounded at 21%. Never had any debt, just the steadfast growth and the profitability through reinvestment and cash buildup.”
Jul 10, 2017 bearish
Russo trimmed Wells Fargo stake on rallies to fund other investments
“And for that reason, as it's moved up, we've been using it as a source of cash to make other investments. As it pops up, we have been selling it. We have cash to go off and do other things. Just recognizing that it's probably doesn't have the reinvestment rate…”
Jul 10, 2017 negative
Jul 10, 2017 bullish
Jul 10, 2017
Jul 10, 2017
Jul 10, 2017 bullish
Jul 10, 2017 neutral
Investment committees require managing people rather than just asset allocations
“It's a whole different skill set, because I'm managing not only that, those allocations and those investments and the breadth across different continuum, but I have to also then manage the committee members, obviously, who, Whose, whose participation you solic…”
Mar 4, 2019 neutral
Russo: Portfolio positions are historically trimmed above 13% weighting
“When the position approaches and then exceeds 13%, maybe it's unlucky 13, whatever the reason is, that feels to me like it's a level above which we can let other people make that money, and so I historically tended to rebalance when positions get above 13%.”
Mar 4, 2019
Russo: Compounding Growth Requires Owner-Minded Managers Over Self-Interested Agents
“Anybody who reinvests on your behalf is your agent, and it's really hard to succeed in business if your agent is self-interested rather than has your interest at heart. And so that was a really important insight is that you need something that can grow, and th…”
Mar 4, 2019
Mar 11, 2019 bullish
Mar 11, 2019 bearish
Russo: Firm avoided Facebook because its engagement relies on unsustainable conduct
“And I haven't involved capital with Facebook, because within Facebook, though they are probably even more indispensable than Google in terms of programmatic advertising, part of the appeal has been the length of time and the height of passion that people exert…”
Mar 11, 2019 positive
Mar 11, 2019 neutral
Russo: Firm avoids direct crypto and cannabis, gaining indirect exposure instead
“I probably won't make an investment in either of those, though our portfolio companies, whether it's MasterCard using blockchain technology, Or Wells Fargo using blockchain technology. Our portfolio companies will be involved.”
Mar 11, 2019
Russo: Investors must remember that stocks do not know who owns them
“I think one of the things that Charlie Munger has said over the years, I thought very valuable in managing the portfolio is number one, the stock doesn't know you own it. Number two, you don't have to make back your money the same way you lost it.”