turnover

3 statements across 3 episodes · 0 bullish · 0 bearish · 3 people on the record · first statement Apr 2, 2018 by Andy Redleaf · across every show →

Everything said about turnover, oldest first

Apr 2, 2018

Insight

Andy Redleaf: Outperforming an index mathematically requires leverage, concentration, or turnover

“Returns above an index have to, mathematically, they have, the possible sources are leverage, concentration, or turnover.”

Andy Redleaf Apr 2, 2018 ▶ 51:08 Andy Redleaf - Evolution of Markets (Capital Allocators, EP.46)

Apr 26, 2021

Disclosure

Bares Capital limits its concentrated ten-stock portfolio to three annual trades

“If you look at the numbers, we're actually roughly about 30% turnover. So it's thinking in a 10 stock portfolio about three new positions per year.”

Brian Bares Apr 26, 2021 ▶ 50:26 Brian Bares – Qualitative Concentration at BCM (Capital Allocators, EP.191)

Mar 2, 2026 neutral

Insight

Baker: Portfolio turnover is driven by volatility, not time horizon

“Turnover should be a function of how often you change your mind, and part of that in any discipline valuation-based process should be about how the stocks move. For me, turnover is mostly a function of volatility.”

Gavin Baker Mar 2, 2026 ▶ 49:59 Gavin Baker – Truth-Seeking and Crossover Investing at Atreides (EP.489)

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turnover

Everything said about turnover, oldest first

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