Judging management
22 interviews, newest first.
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Fall 2025
David Poppe
Giverny Capital Asset Management
David co-founded Giverny Capital Asset Management in 2020. He talks about judging management and three holdings: Progressive, Arista, and Constellation Software after Mark Leonard.
Quality compoundersJudging managementBuilding a firm -
Spring 2025
Scott Rosenthal
Hotchkis & Wiley Capital Management
How Hotchkis runs a contrarian value process by team, with no star PMs. Scott walks through Siemens and Nippon Sanso.
InternationalJudging management -
Spring 2024
Noah Snyder
Snöboll Capital
Noah looks for outsider CEOs, often outside the US. He talks about Kelly Partners in Australia, Vitec in Sweden and CBIZ, and what Golden Gloves boxing taught him about investing.
InternationalJudging managementQuality compoundersShort selling -
Fall 2023
Kevin Fogarty & Kevin Nichols
Value Creators
The two Kevins behind Value Creators on judging capital allocation, acquisitions included, and two holdings: AMETEK and Copart.
Judging managementQuality compounders -
Spring 2023
Daniel Bakalarz & Alex Furmanski
Unison Asset Management
Unison holds 25 to 30 businesses. Daniel and Alex explain how they judge management, why they went to the payer end of healthcare, and their case for Elevance Health.
Quality compoundersHealthcareJudging management -
Fall 2022
Connor Haley
Alta Fox Capital Management
Connor started Alta Fox in 2018 to invest in small, overlooked companies. He talks about what he took from Joel Greenblatt, the capital allocation mistakes he sees, engaging with management, and his IDT thesis.
Small capsActivismJudging managementBuilding a firm -
Fall 2022
Christopher Bloomstran
Semper Augustus
Chris on 24 years of running a concentrated book at Semper Augustus, Berkshire's history, his advice to Disney on capital, and why Ross Stores is one of his biggest mistakes.
Quality compoundersJudging managementPortfolio construction -
Spring 2022
Mark Cohen & Raphael Rabin-Havt
Stone House Partners
Stone House traces back to driving around salvage auctions to research Copart. Mark and Raphi walk through Scientific Games and the management team that did it before at Aristocrat.
Special situationsJudging management -
Spring 2021
Sean Stannard-Stockton
Ensemble Capital
Ensemble's three pillars (moat, management, forecastability), the Time Warner mistake, Mastercard as a case study, and a long walk through Home Depot.
MoatsJudging managementQuality compounders -
Winter 2021
Wilmot Kidd & John Hill
Central Securities
Central Securities has been a closed-end fund since 1929. Wil recalls being the numbers guy at Hayden Stone when it took part in Intel's first financing, and John explains why the private insurer Plymouth Rock is about 20% of the fund.
Quality compoundersJudging managementCareer advice -
Fall 2020
Sarah Ketterer & Alessandro Valentini
Causeway Capital Management
Causeway's approach to international value, with screening as a ranking tool, balance sheets strong enough to survive, and Volkswagen after the Dieselgate management cleanout.
InternationalJudging management -
Spring 2020
Alex Captain
Cat Rock Capital Management
Alex was a partner at Tiger Global before he started Cat Rock in 2015. He makes the case for Just Eat Takeaway's room to grow in food delivery, plus Evolution Gaming and TransDigm.
InternationalQuality compoundersJudging management -
Spring 2018
Michael Mauboussin & Tom Digenan
BlueMountain Capital Management, UBS
Two investors who also teach on the base-rate fallacy, lasting competitive advantage, ETFs, and how teams make decisions.
MoatsJudging managementCareer advice -
Fall 2014
Wally Weitz
Weitz Investment Management
Wally on how his philosophy changed over the years, the discount he needs before he's interested, poking holes in a thesis, and how much cash he's willing to hold.
Judging managementPortfolio construction -
Fall 2014
Guy Gottfried
Rational Investment Group
Guy learned under Bruce Berkowitz at Fairholme before starting Rational in 2009. He talks about partnering with strong management and keeping his discipline.
Judging managementBuilding a firm -
Winter 2014
Lee Ainslie
Maverick Capital
Lee on founding Maverick in 1993, hiring analysts and organizing sector teams, and a candid account of a 1995 merger investment that taught him management matters more than strategy.
Building a firmJudging managementCareer advice -
Fall 2013
Steve Feilmeier & Dave Robertson
Koch Industries
Koch's CFO and president on finding businesses that are great on their own and also fit into what Koch already runs.
Private equityJudging management -
Fall 2012
Jim Tisch & Joe Rosenberg
Loews Corporation
'Patience is part of our DNA.' Jim Tisch on permanent capital and the dangers of buying companies; Joe Rosenberg, 50 years on Wall Street, on meeting Larry Tisch and joining Loews in 1973.
Judging managementPrivate equity -
Spring 2012
Tom Russo
Gardner Russo & Gardner
Tom looks for managements with the 'capacity to suffer' through early hits to reported profits to build an advantage. He talks about Nestlé, Mastercard, Martin Marietta, Brown-Forman and E.W. Scripps.
Quality compoundersInternationalJudging management -
Spring 2012
Julian Robertson
Tiger Management
Tiger's founder on mentoring the Tiger Cubs, why analysts should focus on strong management, and why he expected Apple and Google to keep outperforming.
Judging managementCareer advice -
Winter 2010
Mason Hawkins
Southeastern Asset Management
'Parsimony is extremely profitable.' Mason on the philosophy, valuation discipline and independent view he built over 35 years at Southeastern, after Longleaf Partners' best year, up nearly 54% in 2009.
Deep valueJudging management -
Summer 2007
David Winters
Wintergreen Advisors
David worked beside Michael Price at Mutual Series before founding Wintergreen. He describes his 'global treasure hunt' and his trifecta: a good business, management aligned with shareholders, and a low price.
InternationalJudging management