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1/ Not sure how many of you have heard of Edelweiss Holdings (permanent capital co) and Anthony Deden, I had but had not seen this interview with @realvision until @amellis_84 sent it to me.
He said it would "blow my mind" and he was right! Takeaways:
He said it would "blow my mind" and he was right! Takeaways:
2/ @amellis_84 has a Deden quote on his site which I liked so much I added it to mine. Describes "Think Like an Owner" perfectly:
"I think that one of the things that is missing, and one of the things I have discovered is that there's a substantial distinction between people...
"I think that one of the things that is missing, and one of the things I have discovered is that there's a substantial distinction between people...
3/ ...who are investors and people who are owners in businesses. An owner in a business is far more interested in his survival, in the first instance, than its necessary monetary value. No owner of a business wakes up every morning asking himself what he's worth."
4/ Takeaway #2: Deden tells the story of an owner of a tree orchard. The owner is planting trees that will not bear fruit for 20-40 years, and he is collecting fruit today from trees his grandparents planted. The mindset to put efforts in today for benefits you won't receive ...
5/ ...in your lifetime is a true owner's mindset.
Takeaway #3: Deden advises to be a "doubting Thomas" and look for reasons to not do something before doing it. Focus on what can go wrong, and the good takes care of itself.
Takeaway #3: Deden advises to be a "doubting Thomas" and look for reasons to not do something before doing it. Focus on what can go wrong, and the good takes care of itself.
6/ Takeaway #4: When you own the entire company, you can know the managers and people in charge more easily than through public investments. You can also make changes in management more easily. Deden says people are huge ingredient of success.
7/ Takeaway #5: Deden calls his private ownership positions "participation", which implies a more active and less passive involvement in an investment. As a private co. investor, he can help guide and shape his investments in a way public investors can't.
8/ Takeaway #6: There is no value in reading the financial press. Most of it is noise. Last year I stopped reading the financial news after a super interesting writeup by @patrick_oshag about how not reading the news is beneficial for your health and awareness. I'm all aboard.
9/ Takeaway #7: The best fund managers/investors he knows don't Tweet or blog. In an already private space, Deden is saying the best are even more private. At first it felt discouraging, but now I feel it's encouragement to keep actively reaching out and build new relationships.
10/ Here's their site: edelweissholdings.com
Their article "Our Guiding Principles" actually provided a great outline for the Real Vision interview. Here's that as well, also from their site: edelweissholdings.com/docs/EH-Our-gu…
Their article "Our Guiding Principles" actually provided a great outline for the Real Vision interview. Here's that as well, also from their site: edelweissholdings.com/docs/EH-Our-gu…
11/ Finally, near the end of the video, Deden discussed a potential option of having an IPO for Edelweiss and if that transpires then I am on the lookout for some shares.
