In this episode, William Green chats with British investing legend Terry Smith. Terry, a member of Bloomberg’s index of billionaires, manages the Fundsmith Equity Fund, which is the UK’s largest stock fund. Since 2010, it’s returned more than 600%, beating the MSCI World Index by over 200 percentage points. Here, Terry talks in depth about the skills, personality traits, & principles that catapulted him from poverty to the pinnacle of the investing world.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro04:01 - How Terry Smith was shaped by poverty & violence.35:17 - How he achieved fame by exposing financial deception.39:26 - What he looks for when identifying great businesses.46:54 - Why many of his favorite companies are 100 years old.51:56 - Which sectors he shuns & which he likes.58:42 - How Microsoft embodies what he loves in a business.1:00:29 - Why it’s worth paying up for the best companies.1:20:15 - Why the US is his favorite place to invest.1:21:44 - How being a CEO made him a better investor.1:32:07 - What he learned from Sir John Templeton.1:35:46 - Why he refuses to speak with brokers or read their research.1:40:30 - Why it’s hard to be successful professionally & personally.1:52:46 - Why he’s deeply skeptical about Tesla.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCES<ul>
<li>Terry Smith’s investment firm, <a href="https://www.fundsmith.co.uk/">Fundsmith</a>.</li>
<li>Terry Smith’s book, <a href="https://www.amazon.com/Investing-Growth-companies-anthology-investment-ebook/dp/B08L3W9KFZ?&linkCode=ll1&tag=tipnetwork-20&linkId=5809afa99f0552ea5cdcad13e297dca8&language=en_US&ref_=as_li_ss_tl">Investing for Growth</a>.</li>
<li>Terry Smith’s book, <a href="https://www.amazon.com/Accounting-Growth-Terry-Smith/dp/0712675949?&linkCode=ll1&tag=tipnetwork-20&linkId=11e8fced798da0bd8b0356fbd6918454&language=en_US&ref_=as_li_ss_tl">Accounting for Growth</a>.</li>
<li>William Green’s book, “Richer, Wiser, Happier” – <a href="https://www.amazon.com/Richer-Wiser-Happier-Greatest-Investors/dp/1501164856?&linkCode=ll1&tag=tipnetwork-20&linkId=4ceacbabc2ce3668bf682909413375ec&language=en_US&ref_=as_li_ss_tl">read the reviews of this book</a>.</li>
<li>Follow William Green on <a href="https://twitter.com/williamgreen72">X</a>.</li>
<li>Check out all the books mentioned and discussed in our podcast episodes <a href="https://prodcast.io/rwh">here</a>.</li>
<li>Enjoy ad-free episodes when you subscribe to our <a href="https://premium.theinvestorspodcast.com/">Premium Feed</a>.</li>
</ul><h3>NEW TO THE SHOW?</h3><ul>
<li>Get smarter about valuing businesses in just a few minutes each week through our newsletter, <a href="https://www.theinvestorspodcast.com/newsletters/">The Intrinsic Value Newsletter</a>.</li>
<li>Follow our official social media accounts: <a href="https://twitter.com/TIP_Network">X (Twitter)</a> | <a href="https://www.linkedin.com/company/the-investor's-podcast/">LinkedIn</a> | <a href="https://www.instagram.com/theinvestorspodcastnetwork/">Instagram</a> | <a href="https://www.facebook.com/TheInvestorsPodcast">Facebook</a> | <a href="https://www.tiktok.com/@theinvestorspodcast">TikTok</a>.</li>
<li>Browse through all our episodes (complete with transcripts) <a href="https://www.theinvestorspodcast.com/richer-wiser-happier/">here</a>.</li>
<li>Try our tool for picking stock winners and managing our portfolios: <a href="https://www.theinvestorspodcast.com/tip-finance/">TIP Finance Tool</a>.</li>
<li>Enjoy exclusive perks from our <a href="https://www.theinvestorspodcast.com/affiliates/">favorite Apps and Services</a>.</li>
<li>Learn how to better start, manage, and grow your business with the <a href="https://www.theinvestorspodcast.com/podcasts/20-best-business-podcasts/">best business podcasts</a>.</li>
</ul>SPONSORSSupport our free podcast by supporting our <a href="https://theinvestorspodcast.com/sponsors">sponsors</a>:<ul>
<li><a href="https://simplemining.io/preston">SimpleMining</a></li>
<li><a href="https://netsuite.com/study">Netsuite</a></li>
<li><a href="https://unchained.com/fundamentals">Unchained</a></li>
<li><a href="https://www.hardblock.com.au/join/fundamentals">Hardblock</a></li>
<li><a href="https://www.found.com/wsb">Found</a></li>
<li><a href="https://fintool.com/?utm_source=spotify&utm_medium=podcast&utm_campaign=the_investors_podcast">Fintool</a></li>
<li><a href="https://www.thebitcoinway.com/tip">The Bitcoin Way</a></li>
<li><a href="https://www.vanta.com/billionaires">Vanta</a></li>
<li><a href="https://onrampbitcoin.com/">Onramp</a></li>
<li><a href="https://turbotax.com/">TurboTax</a></li>
<li><a href="https://prizepicks.onelink.me/LME0/WSB">PrizePicks</a></li>
<li><a href="https://www.vanta.com/billionaires">Vanta</a></li>
<li><a href="https://fundrise.com/WSB">Fundrise</a></li>
</ul>HELP US OUT!Help us reach new listeners by leaving us a <a href="https://docs.google.com/presentation/d/1Rnl5KGxmrYISQ7UfbEREMN-AD6b40i6CwWUbXaTabmI/edit">rating and review</a> on <a href="https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP?si=e77332a33ef04a7c">Spotify</a>! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>Support our show by becoming a premium member! <a href="https://theinvestorspodcastnetwork.supportingcast.fm">https://theinvestorspodcastnetwork.supportingcast.fm</a>

Podurama

Home

Trending

Personal

Your Podcasts

New Episodes

My Files

Favourite Episodes

Tags (Folders)

Recently Played

Bookmarks

Followed Playlists

RWH054: Billionaire Brit w/ Terry Smith

We Study Billionaires - The Investor’s Podcast Network

AI Chapters

AI Insights

Reviews