๐ฃ๏ธ Investor Talk #10: Dave Ahern
Founder - The Investing For Beginners Podcast
Welcome to Investor Talk โ where we interview successful investors to uncover their journeys, strategies, and the lessons they've learned. Get inspired by real stories and gain valuable insights to sharpen your own investment approach.
Every interview follows the same set of sharp, insightful questions โ such as โWhat is your investment strategy?โ, โWhat are your highest conviction stocks?โ, and โWhatโs the biggest investment mistake youโve made?โ
In this edition, we have the pleasure of interviewing:
Name: Dave Ahern @IFB_podcast
Age: 56
Residence: USA
Invests since: 2012
๐๐ป๐๐ฟ๐ผ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป
In 2012 I started working at Wells Fargo as a personal banker, and one of the questions they asked during the interview process was what area I wanted to focus on for my career, and I had zero idea. Luckily the branch I worked in had a fantastic financial advisor who encouraged me to learn more about investing because he thought I would be good at it. And thus began my love for all things investing.
๐ช๐ต๐ฎ๐ ๐ถ๐ ๐๐ผ๐๐ฟ ๐ถ๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐ ๐๐๐ฟ๐ฎ๐๐ฒ๐ด๐?
Value tilting toward quality. I try to hold companies for the long-term. I haven't sold any positions, including my dog, $INTC in over 2 years. My main goal is to find high-quality businesses and hold them until the thesis changes. If the thesis changes, then I will sell. Part of finding these potential investments is assessing the fair value of the company using a DCF, while not perfect, it helps me be consistent and remain patient. I am willing to expand my fair value if I believe the company has a long runway ala Visa. But I try hard to remain patient and wait for my pitch.
๐๐ผ๐ ๐บ๐ฎ๐ป๐ ๐๐๐ผ๐ฐ๐ธ๐ ๐ฎ๐ฟ๐ฒ ๐ฐ๐๐ฟ๐ฟ๐ฒ๐ป๐๐น๐ ๐ต๐ฒ๐น๐ฑ ๐ถ๐ป ๐๐ผ๐๐ฟ ๐ฝ๐ผ๐ฟ๐๐ณ๐ผ๐น๐ถ๐ผ?
I currently own 16 stocks.
๐ช๐ต๐ถ๐ฐ๐ต ๐๐ฒ๐ฐ๐๐ผ๐ฟ๐ ๐ฑ๐ผ ๐๐ผ๐ ๐บ๐ฎ๐ถ๐ป๐น๐ ๐ณ๐ผ๐ฐ๐๐ ๐ผ๐ป?
Fintech mostly, with the current 16 comprised of 7 fintech/financials, working to branch away with $TXN, $WSO, and $TSMC and others.
๐ช๐ต๐ฎ๐ ๐ฎ๐ฟ๐ฒ ๐๐ผ๐๐ฟ ๐๐ผ๐ฝ ๐ฏ ๐ต๐ถ๐ด๐ต๐ฒ๐๐ ๐ฐ๐ผ๐ป๐๐ถ๐ฐ๐๐ถ๐ผ๐ป ๐๐๐ผ๐ฐ๐ธ๐?
$V - Visa
$BRK.B - Berkshire Hathaway
$ADYEY - Adyen
๐ช๐ต๐ถ๐ฐ๐ต ๐๐๐ผ๐ฐ๐ธ ๐ต๐ฎ๐ ๐๐ต๐ฒ ๐ต๐ถ๐ด๐ต๐ฒ๐๐ ๐ฟ๐ฒ๐๐๐ฟ๐ป?
$BRK.B - Bershire Hathaway with 76% CAGR over the past three years.
๐ช๐ต๐ฎ๐ ๐ถ๐ ๐๐ต๐ฒ ๐ฏ๐ถ๐ด๐ด๐ฒ๐๐ ๐ถ๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐ ๐บ๐ถ๐๐๐ฎ๐ธ๐ฒ ๐๐ผ๐ ๐ต๐ฎ๐๐ฒ ๐บ๐ฎ๐ฑ๐ฒ?
Easy, buying Intel $INTC without knowing the semiconductor space or the company. The bottom line is I paid too high of a price without knowing the company or industry well enough.
๐ ๐ ๐ณ๐ฎ๐๐ผ๐ฟ๐ถ๐๐ฒ๐
Favorite book: Narrative and Numbers - Aswath Damodaran
Favorite podcast: The Canadian Investor Podcast by Braden Dennis and Simon Belanger @cdn_investing
Favorite quote: โChoosing individual stocks without any idea of what you're looking for is like running through a dynamite factory with a burning match. You may live, but you're still an idiot." - Joel Greenblatt
Favorite FinTwit account: Too many to list, but @Stock_Opine, @Giuliano_Mana, and @BrianFeroldi are some of my favorites.
๐ช๐ต๐ฒ๐ฟ๐ฒ ๐ฐ๐ฎ๐ป ๐๐ฒ ๐ณ๐ถ๐ป๐ฑ ๐บ๐ผ๐ฟ๐ฒ ๐ถ๐ป๐ณ๐ผ ๐ฎ๐ฏ๐ผ๐๐ ๐๐ผ๐?
On X @IFB_podcast and my website http://einvestingforbeginners.com
Disclaimer:
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