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: Henrik Karlsen @KarlsenHenrik
Age: 48
Residence: Denmark
Invests since: 2005
๐๐ป๐๐ฟ๐ผ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป
Early in my career, I landed a job at Gartner in London, one of the most important IT and technology advisory firms globally. I joined during the early dot-com years and experienced the rise and fall of the bubble, which burst in 2000. The job sparked my interest in technology and innovation, and in 2005, I began investing in tech companies.
Earlier this year I co-founded Horizon3 @Horizon3Invest, which is an investment fund in Denmark listed on the Danish stock exchange.
๐ช๐ต๐ฎ๐ ๐ถ๐ ๐๐ผ๐๐ฟ ๐ถ๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐ ๐๐๐ฟ๐ฎ๐๐ฒ๐ด๐?
I buy and verify positions in innovative and market leading growth companies with structural tailwinds, positive cash flows, strong balance sheets and leadership teams with skin in the game.
๐๐ผ๐ ๐บ๐ฎ๐ป๐ ๐๐๐ผ๐ฐ๐ธ๐ ๐ฎ๐ฟ๐ฒ ๐ฐ๐๐ฟ๐ฟ๐ฒ๐ป๐๐น๐ ๐ต๐ฒ๐น๐ฑ ๐ถ๐ป ๐๐ผ๐๐ฟ ๐ฝ๐ผ๐ฟ๐๐ณ๐ผ๐น๐ถ๐ผ?
I exclusively hold shares in my own fund, which allows me to co-own stocks in 24 companies. This provides adequate diversification, although it remains relatively concentrated.
๐ช๐ต๐ถ๐ฐ๐ต ๐๐ฒ๐ฐ๐๐ผ๐ฟ๐ ๐ฑ๐ผ ๐๐ผ๐ ๐บ๐ฎ๐ถ๐ป๐น๐ ๐ณ๐ผ๐ฐ๐๐ ๐ผ๐ป?
I have a bias toward technology and growth. As a long-term investor, this is where I discover the most attractive opportunities.
๐ช๐ต๐ฎ๐ ๐ฎ๐ฟ๐ฒ ๐๐ผ๐๐ฟ ๐๐ผ๐ฝ ๐ฏ ๐ต๐ถ๐ด๐ต๐ฒ๐๐ ๐ฐ๐ผ๐ป๐๐ถ๐ฐ๐๐ถ๐ผ๐ป ๐๐๐ผ๐ฐ๐ธ๐?
This is a tough question, as I like all the 24 companies, which I am indirectly invested in. But I can not see myself selling Microsoft $MSFT, Nubank $NU or Crowdstrike $CRWD anytime soon.
๐ช๐ต๐ถ๐ฐ๐ต ๐๐๐ผ๐ฐ๐ธ ๐ต๐ฎ๐ ๐๐ต๐ฒ ๐ต๐ถ๐ด๐ต๐ฒ๐๐ ๐ฟ๐ฒ๐๐๐ฟ๐ป?
That will be Nvidia $NVDA.
๐ช๐ต๐ฎ๐ ๐ถ๐ ๐๐ต๐ฒ ๐ฏ๐ถ๐ด๐ด๐ฒ๐๐ ๐ถ๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐ ๐บ๐ถ๐๐๐ฎ๐ธ๐ฒ ๐๐ผ๐ ๐ต๐ฎ๐๐ฒ ๐บ๐ฎ๐ฑ๐ฒ?
There are plenty of mistakes I've made. Selling too early is definitely one. However, the most costly mistake has probably been trying to hold other people's conviction in a stock. It's easy when it goes up but challenging when it goes down.
๐ ๐ ๐ณ๐ฎ๐๐ผ๐ฟ๐ถ๐๐ฒ๐
Favorite book: One Up On Wall Street by Peter Lynch and Richer, Wiser, Happier by William Green
Favorite podcast: 7investing @7investing and Invest Like The Best @InvestLikeBest
Favorite quote: "Itโs far better to buy a wonderful company at a fair price, than a fair company at a wonderful price" - Warren Buffett
Favorite FinTwit account: There are many, but I like Brian Stoffelโs @Brian_Stoffel_ way of explaining complicated stuff in a way that is easy to understand.
๐ช๐ต๐ฒ๐ฟ๐ฒ ๐ฐ๐ฎ๐ป ๐๐ฒ ๐ณ๐ถ๐ป๐ฑ ๐บ๐ผ๐ฟ๐ฒ ๐ถ๐ป๐ณ๐ผ ๐ฎ๐ฏ๐ผ๐๐ ๐๐ผ๐?
I am quite active on X as @KarlsenHenrik, but we also have a newsletter that can be subscribed to at http://horizon3.dk. However, it's only available in Danish, so it may not make much sense to most people.
Disclaimer:
The information and opinions provided in this article are for informational and educational purposes only and should not be considered as investment advice or a recommendation to buy, sell, or hold any financial product, security, or asset. The Future Investors does not provide personalized investment advice and is not a licensed financial advisor. Always do your own research before making any investment decisions and consult with a qualified financial professional before making any investment decisions. Please consult the general disclaimer for more details.