About this episode
On today’s episode, Clay Finck is joined by Andrew Brenton to discuss the inefficiencies in the stock market as well as his investment thesis on Floor & Decor and Kinsale Capital.
Andrew Brenton is the CEO and co-founder of Turtle Creek Asset Management. Since its inception in 1998, Turtle Creek has achieved an average annual return of 18.8% versus just 8.7% for the S&P 500. $10,000 invested in their fund at inception would have grown to over $1 million, and had that money been invested in the market, it would have been worth around $95,000.
IN THIS EPISODE YOU’LL LEARN:
00:00:00 - Intro
00:01:28 - Andrew’s thoughts on whether today’s markets are becoming more or less efficient
00:13:08 - How today’s market reminds him of the 1999 tech business
00:16:17 - His investment thesis and intrinsic value estimate of Floor & Decor
00:41:26 - Why Andrew is long Kinsale Capital in the fund
00:57:05 - Andrew’s thoughts on weathering periods of underperformance relative to the broader market
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
BOOKS AND RESOURCES
Join the exclusive ?????????????????????????????????????????TIP Mastermind Community????????????????????????????????????????? to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Cliff Asness’s paper: The Less-Efficient Market Hypothesis.
Check out Turtle Creek Asset Management.
Related Episode: Listen to TIP592: Outperforming the Market Since 1998 w/ Andrew Brenton, or watch the video.
Related Episode: TIP674: Outperforming the Market, Managing Risk, & Market Inefficiencies w/ Andrew Brenton, or watch the video.
Follow Clay on ??X?? and ??LinkedIn??.
Related ??????????books?????????? mentioned in the podcast.
Ad-free episodes on our
