Interview with Paul Lountzis: Investing & Scuttlebutt Research

I’m happy to share with you a conversation with my friend Paul Lountzis of Lountzis Asset Management.

Over the years I’ve learned a lot about the art of scuttlebutt research from Paul. I asked him if he would share his insights with us, Paul agreed, and the rest as they say is history. Please leave your comments below the post and I’ll ask Paul to answer any questions or thoughts.

 Guest Bio:

Prior to forming Lountzis Asset Management, LLC, Mr. Lountzis was employed by Ruane, Cunniff & Company, Inc., New York, NY, a registered investment adviser managing the Sequoia Mutual Fund as well as private accounts, from 1990 through 1999 as an analyst, and as a partner from 1995 through 1999.

Mr. Lountzis was an analyst at Royce & Associates, Inc., New York, NY from 1989 through 1990 where he evaluated small and mid-cap stocks for purchase in institutional accounts as well as various mutual funds including the Pennsylvania Mutual Fund.

Full Interview:

Click Here For A Direct Link To The Full Interview

15 thoughts on “Interview with Paul Lountzis: Investing & Scuttlebutt Research

  1. Terrific interview… one of the best I’ve seen in a long time.
    Gives the viewer real insight into what it takes to be a succesfull investor.

  2. Thanks a lot for sharing wonderful interview. You have really complied excellent sets of questions and have let Paul do the speaking, unlike many other interviewers who interrupt the interviewee in between.

  3. Incredible interview. I like his idea on how great people/companies view their business with an ulterior motive.Paul has an incredible amount of passion.

  4. afterthought:

    I would have loved to hear more about his mistakes of commission. I was impressed with his research, so I wonder how did he do so much research, gain so much conviction on ideas but still make mistakes?

    We have all done it before, but I would have liked to learn about his commission mistakes.

    — Buffett’s five things, he talks about this, from his 1993 letter (I think he says 1983 in the video)
    http://berkshirehathaway.com/letters/1993.html

    1) The certainty with which the long-term economic
    characteristics of the business can be evaluated;

    2) The certainty with which management can be evaluated,
    both as to its ability to realize the full potential of
    the business and to wisely employ its cash flows;

    3) The certainty with which management can be counted on
    to channel the rewards from the business to the
    shareholders rather than to itself;

    4) The purchase price of the business;

    5) The levels of taxation and inflation that will be
    experienced and that will determine the degree by which
    an investor’s purchasing-power return is reduced from his
    gross return.

    Thanks again Miguel, you are awesome!

  5. wow. this guy is amazing. too many investors don’t do the field research work but this guy is next level.

  6. Just a really fantastic interview. Your technique is brilliant. Just ask a great question and let the other person talk. Interject once in a while if you want to steer the conversation in a particular way. We all wish that every interviewer would do the same. Keep up the great work. It is a real pleasure to have a site like yours. Thanks for all the hard work and time you put in.

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