Interviews for Investors #2: Value Investing In South Africa with Sean Riskowitz
I’m excited to present our first premium interview for intelligent investors. This interview (which contains a 21 page transcript and 60 minute video) features a conversation with value investor, Sean Riskowitz, who shares experiences of investing in South Africa. You can learn more about the interview here.
- Becoming a hedge fund manager.
- Researching South African investments.
- The psychology of local South African investors.
- Building a circle of competence.
- Case Study: Finbond
- Case Study: Taste
Sean Riskowitz exemplifies the latest in global value investing. He was born in South Africa and lives in New York City. He invests solely in South Africa but is a student of quality business models and familiar with most quality companies from around the globe. Question him about the choice of concentrating in South Africa and he will modestly admit to feeling most comfortable in a market where he intimately understands the culture, government, economy, and consumer behavior. In short he is curious, disciplined, and focused on process over outcome.
The conversation below took place over a couple of hours. We talk about investing in South Africa and discuss Sean’s evolution from investing in net-nets (i.e. stocks trading below net current asset value) to investing in quality companies at attractive valuations. Always willing to talk from experience, Sean shares two case studies exemplifying his techniques and research process.