How to Build Resilient Wealth w/ Matthew McLennan (RWH067)

In this episode, William Green talks with Matthew McLennan, who oversees about $130 billion at First Eagle Investments. Matt is head of the firm’s Global Value team & a portfolio manager of its Global Value, Global Equity, International Value, International Equity & US Value strategies. Here, he explores how to build resilient wealth by patiently holding a “non-uniform” portfolio of scarce assets that should endure & prosper even in difficult conditions. This episode provides a time-tested survival strategy for investors looking to navigate this period of extreme uncertainty. What you'll learn here: 00:00:00 - Intro 00:02:56 - Why Matthew McLennan thinks investors should prepare for turmoil. 00:03:27 - How to construct a resilient portfolio by thinking like a gardener. 00:04:56 - Why Matt loves businesses with scarce assets in mundane industries. 00:07:29 - Why survival is the key to investment success. 00:08:38 - How cash & gold provide a ballast in the event of unexpected storms. 00:11:46 - Why he’s wary of a highly concentrated investment strategy. 00:34:50 - How patience has become a powerful edge in a hyperactive world. 00:43:13 - How to build long-term success by focusing on process, not rewards. 00:50:52 - How to think better by harnessing our right-brain capabilities. 01:07:36 - Why “what’s hot today” is likely to produce terrible investment returns. 01:09:45 - How studying wine & playing backgammon help him as an investor. 01:13:21 - Why he favors a team-based approach, instead of being a lone wolf. Transcript & Guest Info: https://www.theinvestorspodcast.com/richer-wiser-happier/prudent-investing-in-perilous-times-w-matthew-mclennan/ Our Sponsors: 🤝 Network with like-minded value investors and get new stock ideas by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 💎 Explore a new business weekly and decide if it deserves a spot in your portfolio. https://www.theinvestorspodcast.com/intrinsic-value-podcast/ ▶️ Related Episodes: - The Quest For Resilient Wealth Creation w/ Matthew McLennan: https://youtu.be/SkWLmM-1pxM - Navigating an AI-Driven Market w/ François Rochon | Constellation Software, Kinsale Capital, & LVMH: https://youtu.be/P_-vRg1QnU0 - Stock Market Maestros: How Top Fund Managers Beat the Market w/ Kyle Grieve: https://youtu.be/EypWd5o6Wjs 📖 Books Mentioned: - History of the Peloponnesian War by Thucydides: https://amzn.to/4txQ1mA - The Prize by Daniel Yergin: https://amzn.to/3Q3zuIT - The Fiscal Theory of the Price Level by John Cochrane: https://amzn.to/4tFc8HS - The Snow Leopard by Peter Matthiesen: https://amzn.to/4mldipA - The Matter with Things by Iain McGilchrist: https://amzn.to/48fosqj - Old Masters and Young Geniuses by David Galenson: https://amzn.to/4cCjeam - The Spirit of the Laws by Charles de Montesquieu: https://amzn.to/4vDXlzc - A New Kind of Science by Stephen Wolfram: https://amzn.to/41rGtha - My Early Life by Winston Churchill: https://amzn.to/4cCWGGz - Richer, Wiser, Happier by William Green: https://amzn.to/426wpeY Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP Visit our website: https://www.theinvestorspodcast.com/richer-wiser-happier/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #Investing #ValueInvesting #ResilientInvesting #PortfolioStrategy #MatthewMcLennan

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