12.23 Great Investors’ Best Ideas Annual Investment Symposium

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I had the pleasure of attending the 7th annual Great Investors’ Best Ideas Investment Symposium in October.

GIBI, for short, was founded in 2007 by Shad Rowe and John Neill for the purpose of creating a premier investment event while raising funds for The Michael J. Fox Foundation for Parkinson’s Research and the Vickery Meadow Youth Development Foundation.

The GIBI Investment Symposium always has some of the world’s most respected investors who share their best investment ideas. This year’s lineup of speakers was, as usual, an impressive list of industry experts.

My biggest takeaways from GIBI were words from Chuck Akre:

  1. An investor should stick with his circle of competence and admit when he is not sure of things.
  2. When evaluating a company or stock, focus on three things:
  3. Business Model- understand the source of Return on Invested Capital (ROIC).
  4. Good Management – strong operators that partner with shareholders.
  5. Solid Reinvestment Process – understand how the company uses free cash flow (FCF) historically.
  6. The price you pay for a stock is very important.
  7. This year’s event was another great success raising money for two worthy causes all due to the generosity of the GIBI Foundation.