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Unpacking "Invest Like a Guru": Charlie Tian's Blueprint for Smart Investing
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Join us as we explore the core tenets of "Invest Like a Guru," Charlie Tian's transformative guide to value investing. Drawing from his journey from physicist to seasoned investor and hard-won lessons from the dot-com bubble , this episode unpacks Tian's central philosophy: "Buy only good companies at fair prices".
Discover what defines a "good company," focusing on those with:
- Consistent profitability and stable, double-digit operating margins.
- An asset-light structure with high Return on Invested Capital (ROIC) (15%+ typically).
- Continuous double-digit growth in revenue and earnings.
- A strong balance sheet with manageable debt.
We'll also delve into why certain investments like asset plays, turnarounds, and highly cyclical businesses should be largely avoided due to their propensity for value traps and permanent capital loss. Learn about the crucial role of market cycles and the psychological discipline needed to navigate market euphoria and panic. This episode provides actionable insights from "Invest Like a Guru," complemented by the robust tools available on GuruFocus.com.
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