In this episode, William Green chats with Harold J. (“Jay”) Bowen III, President & CIO of Bowen, Hanes & Company. Jay & his late father generated dazzling returns for their biggest client, the Tampa Firefighters’ & Police Officers’ Pension Fund. The fund’s stock portfolio has achieved an annualized return of 14.4% over 50 years & a cumulative return of more than 81,000%. Here, Jay explains how they pulled this off, sharing one of the great untold stories of the investment world. 

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
08:37 - What makes the Tampa Firefighters’ & Police Officers’ Pension Fund special.
17:54 - How Jay Bowen’s father came to run the fund half a century ago.
29:09 - How to thrive by slashing fees, shunning consultants, & thinking long term.
38:54 - Why Jay takes a top-down thematic investment approach.
43:03 - How the fund made a fortune buying Coca-Cola before Buffett.
47:15 - Why it pays to bet on extraordinary CEOs.
51:09 - Why truly long-term investors shouldn’t bother with bonds.
1:05:31 - How Jay is positioned to profit from the Fourth Industrial Revolution.
1:10:27 - How he thinks about pricey stocks like Nvidia & Costco.
1:14:29 - How he invests in smaller companies he sees as future blue chips.
1:18:06 - Why he’s obsessed with the Federal Reserve.
1:22:16 - How to invest successfully in times of market mayhem.
1:37:58 - How being an endurance athlete has helped Jay as an investor.
1:53:58 - How he structures his days to optimize performance.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES
<ul>
<li>Jay Bowen’s investment firm, <a href="https://www.bowenhanes.com/">Bowen, Hanes & Company</a>. </li>
<li>Links to Jay Bowen’s <a href="https://www.bowenhanes.com/recent-news">media appearances</a>.</li>
<li>William Green’s podcast episode with <a href="https://link.chtbl.com/RWH020">Fred Martin</a> | <a href="https://www.theinvestorspodcast.com/richer-wiser-happier/the-disciplined-growth-investor-w-fred-martin/">YouTube Video</a>.</li>
<li>William Green’s podcast episode with <a href="https://link.chtbl.com/RWH046">Bob Robotti</a> | <a href="https://www.theinvestorspodcast.com/richer-wiser-happier/a-new-golden-age-w-bob-robotti/">YouTube Video</a>.</li>
<li>William Green’s book, “Richer, Wiser, Happier” – <a href="https://www.amazon.com/Richer-Wiser-Happier-Greatest-Investors/dp/1501164856?&linkCode=ll1&tag=tipnetwork-20&linkId=5e63abc914939d017bb94511e01c9eff&language=en_US&ref_=as_li_ss_tl">read the reviews</a>.</li>
<li>Follow William Green on <a href="https://twitter.com/williamgreen72">X</a>.</li>
<li>Check out all the books mentioned and discussed in our podcast episodes <a href="https://prodcast.io/rwh">here</a>.</li>
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Stig T. Brodersen

Preston Pysh

William Green

Clay Finck

RWH049: Crushing The Market Over 50 Years w/ Jay Bowen

In this episode, William Green chats with Harold J. (“Jay”) Bowen III, President & CIO of Bowen, Hanes & Company. Jay & his late father generated dazzling returns for their biggest client, the Tampa Firefighters’ & Police Officers’ Pension Fund. The fund’s stock portfolio has achieved an annualized return of 14.4% over 50 years & [&hellip;]

We Study Billionaires Episode #925

RWH049: Crushing The Market Over 50 Years w/ Jay Bowen