On today’s episode, Clay is joined by Richard Lawrence. Richard is the Founder and Executive Chairman of Overlook Investments, a leading value-oriented investment firm in Asia that he founded in 1991.
Over a 30-year time period, Overlook compounded capital at 14.3% per year — a remarkable record of growth that is a testament to their consistent ability to find and invest in Asia’s best companies.

IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
01:53 - Why the 1980s was the most transformative period in Asia’s history.
04:03 - Key lessons that Richard learned from his father, who owned an investment firm in New York.
07:10 - Why Richard prefers to invest in the most simple businesses.
12:23 - What Richard learned from having his apartment ransacked after publicly calling out a management team his firm invested in.
13:17 - What was happening during the Asian financial crisis that made it an economic nightmare for businesses all throughout Asia?
22:33 - Why Richard regrets ever listening to Buffett’s advice on ignoring the broader macro environment when investing in great companies.
23:51 - How Richard helped Taiwan Semiconductor improve their capital allocation decisions.
38:55 - Why Richard generally prefers dividends over share buybacks.
42:24 - What led Richard to recommend TSMC’s stock to Warren Buffett?
44:33 - Why Overlook has started to bet big on China.
50:49 - Richard’s view on the current macro situation in China.
58:55 - The biggest misconceptions that US investors have with respect to China.
01:00:35 - How Jeremy Grantham influenced Richard to be more mindful about the environmental risks that lie ahead
And so much more!

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

BOOKS AND RESOURCES
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<li>Join the exclusive <a href="https://www.theinvestorspodcast.com/mastermind-2/">TIP Mastermind Community</a> to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.</li>
<li>Richard’s fund: <a href="https://overlookinv.com/">Overlook Investments</a>.</li>
<li>Richard’s book: <a href="https://amzn.to/3zBkda6">The Model</a>.</li>
<li>Book mentioned: <a href="https://amzn.to/4ddRiXq">The Economics of Climate Change</a>.</li>
<li>John Holdren’s <a href="https://www.belfercenter.org/publication/meeting-energy-climate-challenge-science-technology-and-policy-crossroads#:~:text=On%20October%203%2C%202022%2C%20John,recording%20of%20his%20talk%20can">annual presentation on climate change</a>.</li>
<li>Related Episode: Listen to <a href="https://link.chtbl.com/WSB647">WSB647: Value Investing Masterclass w/ Soo Chuen Tan</a>, or watch the <a href="https://www.theinvestorspodcast.com/episodes/value-investing-masterclass-soo-chuen-tan/">video</a>.</li>
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Stig T. Brodersen

Preston Pysh

William Green

Clay Finck

TIP661: Betting Big on China & Lessons from Bear Markets w/ Richard Lawrence

On today’s episode, Clay is joined by Richard Lawrence. Richard is the Founder and Executive Chairman of Overlook Investments, a leading value-oriented investment firm in Asia that he founded in 1991. Over a 30-year time period, Overlook compounded capital at 14.3% per year — a remarkable record of growth that is a testament to their [&hellip;]

We Study Billionaires Episode #933

TIP661: Betting Big on China & Lessons from Bear Markets w/ Richard Lawrence