#145: My Favorite Stock Idea for 2021, Why I Don't Short Stocks, and More: Q&A w/ Eric Schleien

Join Eric Schleien in this Q&A format as he answers
questions on short positions, investment strategies, destroying
your own conclusions on business and investments, and so much
more. When asked about the mistakes he's made with investments
and what can be learned from them, Eric expounds on what he
thinks is a rear-view mirror thinking and on how he managed to
lose more money to areas of omission than commission. 
Summary

While it's common for others to work on becoming large firms,
Eric's unique gameplay is to stay boutique and
manageable. For Eric, it's not necessarily rejecting growth.
Instead, it's more about being able to hold control and balance
on different elements. When you're running multiple large funds,
it will reach a point where you start losing the competitive
advantage by becoming too large, he explains.


In this episode, the group also brings up the relevance of
Environmental and Social Trends in determining the long-term
value of companies. Quoting from Brookfield Asset Management CEO
Bruce Flatt, "It's not a good business to not be a good steward
of the environment.", for Eric, if a business is taking steps to
have an adaptable and inclusive culture – value is quickly
elevated. Even though it's not the end-all-be-all, for Eric, when
a business does good in proving its CSR, it helps contribute to
building a competitive advantage and value in the long run.
Show Notes

[01:20] Podcasting is going to be bigger than radio; On
Liberated Syndication/Libsyn (LSYN).

[06:26] How do you size your investments and know what to
trim?

[10:38] The art form to portfolio management.

[14:00] On the threat inflation poses.

[19:50] The advantages of being a boutique firm.

[21:53] On not taking short positions.

[26:26] Has the pandemic changed investment strategies?

[28:22] Rear-view mirror thinking.

[34:05] How do you factor in ESTs on a business's long-term
value?

[36:39] There's only so much you can control when you
run large funds.

[42:06] When an investor insists on dividends…

Resources

Principles of Power - The Art & Wisdom of Badassery Book
by Eric Schleien
About Eric Schleien

Over the past decade, Eric has trained thousands of individuals,
including board members of public companies as well as several
Fortune 500 CEOs. Eric specializes in organizational culture and
has become a leading authority on organizational culture in the
investment industry.


Eric has been investing for 15 years and has been using
breakthrough coaching methodologies for over a decade. Eric had
the insight to combine proven coaching methodologies with
shareholder activism techniques to create an entirely new model
for shareholder activism that was more reliable and created
greater sustainable results in a rapid period of time. On
average, Tribal Leadership produces a 3-5x increase in profits of
culturally troubled companies within an average of 24 months or
less.


Eric currently resides in Philadelphia, PA.
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