William Green chats with Samantha McLemore, the founder of Patient Capital Management. After graduating magna cum laude from Washington and Lee University, she was hired by investing legend Bill Miller and spent 20 years working with him. They co-managed Miller Opportunity Trust, a top-performing mutual fund, for a decade until Bill recently retired and anointed her as his successor. Here, Samantha shares what she’s learned over the last two decades about how to outperform by thinking differently and developing a behavioral edge.
IN THIS EPISODE, YOU’LL LEARN:
- How Samantha McLemore & Bill Miller met when she was an undergraduate.
- How an insurance settlement from a dog bite sparked her interest in investing.
- What it was like being with Bill as the market crashed after 9/11.
- Why Samantha & Bill get excited in times of fear, pessimism, and panic.
- Why Bill & Samantha are betting on Bitcoin despite Warren Buffett’s fierce skepticism.
- What Samantha looks for when investing in promising early-stage companies.
- Why it’s critical to focus on valuations, regardless of how good a company may be.
- What she’s learned from spending time with Amazon founder Jeff Bezos.
- How the global financial crisis almost led her to quit the investment business.
- What’s helped her to handle the stress and pressure of investing.
- Why it’s smart to be a long-term bull about US stocks while also diversifying globally.
- How Samantha invests her own money.
- How she manages her time as a fund manager and mother of three young kids.
- What Peter Lynch said about the necessity of always being “in overdrive.”
- Why Samantha likes to invest in companies run by women.
- How Fidelity’s female customers outperformed its male customers by trading less.
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- Thoughts of a Philosophical Fighter Pilot by Jim Stockdale: amzn.to/3MBeQMk
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On Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life.
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