Podcast & Book Reviews

October 2, 2019

Podcast Review | Invest Like The Best: Chuck Akre, The Three Legged Stool

By Rob Miller | Portfolio Manager at NAOS Asset Management

Invest Like The Best Podcast by Patrick O’Shaughnessy

Patrick O’Shaughnessy is the CEO of O’Shaughnessy Asset Management and in his podcast series he sits down with some excellent money managers for in-depth interviews. Chuck Akre is the media-shy founder and CIO of Akre Asset Management, a circa US$7bn firm that operates well away from Wall Street in rural Virginia. Akre Asset Management was founded in the late 1980s and is a long term concentrated value manager following their ‘Three Legged Stool’ investment philosophy.

According to Akre, the ‘Three Legged Stool’ investment philosophy he developed derives its meaning from a reference to a three-legged milking stool farmers would sit on. The stool is sturdy, durable and due to it being low to the ground the farmer wouldn’t fall far if it flipped over, meaning your downside risk is manageable. All characteristics of a good business. This interview with Chuck Akre is an insightful podcast with a very practical thinker.

Listen to the podcast

 

 

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