Podcast Review | Sir Chris Hohn: Strategic Investing, Long-Term Value & Purpose — In Good Company Podcast

Sir Chris Hohn: Strategic Investing, Long-Term Value & Purpose — In Good Company Podcast

If there’s a final edge left in markets, Chris Hohn believes it’s this:

“The last free lunch is long-term investing.”

This episode of In Good Company is a sharp and thoughtful conversation between Nicolai Tangen (CEO of Norges Bank Investment Management) and Sir Chris Hohn, founder of The Children’s Investment Fund (TCI). TCI manages approximately US$60 billion with a refreshingly direct strategy: concentrated, high-conviction investing in companies with strong moats, solid governance, and long runways. Hohn doesn’t rely on complexity or fancy models. His edge is patience and discipline—two qualities that are increasingly rare in markets driven by short-termism.

Key takeaways:

• Concentration over diversification: Hohn typically runs a focused portfolio. He believes that if you know what you own, you don’t need to own 100 names. A handful of high-quality businesses—held through cycles—is enough.
• Governance matters: He’s known for his activist stance when boards aren’t acting in shareholder interests. But it’s not activism for the sake of it—it’s about unlocking long-term value.
• Capital with a purpose: Through TCI’s structure, a portion of the management fees goes directly to his philanthropic foundation, which deploys over US$500 million annually to climate and child health causes. Performance funds' purpose. That alignment is rare—and intentional.
• Discipline over forecasting: He doesn’t try to time markets or chase trends. Instead, he plays a narrow, deep game—only investing when the thesis is simple, durable, and backed by structural advantages.

If you value simplicity, durability, and purpose in investing, this is a conversation that reinforces some key themes, learnt from someone who practices what they preach.

‍

‍Link to Podcast

View more NAOS podcasts and book reviews‍