IG’s Post

There's an art to investor letters that goes beyond balance sheets and portfolio picks. Giverny Capital Inc annual letter is a masterstroke I look forward to each year. It’s a showcase of humility and education, designed not just to inform, but to build a bridge of trust through transparency and long-term vision. What truly sets it apart is the individual flair. In their delightful tradition, artwork adorns the cover, the "podium of errors" humbly spotlights mistakes, and straightforward analysis sheds light on key holdings. Such candour is a cornerstone of true insight. I'm drawn to Giverny's values: treating clients as partners, as equals, with the fundamental belief that their money should be managed as meticulously as their own. It’s an ethos that resonates with me deeply, reinforcing that the true measure of investment success is as much about character and principles as it is about percentages and profit. This year’s letter holds a special significance, marking the 30th anniversary of the Rochon Global Portfolio. It's a momentous occasion that reflects on past achievements and exemplifies the spectacular effects of consistent investing over time. Decades of disciplined strategy, patience, and adaptability are captured in these pages, offering an instructive and inspiring narrative. #InvestorLetters #Communication #InvestmentPhilosophy

📢 Register Now… @Darren Johnson is back by popular demand, to host our first in the #MeettheFundManager series of virtual events. 💡 Meet the Fund Manager – St. James’s Place in Conversation with @Aristotle 📅 Tuesday 7 May 2024 ⏰ Time: 12:30 – 13:30 📍 Location: Zoom Webinar 📈 Speakers: @Jim Henderson, CFA, Managing Director, Client Portfolio Manager Together, Darren and Jim will provide their thoughts on our current financial landscape and what to expect throughout 2024, answering some of your burning questions along the way. An exciting opportunity for all keen investors 💰 The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested. https://lnkd.in/emR7S34y #MeetTheFundManager #InvestmentStrategies #Financialplanning LSM Wealth is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) The `St. James's Place Partnership' and the titles `Partner' and `Partner Practice' are marketing terms used to describe St. James's Place representatives.

📢 Register Now…   @Darren Johnson is back by popular demand, to host our first in the #MeettheFundManager series of virtual events.     💡 Meet the Fund Manager – St. James’s Place in Conversation with @Aristotle   📅 Tuesday 7 May 2024 ⏰ Time: 12:30 – 13:30 📍 Location: Zoom Webinar 📈 Speakers: @Jim Henderson, CFA, Managing Director, Client Portfolio Manager   Together, Darren and Jim will provide their thoughts on our current financial landscape and what to expect throughout 2024, answering some of your burning questions along the way. An exciting opportunity for all keen investors 💰 The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested    #MeetTheFundManager #InvestmentStrategies #Financialplanning   https://lnkd.in/dag3VuY7 Thames Wealth Management is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) The `St. James's Place Partnership' and the titles `Partner' and `Partner Practice' are marketing terms used to describe St. James's Place representatives.   SJP Approved 21/02/2024

It’s an exciting time for the future of financial advice. Striver’s recent Brimstone event brought together graduates and industry leaders, including BT’s Tim Howard and Katrina Parolin, to find out why it’s a great place for early-career professionals to start an exciting, rewarding, and dynamic career in financial advice.  #striverbrimstone #btacademy #financialadvisers 

💰 𝐆𝐫𝐞𝐚𝐭𝐞𝐬𝐭 𝐒𝐩𝐞𝐜𝐮𝐥𝐚𝐭𝐨𝐫 𝐨𝐟 𝐀𝐥𝐥 𝐓𝐢𝐦𝐞𝐬?💰 Jesse Livermore, often referred to as the "Great Bear of Wall Street," was one of the most famous and enigmatic stock traders in American history. Born in 1877 in Shrewsbury, Massachusetts, Livermore became a legendary figure due to his ability to speculate on the stock market with extraordinary success—and equally spectacular failures. Livermore started his career as a teenager, working as a board boy in a stock brokerage office, where he posted stock prices on a chalkboard. Fascinated by the movements of stocks, he began making small bets, initially with remarkable success. By the age of 16, he had earned enough to leave his job and trade full-time. Throughout his career, Livermore's trading style was characterized by his keen ability to analyze market trends and capitalize on them, often going against the prevailing sentiment. His most notable achievement came during the Panic of 1907 and again in 1929, when he shorted the market just before the crashes, earning him millions and solidifying his reputation as one of the greatest traders of all time. However, his career was also marked by dramatic losses and bankruptcies, highlighting the volatile nature of his trading strategies. Livermore's life outside the market was equally tumultuous. He experienced multiple marriages, personal tragedies, and eventually financial ruin. Despite his earlier successes, he lost his entire fortune several times and struggled with depression. Tragically, Livermore's life ended in 1940 when he took his own life in a New York City hotel. Jesse Livermore's legacy endures, particularly through the book "Reminiscences of a Stock Operator" by Edwin Lefèvre, which is a semi-autobiographical account of Livermore's life and trading philosophy. The book is considered a classic in the field of trading and is still widely read by traders and investors for its insights into market psychology and speculative strategies. Livermore's story serves as both an inspiration and a cautionary tale, illustrating the heights of financial success and the depths of personal despair that can accompany a life in speculative trading. 𝐈𝐧𝐯𝐞𝐬𝐭, 𝐃𝐨𝐧’𝐭 𝐬𝐩𝐞𝐜𝐮𝐥𝐚𝐭𝐞! At Value Investing Academy, We Care to Make You a Better Investor. #GrowviaViA #ViAHuatMePls #ValueInvesting #ValueInvestingAcademy #Stocks

📢 Register Now… @Darren Johnson is back by popular demand, to host our first in the #MeettheFundManager series of virtual events. 💡 Meet the Fund Manager – St. James’s Place in Conversation with @Aristotle   📅 Tuesday 7 May 2024 ⏰ Time: 12:30 – 13:30 📍 Location: Zoom Webinar https://lnkd.in/emR7S34y 📈 Speakers: @Jim Henderson, CFA, Managing Director, Client Portfolio Manager Together, Darren and Jim will provide their thoughts on our current financial landscape and what to expect throughout 2024, answering some of your burning questions along the way. An exciting opportunity for all keen investors 💰 The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested  #MeetTheFundManager #InvestmentStrategies #Financialplanning Curzon Wealth Management is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) The `St. James's Place Partnership' and the titles `Partner' and `Partner Practice' are marketing terms used to describe St. James's Place representatives. SJP Approved 21/02/2024

📢 Register Now… @Darren Johnson is back by popular demand, to host our first in the #MeettheFundManager series of virtual events. 💡 Meet the Fund Manager – St. James’s Place in Conversation with @Aristotle   📅 Tuesday 7 May 2024 ⏰ Time: 12:30 – 13:30 📍 Location: Zoom Webinar https://lnkd.in/eG7xA-7v 📈 Speakers: @Jim Henderson, CFA, Managing Director, Client Portfolio Manager Together, Darren and Jim will provide their thoughts on our current financial landscape and what to expect throughout 2024, answering some of your burning questions along the way. An exciting opportunity for all keen investors 💰 The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested #MeetTheFundManager #InvestmentStrategies #Financialplanning Curzon Wealth Management is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) The `St. James's Place Partnership' and the titles `Partner' and `Partner Practice' are marketing terms used to describe St. James's Place representatives. SJP Approved 21/02/2024

I was a little nervous being on camera, but it was a pleasure to share my positive feedback with the BT and Striver teams 🎉 As a full time CSO at a suburban financial planning firm and an online financial planning student at Deakin, the opportunity to meet others in the industry at events like these is so precious to me. Not just as a wonderful chance to network with other young people in the finance space, but to meet its leaders and gain an understanding of the current industry environment. Brimstone allowed me to step outside my scope of experience and discover new ways of doing things. Financial planning can be such a varied industry and it’s easy to forget that in the day-to-day, when all you have is an example of how one or two advisers at your company operate. I love discovering how different financial planning businesses operate and how they structure their priorities in their culture and processes. It inspires me with improvements and ideas I can implement in my own career and back at my own workplace. More than that though, it keeps me passionate about my career this industry. It’s inspiring to see Striver pioneering the way with Brimstone 2024, and I hope more organisations will follow suit. I truly believe that the more this space invests in young people and its support staff, the more it can blossom as an industry. As we heard at Brimstone, the financial planning space has so much growth potential over the next few years. Investing in our future and ongoing learning at all levels of the industry is such a worthwhile endeavour.

In the world of sports (as in business), it's amazing how the difference between victory and second place can often be measured by the smallest of margins. With the Kentucky Derby coming up, I thought I’d talk about one of my favorite “small margin” examples from the world of horse racing. The racehorse Citation made history by winning 16 consecutive races and the American Triple Crown, earning over $1 million in prize money. The average difference between first and second place across those races was just four-tenths of a second, or – as they say – one “nose” length. This example underscores how even slight advantages can translate into substantial gaps – be it in recognition, earnings, or legacy. Small margins can be key to success. During a recent Houston event, alongside my colleague John Thorpe, we opened with the impact that just four-tenths of a second can have. Our audience was a group of #financialprofessionals who had taken Invesco's Practice Innovation Index (PII) assessment benchmarking their financial practices. So why share the Citation story? Because it illustrates that success isn't always about fixing what's broken; it's about fine-tuning what's already working. Most wealth professionals our team speaks to (like this Houston group) are already successful, with practices that may be highly effective in attracting and serving clients. But by using tools like Invesco's PII, they can benchmark against their peers and pinpoint those small but impactful areas where they can perform even better (learn more here: https://inves.co/3QnS1Ne). It's the subtle refinements – that 'nose' length – that can lead to exponential results when compounded in a few key areas.