The Big Money's Made in the Big Moves: Samantha McLemore on Value Investing and Bill Miller's Legacy

An insightful conversation with Samantha McLemore, founder and CIO of Patient Capital Management, who spent over two decades investing alongside famed value investor Bill Miller before founding her own firm in 2020.Key Topics & TimestampsEarly Influences & Career Path (03:46 - 10:45)Sam's humble beginnings and early relationship with moneyWorking from age 12 and saving money through collegeFirst investing experience with college funds in Dell Computer during the late 90sMeeting Bill Miller at college and winning the "job lottery"Investment Philosophy (10:45 - 25:45)The power of long-term compoundingThinking about stocks as ownership of real businessesLessons learned from Bill Miller: "The big money's made in the big moves"Value investing that includes growth companies at reasonable pricesLooking beyond traditional financial statementsThe Amazon Story & Jeff Bezos (25:45 - 39:45)Meetings with Jeff Bezos and his insightsThe brilliance of Bezos' long-term thinkingBezos' focus on what won't change rather than what willThe benefit of public markets - participating in others' successInvestment Strategy & Client Relationships (39:45 - 48:45)"Volatility is the price you pay for returns"The ideal client profile for Patient Capital's approachMaximizing long-term capital growth versus capital preservationThe importance of having clients who understand drawdowns are part of the processNavigating Market Volatility (48:45 - 57:45)The futility of trying to time the marketThe importance of time in the market versus timing the marketManaging stress during market downturnsDaily meditation, exercise, and journaling as stress management toolsWomen in Investing (57:45 - 61:45)Advocating for more women in investingThe power of role modelsNatural advantages women may have as investorsActive vs. Passive Investing (61:45 - 68:45)Thoughts on the rise of passive investingThe concentration of the S&P 500 in top namesHow passive could change in a prolonged sideways marketThe importance of maintaining confidence during market downturnsDefinition of Success (68:45 - end)Success as happiness, fulfillment, and being proud of contributionsBeyond financial metrics to personal satisfactionMemorable Quotes"Compounding is so powerful. It should be taught so much earlier to everyone.""Volatility is the price you pay for returns.""The big money's made in the big moves.""Loss and pain is part of the process of growth and compounding. It is what you're paid for.""If you want something, go for it. There's always a shot.""The most powerful force in markets is compounding and the long-term time horizon.""If you are happy, fulfilled, content, and proud of your contributions, that's success."Podcast Program – Disclosure StatementBlue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.