YouSaid · the spoken record

Samantha McLemore

lines on the record: 110
first: 2023-04-16
most recent: 2023-04-16
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Sure, send me your resume. And so I sent it. And then I went and interviewed everyone on the team there on his team, you know, a lot of the analysts, the CFO. So I did broad interviews with everyone. And I guess I got good reviews. They talked to my professor, the investments professor, who really talked me up. I thank him to this very day for that. And so, and I remember that there was actually CMBC was profiling investment clubs. And I was one of our three speakers on that. Now, I'd already got an offer by them. But Bill told me they all tuned in and listened to that as well. So I don't know what it was. I think they hadn't come across many candidates right out of undergrad who had had that experience in investing in an interest in investing. So something about that worked out well in my favor.”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT
“Well, it's really interesting because you hear so often, and I hear people say, you know, and I was told, you can't get a job on the buy side right out of college. So I like to tell people, you know, don't listen to that, try. And so I think with Bill he had attended, again, a number of lunch and presentation. I think in general he was impressed with the quality of the work of all the students, not necessarily me, but just overall what we were doing there. Obviously his firm was growing quickly at the time and he'd had some good experiences hiring young people right out of undergrad. He likes to joke. He used to like to joke about getting people young so he could imprint them like the baby bird when it rises out of him. And that's the first thing it sees is its mother, right? And then it learns from that point on, this is who I'm attached to. And so I think a lot of people in the business like to train people young. So he just said, sure, send me, you know, Bill loves optionality. So he said.”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, the whole concept, I mean, similar to Bill, the concept of making money with money is very striking if you come from humble means without much money and you're used to working so many hours for what you make. And so you take note. You definitely take note. And I was very interested in learning more about that.”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT
“It was a big deal to him. How am I going to invest this appropriately? And this was in the late 90s. So he asked me if I thought he should put it in the stock market. And I'm like, yeah, dad, whatever you think. Like, I have no idea. You know, that's fine. I think he wanted my buy-in in case something happened to this. And it worked out quite well. I remember he bought Dell and it was the late 90s. So that mid-90s probably when he did that. So that worked out great, very well. And then when I was in college, obviously the market peaked, you know, in the late 90s and then turned down. And I remember my dad saying, should we get out? And I was like, whatever you think, Dad, you know, so he sold it all. And he had great timing for me. And so that got me more interested to see, okay, wait, these markets go up. They go down. This is very interesting.”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT
“That's his amazing story. He has the great story about learning about stocks because he was out mowing the lawn all day, sweating, like doing this hard labor. And then his dad's looking at, you know, the stock quotes in the newspaper and explaining to Bill what it was. And he's like, wait, so what does this mean? No, it means it went up a quarter. And Bill's like, what do you have to do to get it to go up a quarter? He's like, nothing. He's like, you mean you don't have to do any work? I just mowed along for two hours for a quarter. That's what I want to do. And he said it took him a lot longer to realize you can make money by not doing any work. But if you want to outperform, you have to do a lot more work. And interestingly, I actually got introduced to stocks from my dad. I didn't have the immediate interest that builded. I was more like, okay, dad, yeah, whatever. Maybe I'll be interested in that. We had, I had some insurance proceeds from actually a dog bite. And again, we didn't have a lot of money. So this was my college fund. And, you know, my dad worked in construction. And so”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, we didn't grow up with much money. And so I started working when I was 12 every day. I babysat every day after school. I would walk to”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT
“After the first semester of chemistry, I quickly realized that was not the path for me. And so then I looked around and said, what am I going to do with myself? And they had a business school. I knew I was analytical and I thought, let me take some classes over in the business school.”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT
“Was a very odd choice. I didn't have the most sophisticated college selection process. I grew up in Vermont. I was so sick of freezing, walking from my car to the school parking lot, not being able to formulate words. I hated the cold. I knew I wanted a small liberal arts college, but I wanted to go south. And I thought I want to be able to drive home in about a day. So that put me in the Virginia area. I got something in the mail from Washington and Lee. And so we visited it. I visited it with my mom. She fell in love with it because it's such a beautiful campus. And I thought I was going to major in chemistry at the time. But my dad thought I should try to find a profession where I could actually make some money. So chemical engineering was better. And again, there weren't many schools that had both chemical engineering and chemistry. Not that I had a real interest in engineering, but I thought I could placate him a little. So I wound up at Washington.”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT
“Which he had a lunch with the investment club, and he attended a presentation. I don't know if you remember all this, if you were trailing him the whole time, I guess you were at these things too. And I think at one of the investment club presentations, I asked Bill if I could send him a resume. I thought I was going to go into investment banking, but I was more interested in investments. And so I like to say I won the job lottery. I mean, it was the fall of 2001. The tech bubble was bursting. I've heard you tell the story about how bills calmly buying stocks. And my professor was very struck by that as well. At that time, I didn't know enough to know how difficult it was to do that, to buy stocks when the world's falling apart of a stock is falling apart. And then, yeah, I joined him right out of undergrad at Lake Mason.”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT
“Yes, that's an amazing coincidence. I didn't realize it was you. I remember a reporter being with him and a colleague being with him. And so, yeah, that's amazing. Well, I was in an investment club at school and in an investments class and my professor was a complete Bill Miller fan junkie. He really talked up the streak and how this investor had beaten the market for 10 years in a row and no one else had ever accomplished that. So when Bill was arriving, we were all ready to meet this, what we thought of as a god of investing. And so I remember attending Bill gave a speech in the chapel. And I remember attending that first. That was my first introduction to Bill. And I remember only probably following, I don't know, 50%, if that, I'm maybe being generous, but I'm like, I know this sounds right. It's really smart. And then I met Bill at a lunch.”
2023-04-16 · We Study Billionaires · RWH025: Patient Capital W/ Samantha McLemore · IDENTIFIED FROM THE TRANSCRIPT