YouSaid · the spoken record

Scott Barbee

lines on the record: 55
first: 2024-08-11
most recent: 2024-08-11
sittings or episodes: 1
sources: podcast

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“Ever going to Wall Street and wrote to Dilakman back when he was running Pershing Square and told him he was maybe three, four years older than I was and had started a hedge fund. So I'd say, hey, I'd love to meet you. And I set up a time and took the train up to New York. One of the first times I'd been up to New York, I hadn't been to New York much. But Bill was kind enough to make a whole bunch of calls and introduced me to a number of other people. So very, very kind to a really new person in the industry, which I'm really grateful for. I met Bob Rabati that day, which was one of the other folks you'd covered here recently and got to know a little bit to some of the other guys. But the other one I graduated, I ended up figuring out I could sort of, I felt like I had enough interaction with some of these folks who was making enough money on my trading. It might be worthwhile to try to do this on my own. And so I came down and bought into the small broker dealer investment advisor here in town.”
2024-08-11 · We Study Billionaires · TIP651: Value Investing in a Growth-Obsessed Market w/ Scott Barbee · IDENTIFIED FROM THE TRANSCRIPT
“And called him up and ended up working with him and Rich Greenberg over the summer and really starting to learn the business. So then for me after that, I ended up getting to know a number of folks, a couple of people that left Conbrothers. Alan had referred me to Bill Burno and Paul Gamble, who were down here in DC. They were the Washington, D.C. office of Con Brothers, but had left two or three years earlier and set up on their own a duly registered investment advisor broker dealer. And after my summer, I hung my brokerage license that I'd earned while I was at Simmons with the Brno& Gamble. And I started marketing discounted securities to the street while I was in my second year of business school. And Don was gracious enough to help bring me along and show me the ropes of how to do real good research on these companies. And so started to do that and ended up meeting the whole slew of others in the industry.”
2024-08-11 · We Study Billionaires · TIP651: Value Investing in a Growth-Obsessed Market w/ Scott Barbee · IDENTIFIED FROM THE TRANSCRIPT
“In business school, I saw that barons came out, and I think it highlighted the Kahn Brothers, which was Irving Khan was Ben Graham's teaching assistant at Columbia and worked at Graham Newman and one of the kind of the value all-star original gangsters, I guess. And Irving, you know, so I'd noticed that brothers had owned advanced marketing services too. And so I started to reverse engineer kind of what were the other stocks that they looked at and ended up calling up Alan, who is gracious enough to start a dialogue with me. that time in my early career in investing was really helpful. And then my real break was in some ways a summer job that I picked up, though. You know, I had a guy named Ken Corngable, who I passed at Wharton, who was walking across the campus, and he told me about a guy who he knew called Donald Smith, who was a deep value institutional investor. And that kind of chant encounter, you know, really changed my life because I got to know Don.”
2024-08-11 · We Study Billionaires · TIP651: Value Investing in a Growth-Obsessed Market w/ Scott Barbee · IDENTIFIED FROM THE TRANSCRIPT
“Interested in why different ones were going up or down as I would track those sheets. And just got very interested in value investing. There was an individual who came in, a young guy who came in from the business schools for their summer and he'd heard of Warren Buffett. So I'd gotten interested in Buffett and what he was doing and just started reading everything under the sun about Buffett longer and all these various value investors. So when I got into business school, I came to the conclusion I really wanted to make a switch. I bought a screen tool right when these market screening tools were just coming out and started looking at if you tighten up the screens really hard, you could see what came out and then went and hunted through the e-filings to try to really understand what these companies were about and came across my first company was advanced marketing services, which was a bookseller that distributed books through Costco and Walmart's and so forth. And it was in classic then Graham NetNet and bought it and made some money on it. And that really caught my attention then.”
2024-08-11 · We Study Billionaires · TIP651: Value Investing in a Growth-Obsessed Market w/ Scott Barbee · IDENTIFIED FROM THE TRANSCRIPT
“Oh gosh, that's a pretty big question. I got into investing, I think, a little bit later than a lot of folks. I've been interested in kind of, you know, as mechanical engineer in college. I'd worked at Chevron. I did a couple of summer jobs at Chevron and was very interested in being an entrepreneur and interested a little bit in investing that followed some of my family investments and bought and sold a few stocks, but really didn't kind of catch the bug until I'd gotten out of college. I took a job at Simmons and Company, which is an oil service investment bank doing their analyst rotational program. There, I started to listen to the conference calls with the various oil service companies and really got interested in what made the market tick. I was a very junior guy, but also did the monthly oil service fact sheet. So I was coming up with what was going on with the various valuations of the oil service companies on a month-by-month basis. So it became”
2024-08-11 · We Study Billionaires · TIP651: Value Investing in a Growth-Obsessed Market w/ Scott Barbee · IDENTIFIED FROM THE TRANSCRIPT