5GQ Bogumil Baranowski - Outsmarting the Crowd

Bogumil K. Baranowski is a New York City-based value investor, author, and investment professional with over a decade of experience. He works at Tocqueville Asset Management, where he is the founder and portfolio manager of a private investment fund. He was born in Poland, educated in Paris and Brussels. He enjoys making a difference in people's lives through writing and teaching. He is the author of Outsmarting the Crowd: A Value Investor's Guide to Starting, Building, and Keeping a Family Fortune.

 

I loved that you stressed the importance of saving.  I repeatedly tell clients that saving is the most important part, and if they do that correctly, they don’t really need me on the investment front.  When you think about the path to wealth, it goes Earn, Save, Invest.  Most of us can’t control how much we earn day to day, or our investment returns.  Yet we all can control how much we save.  Why does the world seem preoccupied with earning and investing and ignores saving?

You’re a fan of averaging down slowly, perhaps buying 1% bites at a time of an individual business.  Is that difficult to do when it seems like good companies (which I know you’re a fan of) always seem to be trading at their 52-week high?  Solutions, other than just extreme patience?

When public school and teaching to standards testing seem to crush the creativity and joy of learning from many, how does one properly go about learning things for one’s self?  What are some keys you’ve found to successful self-learning.

You rightly advise not to check stock quotes too often.  What about if you’re a professional investor?  How often do you check your portfolio and watch list?  Be honest.  :)

Your book covers how to start, build, and keep a family fortune.  I’d like to know about how we can keep a family fortune please?