Tom Russo is the Managing Member of Gardner Russo & Gardner, where he manages $11 billion in a long only, global value strategy. Tom buys the stock of global consumer businesses with great brands and holds them for a really long time. He looks for businesses with a capacity to reinvest free cash flow and a capacity to suffer through short-term pain in order to achieve long-term gain. Tom started his investment career at the Sequoia Fund in New York, where he worked from 1984 to 1988. His first partnership, Semper Vic Partners, has compounded at 14.6% per year for 33 years, besting the S&P 500 by 3.6% per annum. Tom is a graduate of Dartmouth College (B.A., 1977), and Stanford Business and Law Schools (JD/MBA, 1984). He has served on Dean's Advisory Council for Stanford Law School, Dartmouth College's President's Leadership Council, and the Advisory Board for the Heilbrunn Center for Graham & Dodd Investing at Columbia Business School, as well as on the boards of the Winston Churchill Foundation of the U.S., Facing History and Ourselves, and Storm King Art Center. Our conversation covers how Tom created an investment strategy by personalizing early lessons from Warren Buffett, the capacity to re-invest, the capacity to suffer, and what it takes to own a stock for decades.  Tom’s time horizon and fortitude as an investor parallels those of institutions with permanent capital. Listeners will get a fresh perspective on what it means to be a long-term investor Learn More   Discuss show and Read the Transcript   Join Ted's mailing list at CapitalAllocatorsPodcast.com   Join the Capital Allocators Forum   Write a review on iTunes   Follow Ted on twitter at @tseides   For more episodes go to CapitalAllocatorsPodcast.com/Podcast

Rahul Moodgal has spent 20 years as a fund raiser across long only strategies, hedge funds, fund of funds, customized solutions, start-ups, and non-profits.  Collectively, Rahul has raised and helped raise $60 billion for firms since 2005.  He started his career in the industry at powerhouse TT International, and later joined The Children’s Investment Fund (TCI) where he led the marketing effort that raised $20 billion in just 3½ years.  Within TCI’s affiliate model, Rahul also was responsible for the largest India fund raise in history ($1 billion for TCI New Horizon Fund), and the largest sector fund launch in history ($1.1 billion for Algebris Investments). Our conversation covers capital raising lessons learned from teaching, the value of transparency, the gold rush before 2008, the lean times afterwards, modern fee structures, the three key points to effective marketing, the three traits that will kill you, the two biggest issues start-up funds face, the best questions asked by leading allocators, and some of the worst horror stories in attempted capital raising. We close comparing by fund raising for charities and investment firms.  Learn More   Discuss show and Read the Transcript   Join Ted's mailing list at CapitalAllocatorsPodcast.com   Join the Capital Allocators Forum   Write a review on iTunes   Follow Ted on twitter at @tseides   For more episodes go to CapitalAllocatorsPodcast.com/Podcast