TIP726: From Obscurity to Opportunity: Jon Cukierwar’s Investment Edge
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You're listening to TIP. John Sukiruar has quietly built one of the most impressive emerging track records in global investing today. But John's route to success hasn't been the most conventional. After cutting his teeth under legendary value investor Bob Rabotti, where he learned about the power of truly independent thinking and deep bottom-up research, John launched his fund.
But instead of focusing on deep value, John focused on business templates that resonated with him. These were global stocks that tended to be smaller in size and were often overlooked by Wall Street. Now, while these companies may be obscure, they tend to tick the trifecta that John looks for, which are quality, growth, and value. Another interesting thing I learned about John was that he benchmarks his fund against the S<unk>P 500 despite never holding a single stock inside of that index. His reasoning for competing with that benchmark is explicitly the response that I'd want to hear if I ever decided to have someone else manage my money.
We'll look at why John prefers foreign markets to US ones and how he crosses the hurdle of understanding businesses in foreign countries. We'll also have a much closer look at what John looks for during his site visits and talks with management. If you've never gotten a chance to read any of John's research, you're in for a treat. His research during the due diligence process feels more on par with something like investigative journalism than what you'd expect versus the average analysis. This is how he decides if an investment is a true no-brainer.
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