Clay is joined by Andrew Brenton to discuss his biggest investment lessons from beating the market over the past 25 years. Andrew Brenton is the CEO and co-founder of Turtle Creek Asset Management, which has averaged a 20.3% annual return since 1998. A $10,000 investment would have grown to over $1.2 million by September 2024. Turtle Creek's Returns: https://www.turtlecreek.ca/our-returns/ IN THIS EPISODE YOU’LL LEARN: 0:00:00 - Intro 0:00:45 - The drawbacks of a buy-and-hold strategy 0:04:39 - Adding to positions with improving fundamentals 0:10:16 - Why the market is becoming less efficient 0:27:43 - Allocating to AI and software businesses 0:45:48 - How to think about risk investing in stocks 0:51:45 - Investments in the US versus Canada 0:56:49 - Kinsale Capital 1:04:51 - What keeps Andrew going after 30 years in the industry 1:10:24 - Outro 🤝 Network with like-minded value investors and get new stock ideas by joining the TIP Mastermind Community. https://www.theinvestorspodcast.com/mastermind/ 📊 Add the Fundrise Flagship Fund to your portfolio in just minutes and with as little as $10. http://fundrise.com/wsb 💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ ▶️ RELATED EPISODES: - How Turtle Creek Beat the Market Since 1998 | Value Investing Masterclass w/ Andrew Brenton: https://youtu.be/VfCJk7Wvldk - Betting Big on China & Lessons from Bear Markets w/ Richard Lawrence: https://youtu.be/HCIOB31s2Jo - Nomad Investment Partnership's Inactive Strategy for Market-Beating Returns! w/ Kyle Grieve: https://youtu.be/QN-32OPTI4g - Value Investing in a Growth Obsessed Market w/ Scott Barbee: https://youtu.be/bIlefOPLXDg - Value Investing Fundamentals & Current Market Conditions w/ John Huber: https://youtu.be/AFCtP2EfJs4 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/episodes/outperforming-the-market-managing-risk-market-inefficiencies-andrew-brenton/ 💡 OTHER RESOURCES - Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a 14-day free trial: https://www.sahg6dtr.com/59QC8Z/R74QP/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙 On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/ 📝 Help us understand our audience better so we can create a more intentional user experience by answering this survey! https://www.theinvestorspodcast.com/survey2023-youtube ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.