On episode 252 of The Compound and Friends, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Downtown Josh Brown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and Michael Batnick are joined by ⁠Ron Baron⁠ and ⁠Michael Baron⁠ of Baron Capital to discuss: long-term investing, Elon Musk, Tesla, SpaceX, artificial intelligence, and the power of owning exceptional businesses for decades. Ron explains how Baron Capital grew from $10 million in assets to approximately $70 billion, why the firm invested repeatedly in SpaceX, and why he believes it could eventually become the world’s most valuable company. Ron and Michael also discuss what they saw in Tesla before most of Wall Street, how they evaluate visionary founders, and what allows them to hold through extreme volatility. This episode is sponsored by Nuveen. Start your alternative investments journey with Nuveen by visiting http://nuveen.com/alternatives ▶ 00:00 - Cold Open ▶ 10:47 - Intro ▶ 14:12 - Tesla & SpaceX ▶ 21:07 - Elon Musk ▶ 32:20 - Looking Ahead When Investing ▶ 35:31 - Ron Baron’s Beginnings in Investing ▶ 42:32 - Inflation ▶ 45:59 - Holding Stocks Through Downturns ▶ 49:13 - Their Investment Philosophy, Tesla & SpaceX ▶ 1:00:12 - AI vs Software, and FactSet ▶ 1:09:41 - The Baron Investment Conference 👕 Check out The Compound shop: https://www.idontshop.com 🎙️Listen to our podcasts: TCAF: https://podcasts.thecompoundnews.com/show/TCAF/ Animal Spirits: https://podcasts.thecompoundnews.com/show/animalspirits/ Ask The Compound: https://podcasts.thecompoundnews.com/show/ATC/ The Compound Newsletter: https://www.thecompoundnews.com/subscribe Linkedin: https://www.linkedin.com/company/the-compound-media/ Instagram: https://instagram.com/thecompoundnews Twitter: https://twitter.com/thecompoundnews Tik Tok: https://www.tiktok.com/@thecompoundnews Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Josh Brown and Michael Batnick are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ The Compound Media, Incorporated, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. #thecompound #investing #stockmarket #stocks