William Green chats with François Rochon, an investing giant who’s beaten the market by a mile over nearly 30 years. Here, François explains how he’s generated stellar returns by investing in great businesses at reasonable valuations. Whether he’s buying stocks or collecting world-class art, his strategy is to own the “best of the best.” IN THIS EPISODE, YOU’LL LEARN: 00:00:00 - Intro 00:00:42 - How François Rochon began his market-beating investment journey three decades ago. 00:06:01 - How the “margin of safety” concept guides him in business, markets, & life. 00:10:38 - Why it’s critical for investors to have a long time horizon. 00:13:49 - How to become a better investor by cultivating humility & preparing for disappointment. 00:15:01 - How to succeed by investing in great companies at reasonable valuations. 00:17:04 - What he learned from Warren Buffett about the importance of owner’s earnings. 00:21:13 - Why François resists the temptation to overpay, even for outstanding companies. 00:24:54 - Why he highlights his investment mistakes in an annual list called the Podium of Errors. 00:32:54 - How to survive & thrive by taking a middle-of-the-road approach to diversification.  00:34:50 - Why he believes that market predictions are a waste of time. 00:45:11 - How the president of Constellation Software embodies everything he seeks in a leader. 00:51:57 - How the best businesses remind François of the beauty & uniqueness of great artworks.  01:06:08 - How François was influenced by studying & meeting investment icon Peter Lynch. 01:07:23 - What he learned from investing legend Lou Simpson. 01:13:01 - How the best investors succeed by straying from the tribe & forging their own path. 01:19:55 - How it helps him to read broadly about philosophy, art, science, history, and psychology. 01:23:42 - Why it’s rational, not naive, to be an unwavering optimist. 01:33:02 - Why François believes that persistence is the key to all great human achievement.  🤝 Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig and the other community members: https://theinvestorspodcast.com/mastermind 💰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: - Investing In Uncertain Times w/ Joel Greenblatt, Bill Miller, Howard Marks, François Rochon: https://youtu.be/TYVR7LwaevU - Investing in Quality Businesses & the Art of Lifelong Learning w/ Gautam Baid: https://youtu.be/_9l5XTZY5b0 🎧 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/richer-wiser-happier/the-best-of-the-best-w-francois-rochon/ 📖  BOOKS MENTIONED: - The Intelligent Investor by Benjamin Graham: https://amzn.to/3TmqsCw - Beating the Street by Peter Lynch: https://amzn.to/3DVBuJi - The Science of Hitting by Ted Williams: https://amzn.to/3WKoyi1 Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 💡 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 Richer, Wiser, Happier, William Green interviews high-profile guests such as Howard Marks, Joel Greenblatt, and Ray Dalio. Exploring what they can teach us about how to succeed in markets and life. 🌍 Website: https://www.theinvestorspodcast.com/richer-wiser-happier/  ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚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.