Loading video...

Video Failed to Load

Go Home

Chuck Akre explains his iconic Three-Legged Stool investing framework. The three business characteristics that together drive incredible long-term investment returns. Leg #1: Exceptional Business • Enduring, predictable high ROE & FCF • Identifiable, sustainable competitive advantages • Pricing power and inflation protection • Easy to understand • Avoid return-regulated...

Quartr_App's profile picture

Quartr

152,121 subscribers

143,160 views • 3 years ago •via X (Twitter)

FinanceScience & TechnologyEducation
LIVE

Anya Rossi• Live Now

Private livecam show

9 Comments

Pedro Ortiz's profile picture
Pedro Ortiz3 years ago

So easy and so difficult at the same time...

Quartr's profile picture
Quartr3 years ago

Exactly!

Foxy the cat's profile picture
Foxy the cat3 years ago

This is an excellent talk. Thanks!

Quality&Alpha 💹 📈 💸's profile picture
Quality&Alpha 💹 📈 💸3 years ago

Astonishing work, my friend!!

TangerineCap's profile picture
TangerineCap3 years ago

Chuck has one of the best investment approaches and his success speaks for itself. He should be required reading for every investor.

Quartr's profile picture
Quartr3 years ago

We couldn’t agree more!

ryan's profile picture
ryan3 years ago

Chuck Akre is definitely an investing idol of mine

Pratik Kodial's profile picture
Pratik Kodial3 years ago

This never gets old.. great share!!

Tadele Gelan's profile picture
Tadele Gelan3 years ago

Great piece of advice. Thank you for sharing.

Related Videos

Is AI the “worst” business? 🤔 Buffett and Munger told us in 1998 the “BEST business” is one that requires no incremental capital to generate more cash. But the “WORST business” is one that draws you into investing more and more capital, but the hoped for cash flows never truly manifest, always requiring the next capital investment to simply stand still…
4:03

Is AI the “worst” business? 🤔 Buffett and Munger told us in 1998 the “BEST business” is one that requires no incremental capital to generate more cash. But the “WORST business” is one that draws you into investing more and more capital, but the hoped for cash flows never truly manifest, always requiring the next capital investment to simply stand still…

Compound248 💰

18,196 views • 6 months ago

$CVE.TO Cheap at 1.6x: "Cenovus trades at around 1.6 times their capital base" "The company was generating about 35% free cash flow yield relative to its capital base." "A business producing a sustainable 35% return on capital doesn’t trade at just 2 times capital long-term." "It typically commands multiples of 4-6 times capital or higher, making the current valuation look attractive." •Cole Smead - CEO, Smead Capital Management
1:05

$CVE.TO Cheap at 1.6x: "Cenovus trades at around 1.6 times their capital base" "The company was generating about 35% free cash flow yield relative to its capital base." "A business producing a sustainable 35% return on capital doesn’t trade at just 2 times capital long-term." "It typically commands multiples of 4-6 times capital or higher, making the current valuation look attractive." •Cole Smead - CEO, Smead Capital Management

Trevor Rose

13,450 views • 3 months ago

A look back at the New York leg of my US visit where I engaged with industry and business leaders to unlock new opportunities for partnerships, investment, and growth. 🇮🇳🇺🇸
1:33

A look back at the New York leg of my US visit where I engaged with industry and business leaders to unlock new opportunities for partnerships, investment, and growth. 🇮🇳🇺🇸

Piyush Goyal

23,921 views • 1 month ago

SurgoCap's Mala Gaonkar explains how she actually defines a moat “So when I say moat, what do I mean by that? I mean a business that has very high incremental ROICs, because ultimately the value of a business is going to be the return on incremental invested capital times the dollars you can put to work at those incremental returns, right?” “So it’s a balance of what is driving that ROIC, and multiple ways are really the best ways, right? So if it’s just by driving up price, I don’t love that. But if it’s driving up price and there’s feature innovation and there’s market growth through new geographies or new products, that’s great. So multiple levers on driving ROIC is one.” “The second is the capital you can put to work at those incremental returns. There are many businesses that have, you know, not many, but there’s some great business that have high incremental returns, but the capital they can put to work at those incremental returns are diminishing. The growth market isn’t there.” “And so trying to understand what category of business that is, and then even if they do have a lot of capital they can put to work, and we’re seeing this in the technology space today.” “Execution risk is enormous.”
0:57

SurgoCap's Mala Gaonkar explains how she actually defines a moat “So when I say moat, what do I mean by that? I mean a business that has very high incremental ROICs, because ultimately the value of a business is going to be the return on incremental invested capital times the dollars you can put to work at those incremental returns, right?” “So it’s a balance of what is driving that ROIC, and multiple ways are really the best ways, right? So if it’s just by driving up price, I don’t love that. But if it’s driving up price and there’s feature innovation and there’s market growth through new geographies or new products, that’s great. So multiple levers on driving ROIC is one.” “The second is the capital you can put to work at those incremental returns. There are many businesses that have, you know, not many, but there’s some great business that have high incremental returns, but the capital they can put to work at those incremental returns are diminishing. The growth market isn’t there.” “And so trying to understand what category of business that is, and then even if they do have a lot of capital they can put to work, and we’re seeing this in the technology space today.” “Execution risk is enormous.”

Fireside Tapes

40,358 views • 22 days ago

Good global health requires investment, which no institution can deliver alone. European Investment Bank and World Health Organization (WHO) launched the Health Impact Investment Platform, bringing countries, health experts and development finance together to catalyse long term investments in primary health care. This #UNGA, we came together to discuss how to mobilise capital at scale alongside development banks, philanthropy and the private sector to turn health challenges into investment opportunities and measurable results. Together!
1:23

Good global health requires investment, which no institution can deliver alone. European Investment Bank and World Health Organization (WHO) launched the Health Impact Investment Platform, bringing countries, health experts and development finance together to catalyse long term investments in primary health care. This #UNGA, we came together to discuss how to mobilise capital at scale alongside development banks, philanthropy and the private sector to turn health challenges into investment opportunities and measurable results. Together!

Tedros Adhanom Ghebreyesus

33,536 views • 1 month ago

Congratulations to the Capital of Capital Abu Dhabi 🇦🇪 it’s human as well as financial capital. The silicone valley of investment management. 👇🏽👇🏽👇🏽
2:43

Congratulations to the Capital of Capital Abu Dhabi 🇦🇪 it’s human as well as financial capital. The silicone valley of investment management. 👇🏽👇🏽👇🏽

Nadhim Zahawi

60,829 views • 10 months ago

🚀 The 3 Core Principles of Trading Success! 🚀 At we follow a proven system built on three key pillars: 🔹 1 - Consistency – Discipline and systematic execution lead to long-term success. 🔹 2 - Risk Management – Capital protection through smart position sizing & clear stops. 🔹 3 - Patience – Avoiding impulsive decisions and letting trades play out. 💡 “The difference between very successful traders and everybody else tends to be the ability to apply the strategy over the longer term.” 📊 Want High-Quality Trade Alerts & Market Insights? Get real-time stock & options trade alerts, market analysis, and expert strategies at 📌 Join Now → 🚀 #StockMarket #TradingStrategy #TradeAlerts #OptionsTrading #RiskManagement #Investing
0:42

🚀 The 3 Core Principles of Trading Success! 🚀 At we follow a proven system built on three key pillars: 🔹 1 - Consistency – Discipline and systematic execution lead to long-term success. 🔹 2 - Risk Management – Capital protection through smart position sizing & clear stops. 🔹 3 - Patience – Avoiding impulsive decisions and letting trades play out. 💡 “The difference between very successful traders and everybody else tends to be the ability to apply the strategy over the longer term.” 📊 Want High-Quality Trade Alerts & Market Insights? Get real-time stock & options trade alerts, market analysis, and expert strategies at 📌 Join Now → 🚀 #StockMarket #TradingStrategy #TradeAlerts #OptionsTrading #RiskManagement #Investing

Pavlos D ✈️

21,983 views • 1 year ago

EP.47: Activist Investor Pushing for an Epic Turnaround at Eagle Bancorp ($EGBN) My former colleague and banking guru, James Abbott, is living his passion with the launch of Diligence Capital Management (DCM). DCM runs a concentrated, net-long financials strategy alongside a tighter-net long/short financials portfolio. James and his team bring more than 50 years of combined experience in financial services—and a deep understanding of how banks operate, where they underperform, and what it takes to improve them. In this episode, James explains why DCM became actively involved with Eagle Bancorp ($EGBN), how he identified an underperforming bank in need of change, and why he believes the market is still underestimating its earnings power. We also discuss lessons from the 2008 financial crisis and the collapse of Silicon Valley Bank, as well as why spending time inside a business can create an investing edge that is difficult to replicate from the outside. "My goal was to be a portfolio manager just like Peter Lynch." "The market just doesn't really appreciate what's going on here." Stocks: $EGBN, $ZION Not Investment Advice. (00:00) Introduction to James Abbott and the Eagle Bancorp investment thesis (02:14) How a Peter Lynch article inspired James Abbott's investing career (05:44) Reflections on FBR's research culture and working alongside Dan Ives (10:28) Founding Diligence Capital Management and launching the firm (11:46) The impact of Silicon Valley Bank's collapse and banking sector contagion (16:37) Why Eagle Bancorp became a high-conviction investment (17:48) Assessing Eagle Bancorp's earnings power and excess capital (19:09) Concentration risk and the challenges facing Eagle Bancorp (31:51) Corporate governance reforms and separating the chairman and CEO roles (41:14) The path to achieving $6 per share in earnings power This episode is powered by: 💡Oxford Data Plan 💡AlphaSense
43:36

EP.47: Activist Investor Pushing for an Epic Turnaround at Eagle Bancorp ($EGBN) My former colleague and banking guru, James Abbott, is living his passion with the launch of Diligence Capital Management (DCM). DCM runs a concentrated, net-long financials strategy alongside a tighter-net long/short financials portfolio. James and his team bring more than 50 years of combined experience in financial services—and a deep understanding of how banks operate, where they underperform, and what it takes to improve them. In this episode, James explains why DCM became actively involved with Eagle Bancorp ($EGBN), how he identified an underperforming bank in need of change, and why he believes the market is still underestimating its earnings power. We also discuss lessons from the 2008 financial crisis and the collapse of Silicon Valley Bank, as well as why spending time inside a business can create an investing edge that is difficult to replicate from the outside. "My goal was to be a portfolio manager just like Peter Lynch." "The market just doesn't really appreciate what's going on here." Stocks: $EGBN, $ZION Not Investment Advice. (00:00) Introduction to James Abbott and the Eagle Bancorp investment thesis (02:14) How a Peter Lynch article inspired James Abbott's investing career (05:44) Reflections on FBR's research culture and working alongside Dan Ives (10:28) Founding Diligence Capital Management and launching the firm (11:46) The impact of Silicon Valley Bank's collapse and banking sector contagion (16:37) Why Eagle Bancorp became a high-conviction investment (17:48) Assessing Eagle Bancorp's earnings power and excess capital (19:09) Concentration risk and the challenges facing Eagle Bancorp (31:51) Corporate governance reforms and separating the chairman and CEO roles (41:14) The path to achieving $6 per share in earnings power This episode is powered by: 💡Oxford Data Plan 💡AlphaSense

Doug Garber

18,151 views • 2 months ago

Economist Jim Stanford on the new Productivity Mega Deduction: "Frankly, it's a better way to try and encourage investment than an across-the-board corporate tax cut. A corporate tax cut, the company may or may not take the money they save and reinvest it. In this case, though, you have to pay to play. If you're not investing in new capital in Canada, then the deduction is worthless."
0:51

Economist Jim Stanford on the new Productivity Mega Deduction: "Frankly, it's a better way to try and encourage investment than an across-the-board corporate tax cut. A corporate tax cut, the company may or may not take the money they save and reinvest it. In this case, though, you have to pay to play. If you're not investing in new capital in Canada, then the deduction is worthless."

Scott Robertson

13,543 views • 1 month ago

Some conversations give you stock ideas. Others change the way you think about investing. This is one of those conversations. At SmallCapSpotlight at BSE, Devina Mehra reflects on building First Global, navigating three decades of market cycles, and why independent thinking has been her biggest investing edge. From the evolution of India's capital markets to the myth of finding the "next multibagger," this conversation is filled with practical lessons on investing, entrepreneurship, and long-term wealth creation. If you're serious about becoming a better investor—not just finding the next stock tip—this one's worth watching till the end. Let's help you build wealth with a disciplined, research-led investment strategy. DM us or email enquiry@firstglobalsec.com Nikunj Dalmia
49:10

Some conversations give you stock ideas. Others change the way you think about investing. This is one of those conversations. At SmallCapSpotlight at BSE, Devina Mehra reflects on building First Global, navigating three decades of market cycles, and why independent thinking has been her biggest investing edge. From the evolution of India's capital markets to the myth of finding the "next multibagger," this conversation is filled with practical lessons on investing, entrepreneurship, and long-term wealth creation. If you're serious about becoming a better investor—not just finding the next stock tip—this one's worth watching till the end. Let's help you build wealth with a disciplined, research-led investment strategy. DM us or email [email protected] Nikunj Dalmia

First Global

39,348 views • 3 months ago

We are delighted to announce that Knighthead Capital Management have completed a 49% acquisition of Birmingham Phoenix to continue their investment in the city
4:03

We are delighted to announce that Knighthead Capital Management have completed a 49% acquisition of Birmingham Phoenix to continue their investment in the city

Bears

67,609 views • 1 year ago

Alex Morris (TSOH Investment Research), is the author of Buffett and Munger Unscripted, a topic-by-topic organization of three decades of Berkshire Hathaway shareholder meetings, and he writes TSOH Investment Research, where he publishes his portfolio and discloses every change before he makes it. He spent roughly twenty years investing, most recently at a firm managing over a billion dollars, before going independent in 2021. Alex explains how the Ted Williams "fat pitch" idea shapes a portfolio of ten to fifteen names where the largest positions run north of 10%, and why he makes only a handful of changes a year. He walks through Microsoft and Dollar Tree as investments that worked, and Comcast and Disney as theses he held too long, including what he missed on fixed wireless taking share from cable broadband. He also describes writing to Warren Buffett for permission before starting the book, what three decades of meetings revealed about how Buffett and Munger weighted capital allocation, and why he thinks their 2000 warning about the internet making American business less profitable has aged well. Chapters 00:00 Introduction to the episode and guest 02:48 The science of hitting and its analogy to investing 04:28 Origin of the TSOH name and its significance 05:44 Investment philosophy and portfolio construction 08:40 Shift towards smaller companies and micro caps 11:19 Case study: Microsoft as a formative investment 13:32 Case study: Dollar Tree and strategic evolution 16:57 Dealing with large gains and position management 21:17 Lessons from bad investments: Comcast and Disney 24:56 Understanding long-term investment horizons and patience 28:31 The importance of macro perspective and market timing 29:46 Writing the Warren Buffett and Charlie Munger book 34:01 Charlie Munger's 2009 market insight 35:21 Market outlook and macroeconomic views 48:36 Misunderstood aspects of Warren Buffett's approach 54:55 Lessons from Warren Buffett's early valuation methods 01:00:00 Buffett's quick decision-making and industry knowledge 01:01:49 Evolution of Buffett's valuation approach 01:04:12 Learning from Buffett's experience with brands and acquisitions 01:05:14 The value of decades of experience in investing
1:05:41

Alex Morris (TSOH Investment Research), is the author of Buffett and Munger Unscripted, a topic-by-topic organization of three decades of Berkshire Hathaway shareholder meetings, and he writes TSOH Investment Research, where he publishes his portfolio and discloses every change before he makes it. He spent roughly twenty years investing, most recently at a firm managing over a billion dollars, before going independent in 2021. Alex explains how the Ted Williams "fat pitch" idea shapes a portfolio of ten to fifteen names where the largest positions run north of 10%, and why he makes only a handful of changes a year. He walks through Microsoft and Dollar Tree as investments that worked, and Comcast and Disney as theses he held too long, including what he missed on fixed wireless taking share from cable broadband. He also describes writing to Warren Buffett for permission before starting the book, what three decades of meetings revealed about how Buffett and Munger weighted capital allocation, and why he thinks their 2000 warning about the internet making American business less profitable has aged well. Chapters 00:00 Introduction to the episode and guest 02:48 The science of hitting and its analogy to investing 04:28 Origin of the TSOH name and its significance 05:44 Investment philosophy and portfolio construction 08:40 Shift towards smaller companies and micro caps 11:19 Case study: Microsoft as a formative investment 13:32 Case study: Dollar Tree and strategic evolution 16:57 Dealing with large gains and position management 21:17 Lessons from bad investments: Comcast and Disney 24:56 Understanding long-term investment horizons and patience 28:31 The importance of macro perspective and market timing 29:46 Writing the Warren Buffett and Charlie Munger book 34:01 Charlie Munger's 2009 market insight 35:21 Market outlook and macroeconomic views 48:36 Misunderstood aspects of Warren Buffett's approach 54:55 Lessons from Warren Buffett's early valuation methods 01:00:00 Buffett's quick decision-making and industry knowledge 01:01:49 Evolution of Buffett's valuation approach 01:04:12 Learning from Buffett's experience with brands and acquisitions 01:05:14 The value of decades of experience in investing

David Barbato

11,876 views • 1 month ago

The idea of “taxing the rich” may sound simple, but the reality is more complicated. In my view, when tax rates become too punitive, high earners, entrepreneurs, and investors often have the ability to relocate their capital and sometimes themselves to places with more competitive policies. History has shown this pattern in states and countries around the world. The bigger question is how to encourage innovation, job creation, and long term investment. Entrepreneurs build businesses, take risks, and employ millions of people, and America’s ability to attract talent and capital has long been one of its greatest strengths. If we want to preserve that advantage, we need policies that keep opportunity and investment here rather than pushing them elsewhere.
2:11

The idea of “taxing the rich” may sound simple, but the reality is more complicated. In my view, when tax rates become too punitive, high earners, entrepreneurs, and investors often have the ability to relocate their capital and sometimes themselves to places with more competitive policies. History has shown this pattern in states and countries around the world. The bigger question is how to encourage innovation, job creation, and long term investment. Entrepreneurs build businesses, take risks, and employ millions of people, and America’s ability to attract talent and capital has long been one of its greatest strengths. If we want to preserve that advantage, we need policies that keep opportunity and investment here rather than pushing them elsewhere.

Kevin O'Leary aka Mr. Wonderful

30,845 views • 4 months ago

Welcome to Akre: the capital of Newroz in Kurdistan.
1:21

Welcome to Akre: the capital of Newroz in Kurdistan.

Masrour Barzani

73,115 views • 2 years ago

Welcome to the Open Market Group. The ALL-IN-ONE Democratized Investment & Wealth Management Infrastructure Platform backed by Real World Businesses (RWB). Only the best and most promising investment rounds make the cut! Join us to experience a new standard in wealth management. ✅ Enter the world of opportunities. Top-notch investment rounds selection for the community. ✅ Forget about the Excel sheets. Easy-to-use contribution-claim and portfolio management tools. ✅ Investing doesn't have to be boring. Level up your Investor Social Profile, earn achievements, XP, and rewards. ✅ Power to Communities. Create Guilds to simplify the investment syndication process and make it exciting for your community. ✅ Built with the best. Backed by the biggest and most reputable names in the Blockchain & RWB industries. Unparalleled expertise and due diligence. ✅ Won't leave you hanging. 24/7 support & platform management excellence. One Platform to gather them all...coming soon Early supporters will be rewarded. > Only Possible With OMG.
0:49

Welcome to the Open Market Group. The ALL-IN-ONE Democratized Investment & Wealth Management Infrastructure Platform backed by Real World Businesses (RWB). Only the best and most promising investment rounds make the cut! Join us to experience a new standard in wealth management. ✅ Enter the world of opportunities. Top-notch investment rounds selection for the community. ✅ Forget about the Excel sheets. Easy-to-use contribution-claim and portfolio management tools. ✅ Investing doesn't have to be boring. Level up your Investor Social Profile, earn achievements, XP, and rewards. ✅ Power to Communities. Create Guilds to simplify the investment syndication process and make it exciting for your community. ✅ Built with the best. Backed by the biggest and most reputable names in the Blockchain & RWB industries. Unparalleled expertise and due diligence. ✅ Won't leave you hanging. 24/7 support & platform management excellence. One Platform to gather them all...coming soon Early supporters will be rewarded. > Only Possible With OMG.

OMG | Open Market Group

97,211 views • 2 years ago