Turning Over as Many Rocks as Possible
Interview with James Emanuel, Author of "Fabric of Success"
My guest on the show this week was James Emanuel, a private investor and the founder of Rock & Turner. James has thought deeply about many aspects of the investment world—and is an active writer on his Substack as well as being the author of a number of books. In this deep conversation, we discussed:
• What led James to focus on investing full time;
• Why he decided to run what is essentially an all-cap global strategy;
• The reasons he has such a negative opinion of dividends;
• Why he calls stock-based compensation the most abused aspect of corporate finance; and
• His newest book, Fabric of Success.
Please enjoy this excellent episode here:
James has a particular disdain for companies that pay dividends, especially those that have the ability to reinvest capital at high returns. In this clip, James explains his rationale in detail:
We have recorded some terrific episodes that are slated to come out over the next few months. This is a busy time of year so we may choose to slow play the releases so that our listeners actually have the time to enjoy them.
Thanks, as always, for following the Compounders Podcast,
Ben Claremon