During their recent episode, Taylor, Carlisle, and Alexander Roepers discussed his Value Investing Strategy. Here’s an excerpt from the episode:

[Alex] Yeah, my pleasure. So I started Atlantic over 30 years ago, initially just in the US. And the idea was to concentrate capital and research on high conviction public equities.

And if you concentrate capital, you have to be careful and you need to go into areas that are in the area of competence and that have good margin of safety. So we started with a universe definition that excludes areas that we are uncomfortable with or that present idiosyncratic risks, such as technological obsolescence risk. That’s a mouthful, I…