Paul Black - Gratitude, Fun, and Growth Stocks (Capital Allocators, EP.51)

<p>Paul Black is Co-CEO and portfolio manager at WCM Investment Management, a $26 billion manager of global equities that he joined when it was a $200 million boutique in 1989.  With so much of the institutional world, including my own training, focused on value investing, I was pleasantly surprised to learn about a large, high performing growth stock manager located in a non-descript building in Laguna Beach, California.</p> <p>Our conversation starts with Paul’s trial-by-fire entry into the business and turns to growth stock investing, including defining a great growth company, searching for widening moats, assessing a culture tied to competitive advantage, creating a positive culture, learning from mistakes, identifying tailwinds, and protecting the downside.</p> <p>Paul embodies the principals he preaches and offers some tasty food for thought.</p> <p> </p> <p><strong>Learn More</strong></p> <p>Join Ted's mailing list at <a href= "http://capitalallocatorspodcast.com">CapitalAllocatorsPodcast.com</a></p> <p>Write a review on <a href= "https://itunes.apple.com/us/podcast/capital-allocators-with-ted-seides/id1223764016">iTunes</a></p> <p>Follow Ted on twitter at <a href= "http://www.twitter.com/tseides">@tseides</a></p> <p>For more episodes go to <a href= "http://capitalallocatorspodcast.com/podcast">CapitalAllocatorsPodcast.com/Podcast</a></p> <p> </p> <p><strong>Show Notes</strong></p> <p>2:54 – How Paul got started in the business</p> <p>4:52 – Lessons learned in the early years of his career</p> <p>             5:56 – <a href= "https://www.amazon.com/Common-Stocks-Uncommon-Profits-Writings/dp/0471445509"> Common Stocks and Uncommon Profits and Other Writings</a></p> <p>             6:01 – <a href= "https://www.amazon.com/Margin-Safety-Risk-Averse-Strategies-Thoughtful/dp/0887305105"> Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor</a></p> <p>             6:05 – <a href= "https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661"> The Intell