In his recent interview on the KindredCast Podcast, John Malone discussed a number of topics including why he doesn’t consider himself a stock picker. Here’s an excerpt from the interview:
Malone: So for me a covered call is the way I take risk in the equity market.
Bourkoff: Exactly, you’re much more comfortable as a strategic operator with a capital structure and allocating that capital around a CEO with an operating strategy and a scale play than an investing strategy around a portfolio of growth venture capital.
Malone: I’m not a stock picker at all okay. You’re absolutely right. What my mathematics can be, which is limited vision, is a world where I can use leverage and tax deferral and growing cash flow in order to create value okay. And I’m very comfortable in that world.
And growing businesses by putting pieces together and synergize that world. That’s the world that I’m emotionally comfortable with. Intellectually maybe I’m capable of understanding some of these other things but I would never bet on it. Too risky!
You can find the entire interview here:
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