In a recent interview with The Investor’s Podcast, Guy Spier opened up about his philosophy—not just on investing, but on life. “I am alive,” he began with a smile, “and I’m glad to be on a podcast with you.”
Spier recounted his journey to investing in The Economist, a private company that, in his view, stands for much more than profits. “They were trying to get people to think in a rational way about the allocation of scarce resources,” he explained.
Its longevity, influence, and commitment to intellectual discourse resonated deeply with him. “It aspires to be the mixing ground of the most important economic ideas of the day… once you’re at the top of that mountain, it’s very hard to dislodge you.”
But Spier didn’t just invest in The Economist for its brand equity or subscriber base. There was something personal. “There’s something that I get a personal benefit out of being associated with The Economist and talking about it,” he shared. “It’s like furnishing your home. You get this jewel, which… enhances it in ways that make it a more livable space for you.”
This blend of rationality and emotional resonance is what defines Spier’s approach. “You really give up a lot by trying to find cheap businesses… The best businesses in the world are… a hundred thousand times better,” he said. His portfolio reflects timelessness over trend, quality over quantity.
Yet the most striking part of the conversation came when Spier discussed honesty and growth. Reflecting on his career missteps and personal health challenges, he emphasized the value of truth: “Tell the truth publicly… That was the beginning of a big adventure for me.” He compared the discomfort of honest self-reflection to climbing a mountain. He said, “The treasures that you’re discovering are your own and only your own.” Whether speaking of friendships, health, or investing, Spier made one thing clear: authenticity matters more than returns.
While a lot of investors are more interested in quarterly performance and financial alpha, Guy Spier reminds us that the most important compounder in life might just be character. “So if given the choice between authenticity to myself and trying to be the best possible manager of a fund, it’s a clear winner. You of course, you have to be authentic to yourself. That’s the only thing you have to be.”
You can watch the entire interview here:
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