We Study Billionaires - The Investors Podcast

In this episode, William Green chats with Harold J. (“Jay”) Bowen III, President & CIO of Bowen, Hanes & Company. Jay & his late father generated dazzling returns for their biggest client, the Tampa Firefighters’ & Police Officers’ Pension Fund. The fund’s stock portfolio has achieved an annualized return of 14.4% over 50 years & a cumulative return of more than 81,000%. Here, Jay explains how they pulled this off, sharing one of the great untold stories of the investment world.  IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 08:37 - What makes the Tampa Firefighters’ & Police Officers’ Pension Fund special. 17:54 - How Jay Bowen’s father came to run the fund half a century ago. 29:09 - How to thrive by slashing fees, shunning consultants, & thinking long term. 38:54 - Why Jay takes a top-down thematic investment approach. 43:03 - How the fund made a fortune buying Coca-Cola before Buffett. 47:15 - Why it pays to bet on extraordinary CEOs. 51:09 - Why truly long-term investors shouldn’t bother with bonds. 1:05: