At 74, Larry Sarbit is no stranger to speaking in front of thousands of people, seeking investment advice. The only difference now is he communicates with a microphone in his home office, immersing his wisdom into a new Podcast, available on Spotify and other streaming media outlets such as Apple Podcasts, Amazon Music, etc.
Larry has a national reputation as one of Canada’s top portfolio managers who follows a “Value” approach to investing in US stocks.
Joining him on the podcast is Darren Coleman, a very successful financial advisor in Canada whose clientele stretch across the country and the USA.
We engaged in a conversation exploring this change in disseminating his expertise and keeping up with the times.
Q: So Larry, why are you doing this now that you semi-retired? What wet your whistle?
Larry: “If you’ve been a portfolio manager for decades focusing on Value Investing, it’s very hard to turn it off. I thrive watching the markets and miss having my own funds. But I can still share the fundamentals of “Value” investing with those who still “get it” and to all the new generation who are just getting their feet wet.”
Q: “How did you get started on this podcast forum?”
Larry: “My old friend, Darren Coleman, from Portage Wealth Management, and I were talking. (I stay in touch with many of those who invested in my former funds.) He suggested the podcast might be relevant in this day and age, where this platform is popular and very available. So, we have a great relationship, and we discuss a variety of topics. We exchange our opinions, giving our take on what we’re observing in trends today and what has worked for each of us.”
Q: “Is it as exciting as talking to a live audience?”
Larry: “It’s quite different. I wouldn’t say it’s less exciting but it’s more intimate. Darren and I aren’t even in the same province, but that doesn’t matter. The discussion is in depth, and our observations allow an audience to glean information from two fellas who eat, sleep and breathe the stock market. We aren’t spring chickens and have ridden the numerous roller coaster rides the markets have thrown at us over the decades. It’s good to reflect on how we managed during extremely turbulent times, when there were high levels of fear in any particular market. No one could predict how long it would last. Some lost their shirts. Investing safely has always been the road we strive to travel on.”
Q: “What has been the feedback on the various podcasts?”
Larry: “Good thus far. Podcasts can be very competitive but each have a genre. In the business world, I believe we are one of the few talking about “Value” investing and so it’s relevant that we stand out. I think you learn a lot by listening to older participants who have been there, done that. As we build traction it gets more exciting. Look at Warren Buffett; he’s 95 and you can bet he’s watching world events, politics, tariffs and the impact on stocks.”
Q: The world economy has never experienced this much discourse. How to you stay cool and calm?”
Larry: “Value” investing looks for businesses that last for the long-term. Look at Coca Cola – it’s not going anywhere. We are always looking for good companies that are very predictable. They display durability over time.”
Q: What do you still see that has existed over the decades of your career?”
Larry: “Same old, same old! There are those who listen to the noise of the market and then there are those of us who are committed to the principles of “Value” and do not stray from its internal methodology.”
Q: What message do you like to convey to your listening audience?”
Larry: “The analogy was expressed very well by Warren Buffett and Charlie Munger: Darren and I invest as if you have a punch card with only 20 punches (or investments) available to invest in for a lifetime. In that scenario, you are going to be very careful in where you commit your money as there are only 20 punches. So, be very careful and select stocks which meet the strict criteria of “Value” investing.
Q: “Thanks Larry. We wish you and Darren well with the podcasts as it picks up traction.”
Larry: “That’s the plan! We are expanding the podcasts to gain leverage in this arena. There is a demand.”
Appreciate the support.”
To listen this to Simply Sarbit: ttps://simplysarbit.transistor.fm/
