S2:E17 Bogumil Baranowski – Outsmarting the Crowd

Outsmarting the Crowd


Author Background:

Bogumil Baranowski is a New York City-based value investor, author, and investment professional with over a decade of experience. He works at Tocqueville Asset Management, where he is the founder and portfolio manager of a private investment fund. He was born in Poland, educated in Paris and Brussels. He enjoys making a difference in people’s lives through writing and teaching. He is the author of Outsmarting the Crowd: A Value Investor’s Guide to Starting, Building, and Keeping a Family Fortune.

Bogumil’s Book Recommendation:

The Indomitable Investor












Audio Podcast:

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Five Good Questions:

  1.  I loved that you stressed the importance of saving.  I repeatedly tell clients that saving is the most important part, and if they do that correctly, they don’t really need me on the investment front.  When you think about the path to wealth, it goes Earn, Save, Invest.  Most of us can’t control how much we earn day to day, or our investment returns.  Yet we all can control how much we save.  Why does the world seem preoccupied with earning and investing and ignores saving? 
  2. You’re a fan of averaging down slowly, perhaps buying 1% bites at a time of an individual business.  Is that difficult to do when it seems like good companies (which I know you’re a fan of) always seem to be trading at their 52-week high?  Solutions, other than just extreme patience?
  3. When public school and teaching to standards testing seem to crush the creativity and joy of learning from many, how does one properly go about learning things for one’s self?  What are some keys you’ve found to successful self-learning.
  4. You rightly advise not to check stock quotes too often.  What about if you’re a professional investor?  How often do you check your portfolio and watch list?  Be honest.  🙂
  5. Your book covers how to start, build, and keep a family fortune.  I’d like to know about how we can keep a family fortune please?

With gratitude,

JLT Signature




Author’s Disclaimer: Working for and as an investment adviser, I am aware of the regulatory expectations and requirements of disclosure. Thus, you need to know that this book reflects the views of the author as of the date or dates cited (or publication) and may change at any time. In addition, the opinions expressed in this book are solely those of the author. No representation is made concerning the accuracy of cited data, nor is there any guarantee that any projection, forecast or opinion will be realized. Furthermore, this book should not be construed as investment advice. References to stocks, securities or investments should not be considered recommendations to buy or sell. Past performance is not a guide to future performance. Securities that are referenced may be held in my personal portfolio or portfolios managed by my employers, its principals, employees or associates, and such references should not be deemed as an understanding of any future position, buying or selling, that may be taken.

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