My Worst Investment Ever Podcast
Business:Investing
BIO: Jeremy Kokemor founded Right Tail Capital: a concentrated, fundamental equity investment firm based in Richmond, Virginia.
STORY: Jeremy was an intern in an investment management firm where he got to cover small-cap metal miners. He was new to this industry and made several mistakes.
LEARNING: Figure out your investment style. Be careful of overconfidence and overestimation bias when looking at stocks to invest in. Be willing to change your mind when the circumstances call for it.
“Figure out if there’s a certain type or style of investing that really appeals to you.”Jeremy Kokemor
Guest profile
Jeremy Kokemor founded Right Tail Capital: a concentrated, fundamental equity investment firm based in Richmond, Virginia. Jeremy loves helping people with their investments through owning high-quality, under-valued companies for the long term. Jeremy grew up in New Orleans, Louisiana, prior to attending the University of Virginia. After working in investment banking and investment management, Jeremy graduated from Harvard Business School. He then worked with several fantastic investors at global mutual fund company T. Rowe Price before managing concentrated portfolios at Private Advisors and Thompson, Siegel & Walmsley.
Worst investment everJeremy had the great opportunity to work for T. Rowe Price after the financial crisis. He covered a portion of the technology sector for his internship and really enjoyed it. Later, when Jeremy was asked if there were any industries he did not want to cover, he said no because he liked learning about many different businesses. That’s how Jeremy found himself covering small-cap metals miners.
Jeremy was utterly new to this industry and often made mistakes investing in this industry. Some of the mistakes include investing in a small hometown Canadian company that announced they were making a significant acquisition of a copper project in Peru. The company had never done anything before in South America.
Another one was an investment in a gold mining company that, when they began production, their operating costs were just through the roof and dramatically higher than they had ever envisioned. Jeremy should have realized that the estimates they were publishing were based on the lowest degree of confidence of a feasibility study.
Lessons learnedIf you’re a student, start building your investing acumen, even with just a little money. Make some of those mistakes and learn while at it. It’ll really pay great dividends over the long run.
Jeremy’s recommendationsJeremy recommends reading a lot to improve your investment skills. Some of his favorite reads include You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profit and books by Warren Buffett and Charlie Munger.
No.1 goal for the next 12 monthsJeremy’s number one goal for the next 12 months is to continue to learn new businesses and industries and increase his investment performance.
Parting words“Keep learning and trying to get a little bit better.”Jeremy Kokemor
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Connect with Jeremy Kokemor
David Kass – Don’t Invest in a Company Unless the CEO Owns a Large Stake
Christopher Panagiotu – Go With Your Gut, but Verify
ISMS 29: Larry Swedroe – The Shiny Apple is Poisonous and Information is Not Knowledge
ISMS 28: Stocks for the Long Run
Folarin Daniel Adeboye – Business and Friendship Can Never Mix
Dana Anspach – Loving a Product Is Different From Running a Business
ISMS 27: Larry Swedroe – Familiar Doesn’t Make It Safe and You’re Not Playing With the House’s Money
Manisha Thakor – Invest in Your Financial Health and Emotional Wealth
Richard Smith – Anything Valuable Is Hard
David Perry – Bet on the Person, Not the Idea
Tom Wall – If You Make Some Money, at Least Take Half off the Table
Rick Warner – Be Careful When Investing in Banks
Mohit Tater – You Don’t Know What You’re Getting Into Until You Are in It
Vorathep Srikuruwal – Walk That Property Before You Buy It
Phil Bak – Be Slow to Jump Onto Bandwagons
Jack Schwager – Never Stay in a Position That Violates What You Believe In
Sampark Sachdeva – Don’t Be Afraid to Take the Plunge
ISMS 26: Larry Swedroe – Are You Subject to the Endowment Effect or the Hot Streak Fallacy?
Vishal Bhardwaj – Do Not Let Emotions Run Your Business for You
Harjeet Khanduja – Work Smarter Not Harder
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