Tom Russo

Tom Russo

Last Update: 2014-08-13

Number of Stocks: 112
Number of New Stocks: 3

Total Value: $10,823 Mil
Q/Q Turnover: 0%

Details: Top Buys | Top Sales | Top Holdings  Embed:

Tom Russo Watch

  • Tom Russo on Why Investors Should Not "China Cleanse" Their Portfolios

  • Tom Russo - Investors Should Not China Cleanse Their Portfolios

    There is a great deal of fear around the near and mid term future of China.

    Word is that China has the biggest property bubble in the history of the world, and we know how our property bubble in the Western world ended last decade.


  • 'Extreme Patience' One Month at a Time

    After a period of steadily rising markets, we’ve reached a bit of a standstill (or at least what can be described as a standstill by comparison to the market's strong results in 2013). Presently, there doesn’t seem to be much to do for the investor: With limited new investments to be found (or in my experience, at least compared to the relative ease in 2011), patience is the order of the day.

    But for some, patience is unfathomable: They are all action, all the time. They can’t imagine a week without buying or selling their partial ownership interest in a handful of companies, let alone a month or two. A recent article in the Wall Street Journal captured this obsession with activity – for activity’s sake – perfectly: “Like Mr. Klarman, [David] Abrams is known to be patient to the extreme. He will sit on a static portfolio for months without making a move.” It’s pretty amazing that sitting for a few months without buying or selling is considered extreme…


  • Break Up Berkshire Hathaway? Tom Russo Doesn't Think So

  • Morgan Stanley Global Franchise Fund's Top Five

    Late last week the MS Global Franchise Fund released their third quarter portfolio. Their most recent portfolio update highlighted 29 stocks, with three of them being new buys occurring in the third quarter. The fund’s third quarter portfolio is valued at $592 million and displays a Q/Q turnover of 9%.

    The following five companies represent the five largest positions amongst MS Global Franchise Fund’s third quarter portfolio.  

  • The Real Definition of Intrinsic Value

    I may be naïve in saying this, but the world of investing baffles me; actually, let me rephrase that – the way that the vast majority of people approach the world of investing baffles me.

    One prominent example, and the focus of this article, is intrinsic value. Value investors are intimately familiar with intrinsic value, much like a group of worshipers reciting the Lord’s Prayer. I’ll use the definition from “The Little Book of Valuation”:  

  • Thomas Russo - In Investing, "Then What?" Is a Very Good Question

    Business Outlook India interviews successful value investor Thomas Russo:

    An influential event in his life was Warren Buffett’s visit to Professor Jack McDonald’s class in 1984 at Stanford Business School. What struck him about Buffett was that he came across as a person who spent most of his time thinking about things that made sense to him, unlike things they taught at Stanford, which didn’t make any sense to him. For someone who started off as a bond analyst and later became an analyst with the Sequoia Fund, Thomas A Russohas really come a long way to make his mark as a value investor. He manages over $6 billion through separately managed accounts and the flagship Semper Vic Partners Fund. Russo has delivered a net annualised return of 12.61% since inception against 8.48% for the S&P 500. The 58-year-old attributes a large part of his success to Warren Buffett’s investment philosophy that propounds the importance of focusing on what you know and stretching your investing horizon to allow companies to compound value. Not surprisingly, a large part of his portfolio comprises foods, spirits and consumer companies that he believes have global brands, extensive reinvestment opportunities and the potential to keep growing.  

  • Tom Russo Interview with GuruFocus at the 10th Annual Value Investor Conference

    This interview took place on May 2, before Tom Russo gave his presentation to the 10th Annual Value Investor Conference in Omaha. Russo is a partner at Gardner Russo & Gardner, a firm with over $5 billion under management. He was previously at the Sequoia Fund, and has degrees from Dartmouth and Stanford. Last year, his partnership returned 22%.

    Holly LaFon: Every time your portfolio comes out, I want to know if you bought a new stock, and every time the answer is no, you haven’t bought anything new.  

  • Tom Russo's Presentation - 2013 Ben Graham Value Investing Conference

  • Value Investor Tom Russo Buys More Philip Morris International, Nestle, Wells Fargo, Berkshire Hathaway

    Renowned value investor Tom Russo made most of his money by investing in companies that produce food, drinks, cigarettes, as well as Berkshire Hathaway. He loves high-quality companies with family-oriented management. Over the past five years, his fund Semper Vic Partners averaged 6.8% a year, while the S&P500 gained just 1.5% a year.

    Though a value investor, Tom Russo loves growth. He prefers to pay 50 cents on a dollar that grows. To understand more about how he invests, read Transcript of Tom Russo’s Talk at Value Investor Conference.   

  • 75-Minute Interview with Value Investor Tom Russo

    Thomas A. Russo has been a partner at Gardner Russo & Gardner since 1989. The firm has over $5 billion under management, and he oversees $4 billion as general partner of Semper Vic Partners limited partnerships, as well as in individually managed accounts. Prior to joining Gardner Russo & Gardner, Russo was at the Sequoia Fund. Russo is a graduate of Dartmouth and has an MBA and JD from Stanford.


  • Value Investor Tom Russo Sees Opportunity in Tobacco

    Warren Buffett has avoided direct investments in the cigarette industry because he is not comfortable with the product. Tom Russo however owns shares in Philip Morris International (PM), British American Tobacco (BTI) and Altria (MO). Why does he own them?

    - These tobacco companies are taking the cash flow from developed markets and using it to grow demand in the developing markets which are having population growth.  

  • Tom Russo Buys More Berkshire, Wells Fargo, Nestle and MasterCard

    Tom Russo, a partner at Gardner Russo & Gardner, made additions to several of his positions in the third quarter. The investor has said previously that he buys only the largest holdings in the company’s $6.2 billion equity portfolio. Therefore, he increased the size of his positions: Berkshire Hathaway (BRK.B), Wells Fargo & Co. (WFC), Nestle SA (NSRGY) and MasterCard Inc. (MA).

    The companies most appealing to Russo currently are those in Europe that have emerging market growth, invest sacrificially in growth at the expense of short-term performance and have valuations that fit his definition of “50-cent dollars.” Extremely long-term investing periods also characterize his portfolio.  

  • Tom Russo on Finding Value in Europe

    Listen to well-known value investor Tom Russo on his quest to find value in European stock. Listen to what he thinks about European companies and how he goes about finding value in the continent as it goes through to its own economic turmoil. Russo has invested in Europe for long time.

    -- Europe is a good cover for us as everyone fears Europe.  

  • Tom Russo on Europe

  • Tom Russo Buys More Heineken, Berkshire, Nestle, Pernod

    Tom Russo, portfolio manager at Gardner Russo & Gardner, oversees roughly $5 billion and has a unique investing strategy. He buys stocks for an exceptionally long hold period, often decades. His favorite sectors are alcohol, tobacco and global luxury and consumer goods companies with plenty of emerging market growth. A company’s ability to reinvest also signals future profitability for him.

    The smaller stocks in Russo’s portfolio belong to his partners. Only the new additions to the largest holdings are his. In the second quarter, the largest new adds he made are: Heineken Holding NV (HKHHF), Berkshire Hathaway (BRK.A), Nestle Sa Reg (NSRGY) and Pernod Ricard (PDRDF).  

  • Tom Russo’s Favorite Stocks with Emerging Market Growth

    Tom Russo, partner at Gardner Russo & Gardner overseeing $5 billion, has an investing strategy that bypasses all of the turmoil in the U.S. and abroad: looking for companies that have superior brands, long-term growth objectives and operations in emerging markets where their products are becoming affordable. He interviewed in Barron’s this weekend and talked about his favorite stocks. Three of them are Nestle (NSRGY), Diageo (DEO) and MasterCard (MA).

    Nestle (NSRGY)  

  • Tom Russo Discusses His Investment Strategy in Europe

    Value investing guru Tom Russo of hedge fund Gardner Russo and Gardner was on CNBC Fast Money to discuss his portfolio, which is full of European stocks, and where he is seeing opportunity in Europe amid all the turmoil.

    He thinks all the current turmoil in Europe is providing a terrific opportunity to invest at give-away prices into valuable branded companies based in Europe. He specifically likes the companies which are Europe-based but have global brands with an increasing part of their sales coming from developing markets which are expected to grow for a long time, e.g., Nestle (NSRGY).  

  • Tom Russo Says Europe Is on Sale

    Tom Russo, partner at Gardner, Russo & Gardner, is the master of slow money. He first purchased Berkshire Hathaway (BRK.A) stock in 1983 and still holds the stock. Russo also took a position in Nestle (NSRGY), still a favorite investment of his, in 1988.

    As followers of esteemed value investors know, the time to put cash to work is when uncertainty looms large. Currently many European economies are weak and uncertainty has gripped the European banking sector. How will the European scenario play out? No one really knows.  

  • Investing Advice from Best of Best Value Investors

    This video is a collection of various interviews from the world's best investment advice from the best of the best value investors, from Warren Buffett to Tom Russo.

    Here is the video:  

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