10: My chat with a Great Dane – Bo Knudsen - CEO of C Worldwide Asset Management

Money Maze Podcast

Business, Investing, Management, News, Business News

4.8 • 216 Ratings

🗓️ 4 August 2020

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this Money Maze Podcast edition, we travel north east from the UK, beyond Norwich, and further than Hamburg, to a country of less than 6mm people, a country which has the oldest national flag, dating from 1219, and is consistently reported as having the world’s happiest people. Home to Lego and with some of the nicest people in the world, it’s Denmark of course.

The guest on this podcast is a veritable Viking of the investment management industry, Bo Almar Knudsen, CEO of C Worldwide, formerly known as Carnegie.

Bo starts by describing a little of it how it feels to be Danish, and of the respect and trust Danes have for their institutions. He speaks of their intrigue with travel beyond their borders which has been demonstrated with Danes travelling and settling around the world over the centuries, and in some ways mirrored in the global portfolio C Worldwide has managed for 30 years.

Bo describes his decision to study in San Francisco as well as Denmark, then starting out at Danske Bank before beginning his own journey at Carnegie Asset Management in 1995. Today, his firm manage nearly $20 billion, and have achieved world class investment returns in their core equity portfolio which has made 60x an investor’s initial investment, outperforming the world equity index by 10 times!

Bo details their investment approach, the very long term perspective they adopt, and speaks about the challenge of building a culture that encourages open dialogue and recognition of mistakes, but also of avoiding complacency and being patient.

He makes an unusual point that the investment industry is one of the great time-wasters, whilst at the same time the challenge is to gain “lasting knowledge” and not be distracted by daily noise.

Finally, as one of Denmark’s top veteran tennis players, he shares life lessons he has learnt from studying Roger Federer, why his favourite book is Sapiens by Harari, and his favourite band unexpectedly, is Depeche Mode. So - back to the 80s!

Transcript

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0:00.0	Welcome to the Money Maze podcast. I'm Simon Brewer, and we've created this show to explore and unravel some of the mysteries surrounding the investment business.
0:19.3	And we hope through direct and insightful interviews with
0:22.3	masters of the real-life money maze, we're going to learn about different approaches to
0:27.5	allocating capital, making investment and business decisions, and navigating the pitfalls that line
0:34.2	the paths to prosperity. Whether you're a current or aspiring investor or a student
0:39.3	exploring career options, we hope you gain some helpful insights and enjoy the shows. Thank you for
0:45.6	listening. Today we've gone northeast, beyond Norwich and further than Hamburg, to a country of
0:53.8	less than six million people, a country
0:56.1	which has the oldest national flag dating from 1219 and is consistently reported as having
1:02.2	the world's happiest people, perhaps because you're never more than 50 kilometres from
1:06.1	the sea. It borders Germany but also owns Greenland, is home to Lego and has some of the nicest people in the world.
1:14.0	It's Denmark, of course.
1:15.7	And today I have with me not so much a titan of the investment management industry of Denmark, but a Viking.
1:22.7	Bo, Alma, Knudsen, CEO of Sea Worldwide.
1:27.1	And magd varm velcompsed welcomes and to this tag on this podcast.
1:32.5	Welcome, Bo.
1:33.9	Thank you, Simon.
1:35.3	I got it.
1:37.0	Well, that's more than some.
1:38.5	I was very precise.
1:40.1	I appreciate the conversation.
1:41.6	Thank you for inviting me.
	...

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