05 - Chris Mayer - A Trade of the Decade

Welcome to the fifth episode of the Bonner Private Research Podcast. I'm joined by Chris Mayer, Portfolio Manager of Woodlock House Family Capital fund and co-founder of the firm along with Bill Bonner. In this episode, we talk about what he looks for when distilling a trade of the decade, from big macro ideas down to sharp investible ones. We also touch on the mechanics of the trait itself, where he thinks we are in regards to the current credit cycle, and the inherent optimism involved in taking the long view. All that and more in my conversation with Chris Mayer. Bullet Points 00:50 - The history of gold 07:25 – The guiding principle of the trade of the decade 09:23 - Introducing Chris Mayer 10:25 - Where was Chris in 2000? 12:00 - Approaching a trade of the decade 15:10 - Studying the track records of the great investors 21:00 - The average hold time for a 100-bagger 22:03 - A look back over the past decade 26:40 - A look at the UK FTSE100 28:27 - The resource complex 29:40 - Looking at the macro picture 34:02 - Value vs. Growth 36:45 - Different risk profiles for different age cohorts 37:14 - Cryptoassets 41:00 - Investment ideas for a 5-year old 42:56 - Investment ideas for 10 years 43:32 - The trade of the decade: an inherently optimistic thought experiment?