This conversation is part of our “Wisdom in Books” series and podcast.
In this interview, Richard Lawrence shares key insights from his book, The Model: 37 Years Investing in Asian Equities. As founder of Overlook Investments, Richard offers an exploration of value investing within the dynamic and often misunderstood Asian markets. Overlook’s impressive track record — compounding investor capital at more than 14% annually over 30 years — frames Richard’s reflections, which cover everything from handling crises to engaging constructively with corporate management.
Richard emphasizes the role of disciplined investment practices, the significance of dividends over buybacks, and the art of quietly effective activism in improving corporate governance. His detailed anecdotes from the Asian Financial Crisis of 1997-98 reveal how enduring such periods provides invaluable lessons, not only about risk management but also about seizing long-term opportunities when others flee the market.
The conversation also explores the evolution of Overlook’s business model, including its self-imposed limits on capital growth and a succession structure designed to ensure long-term stability. Long term-oriented investors will find Richard’s approach to ESG particularly intriguing, as he integrates environmental and governance factors deeply into his investment thesis, focusing on genuine impact rather than mere box-ticking.
Insights you’ll gain in this conversation:
The Origins of "The Model"
Lessons from Investing through Asian Crises
The Importance of Long-Term Capital and Discipline
Effective Corporate Engagement and Quiet Activism
Preference for Dividends over Share Buybacks
Building Sustainable Investment Structures
Navigating Cultural Differences in Asian Markets
The Role of ESG in Long-Term Investing
Climate Change and Investment Implications
Ensuring Effective Succession and Longevity at Overlook
Enjoy the conversation!
