The True Nature of Compounders, and Why Patience Is an Investor's Greatest Asset

Wisdom in Books

0:00

-59:47

The True Nature of Compounders, and Why Patience Is an Investor's Greatest Asset

Interview with Laurence Endersen on "The Compounder's Element"

MOI Global Equity Research

Jun 25, 2025

This conversation is part of our “Wisdom in Books” series and podcast.

We are pleased to share this conversation between John Mihaljevic and MOI Global member Laurence Endersen, highlighting key insights from the book, The Compounder’s Element: A Patient Path to Prosperity.

Drawing on his deep understanding of long-term investing, Laurence delves into the essential qualities that distinguish truly exceptional compounders from merely good companies. Throughout the conversation, he emphasizes the importance of patience, disciplined capital allocation, and the relentless pursuit of durable competitive advantages — attributes he identifies as foundational for sustained wealth creation.

Listeners will particularly appreciate Laurence’s nuanced discussion on how investors can effectively identify these exceptional compounders early in their lifecycle and hold them for extended periods, reaping exponential returns over decades rather than quarters. He underscores why typical investment behaviors — such as chasing short-term gains or timing market fluctuations — can undermine long-term portfolio performance, advocating instead for a strategic approach rooted in conviction and patience.

Additionally, Laurence addresses common misconceptions about compounding and provides examples of companies that exemplify these qualities. Experienced investors seeking to refine their approach to selecting enduring winners will find Laurence’s insights illuminating and actionable.

Insights you’ll gain in this conversation:

Understanding the True Nature of Compounders
Why Patience Is an Investor’s Greatest Asset
Identifying Durable Competitive Advantages
The Pitfalls of Short-termism in Investing
Real-world Examples of Exceptional Compounders
Building a Portfolio for Multi-decade Success

Enjoy the conversation!

This installment of MOI’s Meet-the-Author Forum was recorded in 2025.

Laurence Endersen originally studied law as a pathway to practicing taxation while also training as a chartered accountant. A move to Sydney, Australia in 1994 facilitated a career change to corporate advisory and project finance, before returning to Ireland in 1998 where he subsequently held a series of investment management roles across venture capital, structured securities, leveraged loans and listed equities. Laurence founded a private investment firm in 2015. He currently lives with his family in Dublin. Laurence has published two other books, Pebbles of Perception: How a Few Good Choices Make all the Difference and What Owen Didn’t Know: A Philosophical Fable.

Featured Events