At the Quality-Growth Investor Conference on October 1, 2024, in Westminster, Andrew Brenton, CEO and co-founder of Turtle Creek Asset Management, shared insights into his firm’s investment philosophy. With over $5 billion under management and a remarkable track record of 22% compounded returns since 1998, Brenton emphasized the importance of moving beyond the traditional buy-and-hold strategy.
Buy and Optimize: A Dynamic Approach to Long-Term Investing
Brenton outlined that while Turtle Creek holds companies for extended periods, the firm’s shareholdings fluctuate based on changes in value. He explained that the buy-and-hold approach is inferior to what Turtle Creek practices, which he calls buy and optimize.
In this dynamic strategy, Turtle Creek increases its positions when the value gap widens and decreases...
