About this episode

David Samra discusses his successful investment strategies and insights on value investing.

David Samra has been in the investment business for over 30years. He specialises in international value and has beaten his index by over 4% pa for over 20 years, in a period when traditional value has been doing poorly. That may be why his fund, which has been closed to new investors for most of the last 14 years, has reached $50bn. In this conversation, David explains his focus on four factors: owning good companies, buying them at a discount of at least 30% to intrinsic value, and ensuring they have excellent management and a strong balance sheet. And he discusses several of his stocks, sharing some impressively detailed knowledge. Behind the Balance Sheet is a forensic accounting and fundamental investing podcast for serious investors. Each episode dives into how real‑world investors source ideas, build conviction and manage their portfolios. You’ll hear frameworks for analysing industries, understanding business models, and thinking about risk, behaviour and incentives, so you can refine your own process rather than copy stock tips.For show notes, transcripts and additional resources, visit our ⁠⁠website⁠⁠ . If you value thoughtful, process-driven investing discussions…

People in this episode

Host: Stephen Clapham

Guest: David Samra

Topics covered

• value investing
• investment strategies
• financial analysis
• portfolio management
• international markets

Keywords

• investment
• alpha
• value investing
• financial management
• stock analysis
• portfolio
• equities

Mentioned in this episode

Organizations: Behind the Balance Sheet, Spotify, Apple Podcasts

More episodes of Behind the Balance Sheet

• #58 The Chart Guy - $4tn CIO Michael Cembalest on markets, AI and the impending rout in US Treasuries · April 16, 2026 · 56 min
• #57 The Behavioural Scientist - Rory Sutherland on Marketing, What Analysts Miss and Behavioural Economics · March 22, 2026 · 1h 49m
• #56 The Sculptor - Jonathan Tepper on 16 Stock Portfolios, Moats & Buying Oligopolies · March 13, 2026 · 1h 3m
• #55 The Pugilist - Terry Smith on Quality, Valuation & Long‑Term Compounding · March 13, 2026 · 1h 25m
• #54 The Innovation Fans - James Anderson & Morgan Samet on Finding the Next Ten‑Baggers · December 17, 2025 · 49 min
• #53 The Plodder - Tom Gayner on Building Markel and the Art of Long‑Term Compounding · November 19, 2025 · 1h 17m

Explore listener stats, chart rankings, contacts and more on the Behind the Balance Sheet podcast page.