Investing by the Books Podcast
840 posts

Investing by the Books Podcast
@IB_Redeye
Welcoming masterminds to discuss books to think, invest & live better. Concept: @Investbythebook & @Redeye_ Host: @edisonpalmgren, prev. @NiklasSavas
















Henry Ellenbogen has, very quietly, become one of the most influential investors of this millennium. His early teachers included Jeff Bezos and John Malone. His early bets included Amazon at $10 billion, Booking Holdings below $1 billion, and Google at IPO. He managed his first fund through the financial crisis. For 5 years, he outperformed by more than 10% a year. In 2010, Ellenbogen took over the largest pool of small-cap money in America, built it to $40 billion, and beat his peers by more than 5% a year. While managing that fund, he pioneered a way to invest mutual fund capital into private businesses. He backed Workday, Atlassian, Twitter, and dozens more. By 2019, he'd invested in the private rounds of more successful IPOs than any venture capital firm. His strategy is simple: invest in small companies that can grow into large ones. He finds these businesses early, but his edge comes when they fall apart. Every exceptional company passes through at least one moment that looks identical to failure. Ellenbogen separates the ones dying from the ones being remade. In 2019, he left to start Durable Capital Partners, raising $6 billion in one of the largest fund launches on record. His ability to spot young businesses, hold them as they grow, and help them become giants, has made him a go-to investor for founders who want to take their startups public. He has invested in over 50 businesses that have gone public, yet he keeps a low profile. To understand why, you have to go back to a funeral in Pittsburgh when he was twelve years old. This is the story of Henry Ellenbogen, told in full for the first time by @domcooke.













