[October 2023] What do you get when you combine values-centered leadership with a long-term view of investing? In Tom Gayner’s case, you get an incredible recipe for success! As CEO of Markel Group, Tom helped grow the company over three decades from a relatively small insurance company into the diversified global conglomerate it is today. No wonder Markel Group is often called a "Baby Berkshire." In this conversation, Tom shares his career journey from teenage investor to CEO and how he dealt with various challenges along that path. He’ll talk about how the Markel Style crafted in 1986 has been so critical to their success and continues to serve as the organization’s north star today. Key to that success, Tom shares Markel’s four criteria they use to make investment decisions, including how to define a fair price on a deal. He also talks about his view on the pendulum of investment optimization versus satisfaction. And if you ever wondered how the low interest rates of the past decade encouraged risky decisions, you won’t want to miss Tom’s insightful analogy of interest rates as a form of curfew. So enjoy this episode and get to bed at a reasonable hour!
About Tom Gayner
Thomas “Tom” Gayner has served as Chief Executive Officer of Markel Group since the start of 2023 and was co-Chief Executive Officer prior to that since 2016.
Markel Group is a holding company with operations in insurance, services, industrial operations. Markel Group is listed on the Fortune 500 and is headquartered in Richmond, Virginia, with more than 70 offices in 16 countries.
Tom joined Markel Group in 1990 and oversees all investing activities. He is also responsible for Markel Ventures, a wholly owned subsidiary which acquires controlling interests in manufacturing, technology, and service companies.
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