In this exclusive interview, we speak with Giovanni Tamburi, founder and CEO of Tamburi Investment Partners (TIP), considered by many to be the Italian Warren Buffett.
During the event organized by Banca Patrimoni Sella, Dr. Tamburi addresses crucial issues for the future of the European and Italian economies:
excessive regulation and bureaucracy that are holding back businesses
the gap between Europe and the United States in terms of growth and competitiveness
the role of young people and their attitudes toward work and investment
the undervaluation of Italian small and mid-caps on the stock...
2:17My question is: what is, in your opinion, the problem of Europe right now?
5:51... that you know how to do stock picking and the companies you select are companies that not only have an excellent balance sheet, but have excellent passion, an excellent story, and an excellent ability to know how to do business?
Europe has slowed down a bit because we talk too much. Twelve thousand laws since von der Leyen became president are absurd; they are a huge constraint on the system for all businesses. Can we continue to have fierce regulation for Italian companies when Americans don't have it, Chinese don't have it, all of Asia doesn't even know what it is? Unfortunately, through demagoguery, ideologies, and so on, we are holding back the development of Italian companies and it will be impossible to reach any system similar to the American or Asian one.
Hello everyone, we are here with Dr. Tamburi, founder and CEO of Tamburi Investment Partners, one of the largest, actually the largest Italian investor, the Italian Warren Buffett you might call him, and today we are here at an event organized by Banca Patrimoni Sella to ask him questions about young people, about investments, and also about Italy. The first question is about young people. We are the fast food generation, a generation that tends to look for easy ways to make money, easy ways to obtain frivolous pleasure, and does not have the ability to make the same sacrifices as in the past. What advice do you give to young people? I once heard you say in a podcast that young people should have more patience. What is your advice for young people?
Well, first of all, you have the ability because you are good, smart, informed, and so on. Unfortunately, very often you limit yourselves to reading headlines, thinking you have understood everything when you read the strong message that the media give, even newspapers, because you do read newspapers, but other types of media. The real advice is to go deeper, to study, to do things seriously, thoughtfully, and very carefully evaluated, also because many of you, despite having the ability, waste it by wanting to make easy money, wanting to do things quickly, as if with a snap of your fingers you start a startup, earn too much with Bitcoin, etc. I think that today is a very interesting time to do things well. First, do things and don't settle. Second, do them well and that means studying, delving, analyzing all the various topics. Whatever interests you most, you have to get to the bottom of it.
Thank you very much for the advice. It may seem like superficial advice, but in truth it's what most people simply don't do, so it's important, I think, to also listen to this advice. Another question that comes to mind is that nowadays, from 2000 to today, there has been a real gap between the growth of Europe and that of America. European GDP has remained almost stagnant, while American GDP has exploded, but it has exploded thanks to a few sectors that have driven the entire market. My question is: what is, in your opinion, the problem of Europe right now? Is it a problem of competitiveness, fiscal inefficiency, labor cost, etc., to understand how to close the gap, given that you are an experienced investor in Italian matters.
4 more exchanges in this transcript
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