Finalizing Valuation Framework w/ Dev Kantesaria (TIP389)

On today’s episode I sit down with Dev Kantesaria. Dev is the Managing Partner of Valley Forge Capital Management, which currently has $2.7 B in assets. Dev holds an undergrad from MIT and was top of his class at Harvard Medical School before pivoting and going into venture instead of medicine.
IN THIS EPISODE, YOU'LL LEARN:
00:00 - Intro
04:06 - First Time Dev to Discover Warren Buffet and Charlie Munger Investing Philosophies
03:38 - Does Dev Kantesaria Use Stock Screeners in Distilling the Universe of Stocks
08:45 - How Much Leg Work Is Done Before Picking a Stock
09:35 - Hedge Fund Structure Set Up of Dev Kantesaria
11:28 - Cash Allocation Strategy
12:59 - How to Invest Through Recessions
14:56 - Why Dev no longer invests in Biotech, after he spent 18 years in Biotech Ventures?
17:58 - Dev Kantesaria’s circle of competence
20:07 - Why Dev Kantesaria Is Shying Away From Faang Stocks?
22:38 - What Discount Rates/Hurdle Rate Is Dev Kantesaria Is Using?
25:16 - Dev Kantesaria’s Outlook for the Next 10 Years?
27:02 - What Does “Pressure on Employment” Mean
28:12 - What Is the Largest Holding in Dev Kantesaria’s Portfolio Which He Has the Most Conviction In?
33:11 - Biggest Learnings From Losers in Their Portfolio
37:18 - Have They Ever Used Activism Style Approach
39:54 - Is It Harder to Keep the Portfolio Concentrated as They Scale?
41:19 - Approach in Selling
43:14 - Possible Reason to Go In to a Leap
45:29 - Framework in Finalizing Valuation
48:32 - Books and Resources Dev Kantesaria Would Recommend for You to Read
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[@thorsten8123]

Highly appreciated that you "pivoted" back to your roots, you "We Study Billionaires". I mean: THIS was basic, core like stuff and funnily enough, I missed that the last months. It motivated me to reconsider my portfolio. Thank you for the input, that was a great conversation!!

[@hurricanejain4919]

This was a good one, I don't listen to these as much since it seems like stuff as deviated away from value investing

[@Xyz19781i]

talk about profiles ...lol wow.