Long-Term Compounding w/ Chris Mayer | Constellation Software, Topicus, & Lumine (TIP608)

[@WeStudyBillionaires]

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[@greg7811]

Chris just seems like he's totally content on sharing just about anything, doesn't want or need your business, but does want to help you. Family office guys are my favorite.

[@WeStudyBillionaires]

We agree, he's incredible! Thanks so much for watching. 🙌

[@gmgabrielmoura]

When Chris appears, we watch.

[@WeStudyBillionaires]

Agree! 😎

[@investclubbg]

Chris is a Genius as per usual

[@WeStudyBillionaires]

Thanks for tuning in! 💯

[@WilliamBrown-e3t]

Great interview and investor. Please bring back Chris again and perhaps talk about his other holdings. Can you do a timestamp please? I've listened to this interview all through but sometimes don't have the time to listen to all your podcasts. Being able to focus in on a particular section of the interview about a specific stock or viewpoint would make it much more accessible.

[@Hawking1969]

Mid-50s here....I've never sold a stock or ETF. Served me well.

[@WeStudyBillionaires]

Thanks so much for sharing your experience. Best of luck to you! 🙌

[@brianbirnbaum9760]

Wow so even something that’s down a lot?

[@Hawking1969]

@@brianbirnbaum9760 yes....some are down 70%

[@lisbethsalander1723]

Thanks for sharing. Gives us courage to hold on. How long have you been investing?

[@Hawking1969]

@@lisbethsalander1723 20 years

[@InvestingWithAdamK]

Great interview and couldn’t agree more. I try to stick to under 30 stocks in my portfolio and believe in buy and own. Unless something fundamentally changes in the companies i choose I expect and hope to own then for 20 years. I also do not rebalance if something starts running. If something becomes more than 25% of my total wealth then I’ll consider rebalancing a bit.

[@FoodForestBrad]

Attention is a scarce resource, focus it wisely. Great advice!

[@WeStudyBillionaires]

So true! 💯

[@ElLotdog]

Constellation is starting to feel a lot like Liberty Media, one of the great compounders of the last 50 years

[@davidwilson9976]

Hold onto your winners and trim your losers.

[@WeStudyBillionaires]

Preach! 💰

[@jonl9192]

Losers should only be defined by fundamentals not stock price

[@ElLotdog]

Great interview! Thanks Chris!!!

[@WeStudyBillionaires]

Glad you enjoyed it! 🙌

[@theenglishpaper3448]

Berkshire should give Chris Mayer 2 billion dollars to manage

[@silentnature977]

Thank you very much for creating and uploading this video!

[@WeStudyBillionaires]

Glad it was helpful! 💯

[@Dividendflywheel]

Brilliant simply BRILLIANT Interview. I am taking notes.

[@WeStudyBillionaires]

Awesome! Thank you so much. 💡

[@lunchinvesting]

That was incredible! Thank you for sharing :)

[@WeStudyBillionaires]

Glad you enjoyed it! 🙏

[@HepCatJack]

The difficulty is being to differentiate a serial acquirer from what Peter Lynch called a de-worsifier.

[@Anton-eh6jw]

What did Peter Lynch mean by deworsifier?

[@HepCatJack]

@@Anton-eh6jw It was initially used to describe the over-expansion of a company into new growth projects and businesses that they do not fully understand and which do not align with the company’s core competencies. When Sam Zell purchased troubled companies he tried to repackaged them in a way that there was some synergies between them. In the context of portfolio management, “diworsification” refers to the practice of owning an excessive number of stock positions for the sake of diversification. This can lead to suboptimal investment decisions being made which lower the expected return of the portfolio.

[@HepCatJack]

@@Anton-eh6jw one fictitious example of a deworsifier would be a conglomerate that owns a sugar factory and one that makes airplane parts. There is no synergy between them. Contrast this with the Ford Motor factory which originally vertically integrated owning mines to supply the iron and coal for the steel it needed. Subdiaries to manufacture the rubber and glass needed for their cars, freighters to bring ores from the mines.

[@davorsostaric]

Thank you for episode

[@WeStudyBillionaires]

Thanks for watching! 💡

[@NicE-jq3wv]

Agreed…I would never punish my winners for doing well.

[@youtubeaccount137]

@clay you love copart more than copart

[@ValueHunt1]

❤

[@piedfpiper6965]

terrible. no value added.

[@MrMowww1]

Another home run podcast and I own all three of Mark Leonards companies! I also learn a lot from these podcasts!

[@WeStudyBillionaires]

Awesome! Thanks so much for the support! 🙏

[@every_day_dad_1550]

I think people hear and see chris Mayer and immediately hear and expect 100x because of his book. I'd be more than happy with some 10xs , a couple 5xs, the odd 15x and 20x. Anything more is just gravy. Yes depending on timelines. Ofcourse

[@earlyretirement1459]

The way I think about it is a 15% long term CAGR goal. Or doubling every 5 years. That makes you very rich over time.

[@personalfinance2000]

Anyone know which friend released the 300 page serial acquirer manual?? Did he say RAQ or REQ capital??

[@JPX-7]

It was REQ Capital

[@bradleyhope3652]

Another one

[@faw1998ss]

really enjoyed this conservation. really like Chris a lot. A question: with all the AI capablity improving, how AI will impact CSU, TOI and Lumeine? I bought many Chris's picks, but I am hesitant here with these three great companies.

[@Dividendflywheel]

A 1% stake in each won’t hurt much😊😊. But if they grow 10x or 20x you’d be in a good place. Best wishes

[@blaquiere141]

Thank you for interviewing the very best ! The last people you interviewed where really disappointing, their lists and portfolios where full of trash companies on the way to bankruptcy... I've said it all along : Chris Mayer is the GOAT.

[@Wrex327]

Who do you mean?

[@KamilMauel]

Constellation Software S3E27 😏

[@brianbirnbaum9760]

Yeah the comments here aren’t helping this channel. This isn’t a good episode. I really like Chris but they provide very little value and entertainment.

[@DM-bn6bf]

Topicus seems very expensive, even with my good growth expectations. Book value is expensive, cash flow seems expensive with growth rates. Am I missing something? If someone could explain pls. I understand great companies demand higher multiples, just seems very high

[@Dr.Dumpnpump]

What your missing is what’s priced into their future. Past performance doesn’t equal future results. Just because it’s technically expensive today, doesn’t mean it won’t or can’t grow into that valuation or higher.

[@brianbirnbaum9760]

Book value is completely meaningless when analyzing 99% of businesses.

[@cheesy132]

the implication here is he was smart enough never to sell. When will you guys interview the investors who held onto Cisco, Nokia, BlackBerry… and Never sold. He’s just one investor out of thousands who flipped a coin 10 times and kept getting heads.

[@Dividendflywheel]

I think he owns about 15 or 20 compounders.

[@georgepolski9771]

😂😂😂 at some point you gotta admit that there's some skill involved