The Greatest Capital Allocator No One Knows About | Mark Leonard of Constellation Software (TIP531)

[@WeStudyBillionaires]

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[@ashishwadekar6395]

Thank you so much Clay Finck for sharing this gem with us! I am confused with the DCF analysis done by Clay. Could someone please help me understand the analysis? Thanks.

[@bentobox7788]

Just discovered this diamond in the rough. Subscribed. You deserve more subscribers.

[@WeStudyBillionaires]

Much appreciated. Feel free to share to your friends!

[@Tendomcgoobin]

Its not a diamond in the rough. It was in 2008 maybe. You're late.

[@bentobox7788]

@@Tendomcgoobin Digging through old comments and telling them they're late? See the irony?

[@vagabond3371]

Great analysis!! and great channel. thanks for all that quality interviews and analysis, helps a lot.

[@WeStudyBillionaires]

Thanks so much. Glad you enjoyed the video! 💯

[@lukemaloney-grimes5816]

Your videos are truly brilliant for investors like me. Thankyou

[@WeStudyBillionaires]

Glad you like them! 💯

[@MrMowww1]

Would love to have you do a video to read all his shareholder letters. You have the perfect voice for that topic. I would listen frequently!

[@WeStudyBillionaires]

Thank you for the kind words! 🙏

[@pkozanov]

Clay, let me be the first one to commend you for gifting all of us with yet another truly superb video! I very much enjoy, benefit from, and appreciate your work! Thank you! Needless to say, I already shared the video with several friends.

[@clayfinck]

Thank you so much, Pavel! Your support truly means the world to TIP. I look forward to seeing you in Omaha soon!

[@henrywhh]

This is one of the best podcast I have listened to on a company. I liked the CSU company but was concerned about investing as I didn’t know how they would keep finding companies and growing. I think I her that Mr Leonard only sold one or the 600 companies he acquired and he regretted it. This is more than remarkable. Can the company continue to deliver.. it appears that they not only have a great leader but they have a great formula for success.

[@WeStudyBillionaires]

Thank you so much for the kind words! ❤

[@KamilMauel]

Great Job Clay. You have discovered the stock with no negative years since its IPO in 2006 till the last one (even in USD). 16 in a row with the GFC right after the start. There are few stocks positive then but all had a worse year sooner or later - like McDonald's in 2012. What a pity 2022 stopped this (Guinness?) record 🙁

[@davidmoore2257]

i love this stock. great deep dive. I've owned shares since sub 2000 and still holding my largest holding in my CAD portfolio and will remain so unless something changes

[@WeStudyBillionaires]

Glad you liked the episode! 🙌

[@MrMowww1]

Very professional report on a charismatic individual and company

[@WeStudyBillionaires]

SO happy to hear that! 🙌

[@vishalnangare31]

23:12 Thanks for sharing 🙏

[@WeStudyBillionaires]

Thanks for watching! 💯

[@yeahimpebble]

Very well explained. Thanks Clay. We appreciate you man.

[@WeStudyBillionaires]

Glad it was helpful! 💡

[@elfyjohnson261]

How can we buy constellation stock from USA? I tried webull, Robinhood and Schwab. None of them listed this stock.

[@Steven.C.S.]

Inspiring stuff, thanks for sharing! I'm wondering about the interview that's supposedly been deleted from Mark Leonard. Does anyone happen to have a link or source?

[@clayfinck]

Shoot me a DM on Twitter!

[@minhphung3663]

Would be great to understand how CSI acquires 100% of the target company and yet still manages to have "incentives in place" to motivate founders who essentially just exited their business.

[@Patrickpettibone-lo2rp]

Often those sorts of deals have workouts, where if the business hits xxx metric they pay an extra payment.

[@RomilCPatel]

Usually through an earnout

[@streetsmarts404]

Excellent channel. Subscribed and liked in a heartbeat. Keep up the great work!

[@WeStudyBillionaires]

Welcome aboard!

[@ilarihaggren9927]

One of the best videos on CSU out there!

[@WeStudyBillionaires]

Glad you think so!

[@TFJ2024]

What’s your thoughts on sea limited a analysis would be awesome!

[@furtsmagee1513]

Great video

[@WeStudyBillionaires]

Glad you enjoyed it! 🎉

[@real23lions]

I just found out about this guy. Mind-blowing 😮

[@WeStudyBillionaires]

Glad you found the video interesting!

[@McFlashh]

He has a greater annual return than Warren Buffett (34% vs 20%, obviously with a much smaller sample size but still incredible) and not much know about him. Considering he lives past 80 years old, this stock will be a great buy to hold for long.

[@WeStudyBillionaires]

Thank you for watching the video! 💯

[@thesauce669]

This compounding for a public company sounds "GE"ish---I always question if there is book cooking with such astronomical rates of compunding

[@Klorel123]

impressive PEG ratio. Probably a good company. Not sure, if i dare to buy at this price.

[@WeStudyBillionaires]

Glad you found the video interesting!

[@AmitSingh-re4te]

I still don’t know what this company is about, is it a software company or a company that buy other businesses. Or maybe both

[@peetoose]

It's a holding company that buys software companies.

[@freedomworks3976]

❤fantastic job 😊

[@WeStudyBillionaires]

Thank you! Cheers!

[@jimmybris123]

Organic growth less than 2% per year. He is rolling up smaller businesses, cutting costs without increasing revenue. How do we know it ends differently from Valeant Pharmaceuticals?

[@clayfinck]

Keep in mind that the cash flow generated by the business units typically gets pushed up to the capital allocators to go make more acquisitions. They can create more shareholder value through acquisitions than through growth internally. Any growth that happens internally is happening with very little capital investment.

[@NoRegertsHere]

Buy off private market for 4PE, gets revalued on the publicly listed market at 16PE (or 35PE as CSU currently sits). Smaller software companies have their value nearly 10x in value instantly. Or 4x at a more reasonable PE

[@infamousnicone]

Thank you I really needed to see this and I've been monitoring this since it was around $1800 cad 🥲 great vid 👍

[@WeStudyBillionaires]

Thanks for watching! 🙌