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After investigating our companies and making our decision, put it in your coffee can and forget about it. This information should not and cannot be construed as or relied on and (for all intents and purposes) does not constitute financial, investment or any other form of advice. The other thing that I try to do is have a limit on how much I’ll put in any one name on a cost basis. In other words, the world will have several years to recalibrate in the event that China moves to take control of Taiwan.
100-Baggers” of the Next Decade | Brownstone Finding the “100-Baggers” of the Next Decade | Brownstone
It always makes me think of Charlie Munger’s favorite famous quote where he talks about, “Show me the incentives, I’ll show you the outcome. To get the full story, I encourage you to reserve your seat for the “100X Plan” by going right here.These findings suggest that companies with high gross profit margins have a resilient, long-term advantage over their competitors, and are more likely to become 100-baggers. He said it dividend was an expensive luxury because if you saw dividends, you were kind of intentionally slowing down your own compounding of capital over time. I like investing with companies that have high insider ownership, and I think it brings the alignment with shareholders closer together. That was an interesting place to start my career in finance because as a lender, you really think a lot about the downside and balance sheets and you learn how to value different assets.
Reflections on 100 Baggers - Woodlock House Famil Reflections on 100 Baggers - Woodlock House Famil
Chris Mayer: Again, that’s going to be something you going to just look at the track record, have they treated minority investors, have they treated them fairly in the past? I have a lot of philosophy books and some of my favorite thinkers, the pretty quirky ones like Buckminster Fuller and Alfred Korzybski. Chris Mayer: Well, I would say the pandemic definitely made me rethink positions because I had walked into this with a lot of exposure to travel and aviation and some other positions that were directly affected by the pandemic either because they were had to shut down or whatever.You don’t want to have that happen when you love a name and you’ve got 25, 30% in it and it doesn’t work. I started helping them with the family office and then in the middle of 2018, I proposed to them the idea that maybe we could start a fund. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. I just want to ask you what’s interesting that other investors should know about you and what makes a good investment for you as a beginning question. Chris Mayer: A lot of times in broader history, those transitions don’t really go so well but there are always exceptions.
100 Baggers – Christopher Mayer | JM Finn Book review: 100 Baggers – Christopher Mayer | JM Finn
I think if you come at it with the mentality that there’s always someone on the other side, trade gives you some pause. I also have a question that’s coming, already asked, and that’s coming from one of the people who wrote before our chat is how you kill ideas. He says a number of little quotable things in here I know I remember saying things like, “If not for thieves, there’d be no locks,” talking about how problems create opportunities. Yes, you should prefer smaller companies, but the more important factor is to focus on the rate at which the business compounds its capital. Tilman Versch: Thank you very much for the great interview and thank you to the audience for the great questions, and have a great day or week as well.
Chris Mayer: Well, I think some of the positive surprises would be the resilience of some of these businesses in this environment has been encouraging. I would say don’t worry about the dividend instead, focus on the cash flows and then how they reinvest and allocate those cashflows.