Buying and Holding Stocks for the Long Run w/ Pierre-Olivier Langevin (TIP649)

Clay is joined by Pierre-Olivier Langevin to discuss the investment approach at Medici and several of their portfolio holdings. Medici boasts an exceptional investment track record, achieving 16.0% annualized returns since 2009 compared to 11.3% for their benchmark.

IN THIS EPISODE YOU’LL LEARN:
00:00:00 - Intro
00:00:30 - Joining Medici
00:07:12 - Selecting Investments
00:17:44 - Moats
00:21:03 - Challenging your investment ideas
00:34:45 - Dollarama
00:47:13 - Meta Thesis
00:57:00 - Meta Capital Allocation
01:05:04 - Focus on what won’t change
01:11:03 - Big Tech’s growth opportunities
01:15:22 - O’Reilly Automotive
01:24:16 - Final Handoff

#InvestmentStrategies #StockMarketInsights #PortfolioManagement #InvestmentMoats #MediciInvesting

▶️ RELATED EPISODES:

💡 OTHER RESOURCES

⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤

ABOUT OUR SHOW 🎙 
On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market.

⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤

⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.

[WeStudyBillionaires]

⚠ IMPORTANT: Please beware of cyber scams and phishing attacks. We will never ask for your contact info in the comments section. Kindly report suspicious accounts you see below. Thank you!

[brianbirnbaum]

Another fantastic episode. I wish more guests went through individual positions like this. That’s where you learn the most about the real dirty work of investing—the research and understanding of a business required to find value.

[theharsh]

I don't express my appreciation for this free channel nearly enough. They truly deserve more recognition for consistently delivering such high-quality content. Keep up the fantastic work!

[QualitativeInvestor]

Clay,
Where did you get the Medici holdings positions from?

[George-fh]

I believe Dollarama's debt to equity ratio is above 10. Isn't this a major concern?

[sivaboppana]

Hey Clay, you do great interviews, I manage my own money, it would be great if your guest could share how he tracked his personal investment performance.

[joeindo]

does anybody know how to access the medici investment letters that clay references ? I cannot find them on their public website

[MRoyn-cgey]

The SPY has an annualized return of 15% since 2009. 100 basis points of outperformance is good but not eye popping. Also curious about similar 5 and 10 year performance, etc. because aint no one lump summing a huge amount of money in 2009.

[f.direncaktas]

%16 annualised returns. Aight. Now please talk about what is your(his) biggest drawdown? Everyone can pop up kinda ok investment/trading style with leveraging and this way you will get higher than %16. It is easy. Tell me what is your biggest drawdown and then let me think if you get %16 with proper way or do you just taking market risk with holding.

[BEP]

Yes but evil misdirection. What's been the % for BTC since 2009? FAR higher. 5X. So the interview should be about how the S&P has been a BAD BET