O dreas: We've owned a centure for at least ten years, and i believe drew, that was one of the first businesses that you a wrote up and ended up in our portfolios. The censure has strategy consulting arm, it has an opera tional arm, and then has a i t out sourcing business, which they run better than any one. And what we're trying to do is go to very large businesses and say can be consistent,. not only that, but also have high margins. O'Dreas: I liked a transition to talk about one more individual stock, accenture.
IN THIS EPISODE, YOU’LL LEARN:
01:55 - What makes Weitz’s equity and fixed income funds different from others.
04:20 - Weitz’s overall investment process and how it has evolved over time.
04:20 - What their “quality at a discount” (QAD) investing framework is.
11:45 - What 6 factors they look for to assess the quality of a company.
14:16 - What discount rate they use when projecting out cash flows.
24:01 - Their thoughts on Google, Facebook and Amazon stocks.
26:44 - Their investment thesis for Liberty Broadband.
31:30 - What drives large discrepancies between a companies’ enterprise value and market cap, and what should investors be more focused on.
37:52 - Why Accenture stock has been one of their core holdings for 10+ years.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
EPISODE RESOURCES
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