My guest on the show today is Joseph Shaposhnik, the portfolio manager of the TCW New Americas Premier Equities Fund. Joseph began managing the fund in 2015 and since then has assembled a concentrated portfolio of mostly US mid-to-large-cap stocks. Morningstar currently has a 4-star rating on the fund, which consists of a collection of high quality, recurring revenue businesses. In this conversation, we covered:

• Why predictability of cash flows is so important to Joseph;
• The rationale for having a heavy weighting in Constellation Software;
• What he has learned about assessing management through his relationship with successful CEOs;
• Why all recurring revenue businesses are not created equally; and
• Why a company like Meta doesn’t make the cut to be in his portfolio

For more information about Joseph Shaposhnik and TCW Group, please visit: https://www.tcw.com/

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All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of SNN or its affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.