Intro

This chapter explores Medici's successful investment strategies, emphasizing the role of an investment committee and the journey of a portfolio manager. It also delves into specific investment theses on companies like Dollarama, Meta, and O'Reilly Automotive, offering a glimpse into the firm's strategic market choices.

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Episode notes

On today’s episode, Clay Finck 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 - Intro

01:35 - What led Pierre to join Medici just two years after they started.

06:08 - Medici’s formula for outperforming the market.

12:30 - How Pierre identifies the moat within a great business.

29:08 - Medici’s bull thesis on Dollarama.

38:36 - What keeps Medici in Meta stock.

49:36 - How Meta is approaching capital allocation.

56:05 - How Pierre gets comfortable with Meta given the level of change they are bound to see over the next decade.

01:04:19 - An investment overview of O’Reilly Automotive.

And so much more!

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

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