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TIP529: Joel Tillinghast & Uncovering the Art of Outperformance
We Study Billionaires - The Investor’s Podcast Network
Constellation's Return on Invested Capital Is Incredible
Mark Leonard is very much trying to take this buffet-like approach of buying companies that will deliver strong returns for Constellation. They also specialize in acquiring smaller companies and they're pretty good at avoiding debt and making these acquisitions. In February 2021, his most recent letter, it said, Most of our competitors maximize financial leverage and flip their acquisitions within three to seven years. CSI's unique philosophy will not appeal to all sellers and management teams. But we hope it will resonate with some.
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