We Study Billionaires - The Investor’s Podcast Network TIP608: Long-Term Compounding w/ Chris Mayer
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Feb 16, 2024 
Chris Mayer, the author of "100 Baggers" and co-founder of Woodlock House Family Capital, shares his insights on long-term compounding in investing. He highlights the impressive performance of his fund in 2023 and dives into the fascinating world of Constellation Software. Mayer discusses its decentralized business model, recent spinoffs, and the strategies behind successful acquisitions. He also elaborates on the organic growth focus of subsidiaries like Topicus and shares his thoughts on the valuation of these innovative companies.
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2023 Performance
- Chris Mayer's fund saw its best returns in 2023, with the worst performer up 19%.
- He made two impactful moves: adding to Lumine and Technion.
Market Narratives
- Narratives like "the Fed drives markets" or "you need FANG stocks" can be misleading.
- Focusing on individual businesses and their long-term potential is key.
Focus on Essentials
- Avoid macro forecasting and focus on understanding your businesses.
- Identify key success factors over the next 10 years and ignore short-term noise.
