Shooting for Hall of Fame Returns and World Class Service with Greg Dean, Langdon Equity Partners

Aug 9, 2023

Greg Dean, Founder and Lead of Investor at Langdon Equity Partners, discusses the challenges of managing compounder companies within small-cap strategies. He shares insights on building a new investment firm and the cultural elements that are important. The podcast also explores the evolution of compounders in investing and analyzes the success story of Royal Unibrew in Denmark.

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Introduction

00:00 • 3min

Creating a Focused and Quiet Office Environment for Deep Thinking

03:12 • 2min

Lessons from Fidelity and Approaches to Investment Excellence

04:56 • 2min

Building a Lasting Culture and the Importance of Backing the Team

07:21 • 3min

The Evolution of Compounders in Investing

10:00 • 27min

Analyzing a Quintessential Stock that Embodies Key Business Elements and Strong Management

37:25 • 4min

Building a Strong Team and Sustainable Environment

41:27 • 21min

Vision for the Future

01:02:07 • 9min

Today’s episode is the next in our series of profiles of emerging investment firms. In these interviews, we dive deep into the various components of building an investment firm that can compound. Our guest on the show today is Greg Dean, the Founder and Lead of Investor at Toronto-based Langdon Equity Partners. Greg founded Langdon in 2021 after successful stints at Fidelity and Cambridge Global Asset Management. Langdon describes itself as an “active and engaged owner of world class smaller companies.” The firm has assembled concentrated portfolios of companies with enterprise values between $500 million and $5 billion that are cash generative and are run by long-term-oriented executives.

In this conversation, we discuss:

Why Greg wants the Langdon office to be more like a library than a train station;
His definition of a compounder and the unique challenges of managing such companies within small cap strategies;
How Langdon has tried to position itself differently from other small-cap-focused firms;
The kinds of mistakes that prevent companies from realizing their full compounder potential; and
The cultural elements that are most important when building a new investment firm.

Without any further ado, here is my conversation with Greg Dean of Langdon Equity Partners. For more information about Langdon Equity Partners, please visit: https://www.langdonpartners.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.