TIP587: Dino Polska: A Polish Compounder w/ Kyle Grieve & Clay Finck

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 10 November 2023

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode, Clay is joined by Kyle Grieve to share a stock deep dive on Dino Polska. Dino Polska is an incredible business that has increased its store base by over 5x since 2015 and increased its earnings per share by over 10x since that time. Kyle Grieve is the host of The Millennial Investing Podcast and also helps Clay run the TIP Mastermind Community – a community built by investors, for investors. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:44 - The primary characteristics Kyle looks for in his stock investments. 06:00 - What Dino Polska’s business model is and how they’ve perfected their growth formula. 10:45 - What sticks out about Dino’s management team. 14:33 - Dino Polska’s competitive advantages. 22:31 - What enables Dino Polska to continue to grow its store counts at above-average rates. 27:36 - Why it’s important to understand both the qualitative and quantitative aspects of a moat and durable competitive advantage. 31:28 - The key things to know about Dino operating in Poland. 38:36 - How Kyle views the valuation of Dino Polska. 41:27 - Potential new verticals that Dino Polska may expand into. 49:37 - Potential risks investing in Dino Polska. 54:23 - What live events TIP recently hosted in NYC. 1:01:24 - How you can join Clay and Kyle in Omaha for our upcoming events during the Berkshire weekend. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Check out our newly released TIP Mastermind Community. Learn more about the Berkshire Summit by clicking here or emailing Clay at clay@theinvestorspodcast.com. Sohra Peak Capital Partner’s Research on Dino Polska. Related Episode: Listen to TIP585: Concentrated Value Investing w/ Shree Viswanathan or watch the video. Invest in International Stocks with Interactive Brokers. Follow Kyle on Twitter. Follow Clay on Twitter. NEW TO THE SHOW? Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: ⁠HardBlock⁠ ⁠Human Rights Foundation⁠ ⁠Plus500⁠ ⁠Netsuite⁠ ⁠Shopify⁠ ⁠Vanta⁠ HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! 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Transcript

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0:00.0	You're listening to TIP.
0:03.0	On today's episode, I'm joined by Kyle Grieve.
0:06.0	Kyle is the host of TIP's very own millennial investing show
0:10.0	and also helps me lead our TIP mastermind community.
0:13.6	Today Kyle and I do a deep dive into Dino Polska,
0:17.1	a retailer based out of Poland.
0:19.6	Before you turn off the podcast because you don't want to hear about a retailer.
0:23.3	I encourage you to reconsider and give this episode a shot.
0:26.7	Dean Polska is an amazing business and they've increased their store base by over 5X
0:31.8	since 2015 and increased their earnings per share by over 10X.
0:36.4	Shri Vizwinothan during last week's episode mentioned that he sees parallels between
0:40.8	Walmart and their early days and Denopolska today.
0:44.4	Of course, Denopolska has their own issues as they're dealing with high inflation in
0:48.5	Poland.
0:49.5	They have a much smaller total addressable market than Walmart did in the US, but they've proven that their growth
0:54.4	formula is effective, predictable, and repeatable.
0:58.1	And their founder, Thomas Berenoski, he has owned 51% of the company's shares ever since they went public.
1:04.7	Today Kyle and I cover the primary characteristics Kyle looks for in stock investments,
1:09.8	what Dean Polska's business model is and how they've perfected that growth formula.
1:14.7	What sticks out about Deno's management team?
1:17.3	Deno Polska's competitive advantages, their valuation, new verticals they might expand
1:22.2	into in the future, as well as potential risks and
	...

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