TIP680: Investing in Exceptional Businesses for the Long Run w/ Dev Kantesaria

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 6 December 2024

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today’s episode, Clay is joined by Dev Kantesaria to discuss the current market environment, the types of investments he is looking for, FICO, S&P Global, and much more. Dev is the founder and portfolio manager at Valley Forge Capital Management. The firm has been highly successful since its inception in 2007, as it’s outperformed the S&P 500 by a wide margin and has over $4 billion in assets under management. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 01:46 - Dev’s view on the current market environment and the recent stock market rally. 05:02 - How Valley Forge Capital Management adopted Warren Buffett and Charlie Munger’s investment approach. 09:16 - Why predictability is an essential part of Dev’s investment approach. 11:32 - Why Dev has decided not to invest in any Big Tech companies. 37:11 - Why pricing power is the hallmark of a great business. 53:30 - Why Dev will continue to invest in the US despite optically higher valuations. 56:59 - The reason Dev loves compounding machines that perform share repurchases. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Check out Valley Forge Capital Management. Related Episode: Listen to TIP389: Buffett's Core Principles w/ Dev Kantesaria, or watch the video. Follow Clay on Twitter. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. 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: River Toyota Connect Invest TastyTrade Miro American Express The Bitcoin Way Public Fidelity Fundrise Onramp SimpleMining ReMarkable Vanta Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! 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! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.7	On today's episode, I'm joined by Dev Kontasaria.
0:06.4	Dev is the founder and portfolio manager at Valley Forge Capital Management.
0:10.2	The firm has been highly successful since its inception in 2007, as it's outperformed the S&P
0:15.6	500 by a wide margin and has over $4 billion in assets under management.
0:22.6	During this episode, we covered Deb' view on the current market environment and the recent stock market rally, how Valley Forge
0:27.6	adopted Warren Buffett and Charlie Munger's investment approach, why predictability and pricing
0:32.5	power are essential parts of his long-term approach to investing, why Dev has decided not to invest in
0:38.4	any big tech companies as of the time of recording, and why he'll continue to invest in U.S.
0:43.5	large-cap companies despite the optically higher valuations relative to their international
0:48.2	counterparts, why Dev loves compounding machines that allocate capital to sherry purchases,
0:53.3	and so much more.
0:59.0	Dev is extremely thoughtful and is truly passionate about educating people on how to be a great investor. So with that, I hope you enjoy today's discussion with Dev Consistaria.
1:06.9	Celebrating 10 years and more than 150 million downloads.
1:13.6	You are listening to the Investors Podcast Network.
1:20.3	Since 2014, we studied the financial markets and read the books that influence self-made billionaires the most.
1:23.4	We keep you informed and prepared for the unexpected.
1:26.4	Now, for your host, Clay Fink.
1:36.4	Welcome to the Investors podcast.
1:42.2	I'm your host, Clay Fink, and today we have a very special guest for our listeners, Dev Contasaria from Valley Forge Capital Management. Dev,
1:45.6	welcome back to the show. Thank you. Happy to be here. So I've wanted to bring you back onto the
1:51.5	podcast for quite some time. You started your firm in 2007, and you've outperformed the S&P 500
	...

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