TIVP058: Hermes: The Most Prestigious Luxury Brand in the World w/ Daniel Mahncke & Shawn O’Malley
The Intrinsic Value Podcast - The Investor’s Podcast Network
The Investor's Podcast Network
4.6 • 592 Ratings
🗓️ 8 February 2026
⏱️ 87 minutes
🧾️ Download transcript
Summary
Transcript
Click on a timestamp to play from that location
| 0:00.0 | MS is probably the most valuable brand in the world, but you also have to pay a hefty |
| 0:06.6 | multiple to call yourself an owner of MS. |
| 0:09.6 | And anyone who knows us knows that usually we stay away from stocks this expensive, but |
| 0:13.8 | I have never seen a company that was able to maintain such a high valuation multiple |
| 0:18.8 | over so many years. |
| 0:26.4 | I guess it's telling that their popular Birkenbacks literally outperform the market in most other asset classes over the last few decades. |
| 0:29.8 | But one stock they could not perform is MS itself. |
| 0:43.2 | You're listening to the Intrinsic Value podcast by the Investors Podcast Network. Since 2014, with over 180 million downloads, we've learned directly from the world's best investors. |
| 0:50.1 | Now, we're applying those lessons to analyze businesses and investment opportunities every week, |
| 0:56.2 | helping you uncover intrinsic value. |
| 0:59.0 | And now, here are your hosts, Sean O'Malley and Daniel Monker. |
| 1:09.9 | We are on the hunt for high quality companies here on this show. |
| 1:14.7 | And I'm sure you could argue about the definition of high quality, but part of it certainly is these businesses that defy the laws of economics or business. |
| 1:23.8 | And really, when a company makes outsized profits, what we would normally think is that competitors |
| 1:28.6 | will come in and profit will normalize. Those profits will be eroded away. That's the idea, |
| 1:34.6 | typically what you would learn in a textbook. But some companies have what Warren Buffett calls a moat, |
| 1:40.1 | something that protects them from competition and allows them to keep earning outsized profits. |
| 1:46.8 | And companies that have done that successfully in the last decade or two have typically been |
| 1:51.0 | the tech giants that we all know, building these self-reinforcing ecosystems that just |
| 1:56.3 | make it incredibly hard for competitors to come into the market and take share. |
| 2:02.0 | But there is another group of company that has achieved the impossible and kept those moats for much, much longer, |
| 2:07.6 | not just a decade or two, but for centuries at this point. And of course, some people |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Investor's Podcast Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Investor's Podcast Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.