Do you know Chris Mayer? He is the founder of Woodlock House Family Capital and has a true passion for investing in great businesses. In this interview, you’ll learn more about Chris’ view on multibaggers, valuation, diversification, Evolution Gaming, and much more.
CQ, thank you for posting this wonderful interview!
Chris Mayer is a giant in the Quality Investing community. There is so, so much to learn from him. I haven't read his first book yet, but I just bought it, and I will read it through my Christmas break.
And you, my friend and partner, keep delivering outstanding quality content to your subscribers. My work load has been quite heavy lately and I hardly have any time and energy left for reading at the end of the day. However, if there was only one thing I would read each day, it would be the latest post from Compounding Quality.
I am sure you are doing an excellent job at your new work.
Don't worry about not having a lot of time to digest everything.
Maybe we should think about adding a monthly summary or something like that for people who don't have time to read everything (a lot of content is published nowadays).
Hello compounding quality, I have paid for a subscription yesterday (via an email promotion and I received a receipt of payment thereafter) but I am still not showing as a paying member, I contacted substack yesterday they said to log out and wait etc but I still don't see it. Can you please either help me or refund me as this is inconvenient to say the least. Thank you
"I never buy a company for more than 10% of the Portfolio". Whenever people make this statement, does the "10%" get reset if say the share price drops significantly?
Assuming you have built an initial position of 10%, but then share price drops significantly such that it makes up only 7% of your portfolio, does this give room for portfolio managers to add to their position to restore that 10%?
It's a personal question that's different for everyone. I also never buy for more than 10% of the Portfolio. However, I prefer to let my winners run so when it grows to more than 10% of the Portfolio I probably won't trim it.
"I never buy a company for more than 10% of the Portfolio, but I let my runners run. I would have no problems with it when a certain company grows to 20% or even 40% of the total portfolio value."
Does it mean that he doesn't do rebalancing at all?
While I acknowledge Copart's impressive track record and quality, a forward PE of 34.2x raises concerns for a conservative value investor like myself. It's crucial to balance growth potential with a margin of safety. How do you reconcile the seemingly rich valuation with the principles of value investing, especially considering the stock's remarkable ascent over the years?
CQ, thank you for posting this wonderful interview!
Chris Mayer is a giant in the Quality Investing community. There is so, so much to learn from him. I haven't read his first book yet, but I just bought it, and I will read it through my Christmas break.
And you, my friend and partner, keep delivering outstanding quality content to your subscribers. My work load has been quite heavy lately and I hardly have any time and energy left for reading at the end of the day. However, if there was only one thing I would read each day, it would be the latest post from Compounding Quality.
I greatly admire and appreciate your work!
Hi Pavel,
I am sure you are doing an excellent job at your new work.
Don't worry about not having a lot of time to digest everything.
Maybe we should think about adding a monthly summary or something like that for people who don't have time to read everything (a lot of content is published nowadays).
As you know, I'm in for the long run. I'll keep reading and learning at a slow but steady pace. I'd rather be "the tortoise", not "the hare" 😊 🙌
Absoultely! It's the most sustainable way to learn (being a tortoise) :)
Hello compounding quality, I have paid for a subscription yesterday (via an email promotion and I received a receipt of payment thereafter) but I am still not showing as a paying member, I contacted substack yesterday they said to log out and wait etc but I still don't see it. Can you please either help me or refund me as this is inconvenient to say the least. Thank you
Could you please send me an email via pieter@compoundinguality.net?
Let's solve this issue right away!
Take a look at PHX.TO. Canadian company great balance sheet. Low PE ratio with healthy dividend. Up 15% in 2 months
Thanks for this information, Eric!
I cannot get enough of Chris' thinking and attitude
He's a very kind and brilliant man for sure!
"I never buy a company for more than 10% of the Portfolio". Whenever people make this statement, does the "10%" get reset if say the share price drops significantly?
Assuming you have built an initial position of 10%, but then share price drops significantly such that it makes up only 7% of your portfolio, does this give room for portfolio managers to add to their position to restore that 10%?
It's a personal question that's different for everyone. I also never buy for more than 10% of the Portfolio. However, I prefer to let my winners run so when it grows to more than 10% of the Portfolio I probably won't trim it.
"I never buy a company for more than 10% of the Portfolio, but I let my runners run. I would have no problems with it when a certain company grows to 20% or even 40% of the total portfolio value."
Does it mean that he doesn't do rebalancing at all?
At least he doesn't trim his winners. :)
While I acknowledge Copart's impressive track record and quality, a forward PE of 34.2x raises concerns for a conservative value investor like myself. It's crucial to balance growth potential with a margin of safety. How do you reconcile the seemingly rich valuation with the principles of value investing, especially considering the stock's remarkable ascent over the years?
Hi Joshua,
I agree with you. I would love to own Copart but not at today's valuation levels.
I wrote something short about it here: https://www.compoundingquality.net/p/best-buys-december-2023 (in the great company but too expensive part)