Clay chats with Chris Mayer about long-term compounding and a few of his holdings, including Constellation Software. Chris is well-known for his book, 100 Baggers, and has inspired thousands of readers to become better investors. If you’re interested in investing in multi-baggers, then this episode is a must-listen. Chris is the author of 100 Baggers and the co-founder and portfolio manager of Woodlock House Family Capital.  IN THIS EPISODE YOU’LL LEARN: 0:00:00 - Intro 0:01:09 - A review of how Chris’s fund performed in 2023. 0:04:16 - Where Chris focuses much of his attention on managing a fund. 0:11:30 - How Chris discovered Constellation Software. 0:13:02 - Chris’s thoughts on Constellation Software’s ~60% increase in their share price over the past year. 0:17:57 - How the competitive landscape for Constellation Software has developed over the years. 0:21:01 - The potential drawbacks of Constellation Software’s decentralized business model. 0:23:45 - Why Constellation Software has started performing spinoffs. 0:25:26 - Whether Constellation will continue to do more spinoffs in the future or not. 0:37:24 - Why Chris decided to invest in the Constellation Software spinoffs in his fund (Topicus & Lumine). 0:40:15 - How Constellation 2.0 has developed in recent years. 0:41:17 - Why Topicus is targeting higher organic growth in their subsidiaries. 0:54:54 - Chris’s thoughts on the valuation of Constellation Software, Topicus, and Lumine. 1:02:51 - How Chris would consider allocating fresh capital today in his fund. 🤝 Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Clay and the other community members: https://theinvestorspodcast.com/mastermind 📈 Learn to invest like legend investors do — from the company that has interviewed them. Use YOUTUBE15 to get 15% off! https://theinvestorspodcast.podia.com/how-to-get-started-with-stocks 💰Click here to download your FREE guide to Stop Worrying About Your Finances In 4 Simple Steps: https://www.theinvestorspodcast.com/subscribe-youtube/ 🧮 TIP Intrinsic Value Example: https://docs.google.com/spreadsheets/d/19Fh5qq0xoe44vFxahy81yf2gEmsAVjrX/edit?usp=sharing&ouid=101082623034436142898&rtpof=true&sd=true 📊TRY OUR STOCK INVESTING TOOL: TIP FINANCE https://www.theinvestorspodcast.com/tip-finance/ ▶️ RELATED EPISODES: - Discover the Secrets of 100 Baggers: Stocks That Turned $1 Into $100! w/ Chris Mayer: https://youtu.be/ScZdenQbd8A - An Investor's Guide to Clear Thinking w/ Chris Mayer: https://youtu.be/4tBSuif3x2M - Serial Acquirer: Successful Acquisition Strategies w/ Chris Mayer: https://youtu.be/Pp1m69E9vxg - How to Identify High-Quality Compounders | Copart & Topicus Stock Analysis: https://youtu.be/oAJAIxkPJLY - The Greatest Capital Allocator No One Knows About: https://youtu.be/nVK2s80SfyM - A Company To Watch Out For? Constellation Software: Intrinsic Value Analysis: https://youtu.be/yM2zQxiWCOU 🎧 Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP 🖊️ Access the transcript and learn more about the guest here: https://www.theinvestorspodcast.com/episodes/long-term-compounding-w-chris-mayer/ 📖  BOOKS MENTIONED: - 100 Baggers by Chris Mayer: https://amzn.to/3OuMK4G - How Do You Know? by Chris Mayer: https://amzn.to/3qs5lGv - 100 to 1 in the Stock Market by Thomas Phelps: https://amzn.to/3DKt5sy Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀 💡 OTHER RESOURCES - Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a 14-day free trial: https://www.sahg6dtr.com/59QC8Z/R74QP/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ABOUT OUR SHOW 🎙  On We Study Billionaires, we interview and study famous financial billionaires including Warren Buffett, Bill Gates, and Ray Dalio. We teach you what we learn and how you can apply their investment strategies in the stock market. 🌍 Website: https://www.theinvestorspodcast.com/we-study-billionaires/  📝 Help us understand our audience better so we can create a more intentional user experience by answering this survey! https://www.theinvestorspodcast.com/survey2023-youtube ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📚OUR FREE INVESTING COURSES/RESOURCES https://www.theinvestorspodcast.com/tip-academy/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.