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100 Baggers: Stocks that Return 100-to-1 and How to Find Them

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Tilman Versch: It’s interesting. There’s one quote where you make the metaphor for 100 baggers. What are your ways if you’re hunting, how you’re coming closer to the deer or to the target to use this metaphor?

Reflections on 100 Baggers - Woodlock House Famil Reflections on 100 Baggers - Woodlock House Famil

I had a question regarding the potential conflict in the years ahead from China and how a takeover of Taiwan would affect the semiconductor landscape. Given the geopolitical events unfolding and the U.S. weak foreign policy position, I see it as a matter of when, not if, China will take over Taiwan. As for our investments in this space, we’ll certainly keep an eye out if any signs of an imminent move occur. With that said, I don’t think that China would cause any major disruptions in the event of a takeover or assertion of administrative control. Metaverse land is ripe for development, and it is already becoming incredibly valuable. These worlds will have a variety of business ventures, shops, properties, and entertainment venues. Families are generally a positive for me when there’s large family ownership in the business. There’s empirical research on this too that families, in general, are good stewards of capital because they tend to be less levered and less aggressive. They are more willing to invest long-term and not play the quarterly earnings game. Dealing with conflict of interest between the family and minority shareholdersChris Mayer: What’s my long-term vision? Well, my long-term vision would be that… Really, I don’t need any additional capital. Capital I have, I just compound that at a good rate over a very long period of time. Owning a concentrated portfolio that does not turn over much. That would be ideal. That would be what I would hope to achieve. What was the second question?

100-Baggers” of the Next Decade | Brownstone Finding the “100-Baggers” of the Next Decade | Brownstone

Tilman Versch: That’s a clear answer. I have another question from Dennis. He is asking what’s your advice for young people who want to get into the investment business. If I haven’t recommended the book, go out and get it, the book is an easy read and has some great insights. That’s all we have time for this week. If you have a question for a future mailbag, you can send it to me right here.Tilman Versch: Have you used these days also to think about portfolio composition, how you size positions, how you allocate? Which is your way to do this and how has it changed maybe in the last weeks? I’ve been to Taiwan more times than I can remember. Taking a flight from Tokyo’s Haneda airport to Taipei was as normal for me as a flight from Chicago to San Francisco. Revenue growth remains necessary to achieve 100-bagger status; it will not happen without revenue growth. A bonus is if the revenue growth filters down the income statement to earnings. Because as the growth filters down, it helps expand the P/E multiple. It’s important to leave time, not only to read those books, as I mentioned at night but also to just spend time with primary documents, just spending time reading annual reports or going through investor presentations and transcripts. Those are things that you usually get a good bang for your time there. It really requires you to manage your time well, and not allow distractions to take over. Tilman Versch: Thank you very much for the great interview and thank you to the audience for the great questions, and have a great day or week as well. Thank you.

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