YouSaid · the spoken record

Chris Mayer

lines on the record: 53
first: 2024-02-16
most recent: 2024-02-16
sittings or episodes: 1
sources: podcast

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“LTL trucking company. If you knew what 2023 looked like, have I gave you the financials ahead of time? You would have seen a decline in revenues and a decline in earnings per share for the year. You would for sure not thought that the stock would be up 43%, which is what it was. So, you know, again, just it's difficult to forecast on those kinds of macro variables. And that's why I like to just stick with really good companies that I know well and that are compounding capital high rates and otherwise sit back and let them do their thing.”
2024-02-16 · We Study Billionaires · TIP608: Long-Term Compounding w/ Chris Mayer · IDENTIFIED FROM THE TRANSCRIPT
“You go back and look, just look at the high and low and the differences. And, you know, last year, it was typical, even though it was a very strong year that the difference between highs and lows in a lot of names was quite wide, 50% or more. And it wasn't like it was just a straight line up through the year. I mean, I remember in October, I had maybe two or three positions that were negative for the year. I think maybe, you know, I can't remember specifically. I think Lifco might have been one of those that was actually down year to date at one point and wound up finishing plus 40 or something. So it's the lesson you get we get every year, which is there's lots of opportunities even just within a year if you're patient with these things. And maybe the last thing I'll say about 2023 was it was another year where the market serves us some humble pie as far as macro forecasting goes. I mean, how much talk we had about there being recession and slowdown? And even if you knew the results ahead of time, I'll take Old Dominion, which is a company I have in the portfolio.”
2024-02-16 · We Study Billionaires · TIP608: Long-Term Compounding w/ Chris Mayer · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I mean, 2023, you know, you know you're having a good year when you're worst performer is up 19% of the year. That was Haiko A. But I had a couple that were up about 80%. I'm Technion and Lumine, which we'll talk about later. We're both big winners. I think Copar was up 60%. Constellation, which we're going to talk about was up about 60%, I think. And these are all big, chunky positions. I run a concentrated fund. So it's just everything really came together. And I've owned all these positions for a while. And it's just nice to see that. Other than that, I would say, yeah, I didn't sell anything which was interesting. And I didn't, you know, I had some influ. So I had some chances to do some things. And I had really two moves during the year that I made and they were both very impactful. One was adding a lot to Lumine, which again we'll talk about and then also adding a lot to Technion when I had the chance. So those two worked out well. I mean, the other thing that's always, I like to do is”
2024-02-16 · We Study Billionaires · TIP608: Long-Term Compounding w/ Chris Mayer · IDENTIFIED FROM THE TRANSCRIPT