No. of Recommendations: 32
This is definitely one for Berkshire Hathaway long term investors.
I posted about Constellation software on the Falling Knives board today:
https://www.shrewdm.com/MB?pid=415441338We don’t have our founder allocating capital at neither Berkshire nor Constellation, however the latter have distribued the process through many capable people many years ago who have proved to be able to continue their 20-30% return on invested capital even in the most recent years.
You can get this humble, disciplined and deliberately inconspicuous firm for 20 x free cash flow today, below where it usually trades.
That would not normally be super special howevee where almost everything - of quality - is now trading at above average multiples, this could be a good deal relative to what else is around. It is the kind firm you want to hold for 20+ years. They compounded at around 30% the previous 20.
My post above goes through some of the indiosyncratic aspects.
- Manlobbi
