Podknife - TIP622: Finding Certainty in an Uncertain World w/ Joseph Shaposhnik by We Study Billionaires

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TIP622: Finding Certainty in an Uncertain World w/ Joseph Shaposhnik

Podcast |: We Study Billionaires - The Investors Podcast
Publisher |: Wondery
Media Type |: audio
Podknife tags |: Books,; Business,; Interview,; Investing,; Management & Marketing
Categories Via RSS |: Business,; Education,; Investing
Publication Date |: Apr 12, 2024
Episode Duration |: 01:11:51

Description
Content Encoded

On today’s episode, Clay sits down with Joseph Shaposhnik to discuss his high quality investing approach. Since its inception in 2015, the TCW New America Premier Equities fund has compounded at 15.8% per year versus the benchmark of 12.0%. Joseph is the Portfolio Manager of TCW New America Premier Equities, Global Premier Sustainable Equities, and Global Space Technology Equities portfolios. According to Nasdaq eVestment, the TCW New America fund has outperformed 99% of its peers. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 03:25 - The two types of recurring revenue. 13:37 - Why certainty is an essential part of a quality investing framework. 25:02 - How Joseph thinks about portfolio allocation by industry. 28:02 - Value accretive versus value destructive capital allocation decisions. 36:09 - How understanding incentives can make us better investors. 36:53 - Why we should ignore Buffett’s advice of buying businesses so great that an idiot can run it. 46:33 - How Joseph developed his own investment approach after working under two investment legends at Fidelity. 51:56 - Why Joseph believes that quality investing is the best approach to match his investment objectives and temperament. 58:33 - Why growth in free cash flow per share is Joseph’s number one focus as an investor. 1:00:28 - An update on a few of Joseph’s portfolio holdings Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Learn more about the TCW New America Fund. Check out Buffett’s 1996 Shareholder Letter. Book Mentioned: What I Learned About Investing from Darwin by Pulak Prasad. Book Mentioned: Big Money Thinks Small by Joel Tillinghast. Episode Mentioned: RWH017: Fidelity Legend w/ Joel Tillinghast | YouTube Video. Follow Joseph on LinkedIn. Follow Clay on Twitter. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Meyka AT&T Vacasa Fidelity Monarch Money Yahoo! Finance Long Angle Public USPS American Express Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Joseph is the Portfolio Manager of TCW New America Premier Equities, Global Premier Sustainable Equities, and Global Space Technology Equities portfolios. According to Nasdaq eVestment, the TCW New America fund has outperformed 99% of its peers.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

03:25 - The two types of recurring revenue.

13:37 - Why certainty is an essential part of a quality investing framework.

25:02 - How Joseph thinks about portfolio allocation by industry.

28:02 - Value accretive versus value destructive capital allocation decisions.

36:09 - How understanding incentives can make us better investors.

36:53 - Why we should ignore Buffett’s advice of buying businesses so great that an idiot can run it.

46:33 - How Joseph developed his own investment approach after working under two investment legends at Fidelity.

51:56 - Why Joseph believes that quality investing is the best approach to match his investment objectives and temperament.

58:33 - Why growth in free cash flow per share is Joseph’s number one focus as an investor.

1:00:28 - An update on a few of Joseph’s portfolio holdings

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Learn more about the TCW New America Fund.
Check out Buffett’s 1996 Shareholder Letter.
Book Mentioned: What I Learned About Investing from Darwin by Pulak Prasad.
Book Mentioned: TRGtO4OMh9Iq7nXFSwJhQhAj2JYA8ZSp6Sf9UMw.EWr4IMrkdVli7hXZ4QTb2zV1UiShlqPalIOmjyqcO8k&dib_tag=se&keywords=joel+tillinghast&qid=1712333502&sprefix=joel+tillingha%2Caps%2C137&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=f079a485b7e6db156f435124172457dc&language=en_US&ref_=as_li_ss_tl">Big Money Thinks Small by Joel Tillinghast.
Episode Mentioned: RWH017: Fidelity Legend w/ Joel Tillinghast | YouTube Video.
Follow Joseph on LinkedIn.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
Enjoy ad-free episodes when you subscribe to our Premium Feed.

NEW TO THE SHOW?

Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.
Check out our We Study Billionaires Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.

SPONSORS

Support our free podcast by supporting our sponsors:

HELP US OUT!

Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Learn more about your ad choices. Visit megaphone.fm/adchoices

Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

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