TIP731: Owning Best-in-Class Businesses w/ Joseph Shaposhnik

In this episode of The Investor's Podcast, Clay Finck interviews Joseph Shaposhnik about the launch of his new ETF, Rainwater Equity (RW), which focuses on investing in publicly listed recurring revenue businesses. Joseph discusses his investment philosophy, emphasizing the importance of recurring revenue, exceptional management teams, and long-term stock holdings. He shares insights from his experiences with legendary investors like Peter Lynch and Will Danoff, and explains why he believes the active management industry is broken. Joseph also touches on the role of valuation, the potential impact of AI, and highlights Constellation Software as his top stock pick for the next 20 years, while also diving into the aerospace aftermarket industry and his investment in Lore Holdings.

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The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

Introduction to Rainwater Equity ETF and Reflections on Peter Lynch's Investment Approach

The Broken Active Management Industry and Rainwater's Solution

Bill Miller's Cornerstone Investment and the Power of Recurring Revenue

The Advantage of Recurring Revenue and Thoughts on the Magnificent Seven

Investment Strategy: What Rainwater Doesn't Do and the Role of Valuation

Constellation Software as a Top Pick and the Aerospace Aftermarket Industry

Portfolio Management and Differences Between the New Fund and Prior Fund

TIP731: Owning Best-in-Class Businesses w/ Joseph Shaposhnik

The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network

00:00Introduction to Rainwater Equity ETF and Reflections on Peter Lynch's Investment Approach

Introduction to Rainwater Equity ETF and Reflections on Peter Lynch's Investment Approach

11:13The Broken Active Management Industry and Rainwater's Solution

The Broken Active Management Industry and Rainwater's Solution

21:37Bill Miller's Cornerstone Investment and the Power of Recurring Revenue

Bill Miller's Cornerstone Investment and the Power of Recurring Revenue

33:23The Advantage of Recurring Revenue and Thoughts on the Magnificent Seven

The Advantage of Recurring Revenue and Thoughts on the Magnificent Seven

45:55Investment Strategy: What Rainwater Doesn't Do and the Role of Valuation

Investment Strategy: What Rainwater Doesn't Do and the Role of Valuation

57:01Constellation Software as a Top Pick and the Aerospace Aftermarket Industry

Constellation Software as a Top Pick and the Aerospace Aftermarket Industry

1:08:02Portfolio Management and Differences Between the New Fund and Prior Fund

Portfolio Management and Differences Between the New Fund and Prior Fund