IN THIS EPISODE, YOU’LL LEARN:

• What led Pierre to join Medici just two years after they started.
• Medici’s formula for outperforming the market.
• How Pierre identifies the moat within a great business.
• Medici’s bull thesis on Dollarama.
• What keeps Medici in Meta stock.
• How Meta is approaching capital allocation.
• How Pierre gets comfortable with Meta given the level of change they are bound to see over the next decade.
• An investment overview of O’Reilly Automotive.
• And so much more!

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

[00:00:00] Clay Finck: On today’s episode. I’m joined by Pierre Olivier Langevin to discuss the investment approach at Medici and several of their portfolio holdings in the world of investment managers. Medici stands above most other firms with an exceptional investment track record, achieving a 16 percent annualized return since 2009 compared to just 11.3 percent for their benchmark. Medici is based in Montreal and the vast majority of their investors speak French, so I was very happy to host the firm’s first ever podcast interview in English. During this episode, we cover what led Pierre to joining Medici so early in the firm’s existence, why Medici utilizes an investment committee to select new stocks, an overview of their investment thesis in Dollarama, Meta, and O’Reilly Automotive, and much more.

[00:00:43] Clay Finck: With that, I hope you enjoyed today’s episode with Pierre.

[00:00:49] Intro: Celebrating 10 years and more than 150 million downloads. You are listening to The Investor’s Podcast Network. Since 2014, we studied the financial markets and read the books that influence self-made billionaires the most. We keep you informed and prepared for the unexpected. Now for your host, Clay Finck.

[00:01:18] Clay Finck: Welcome to The Investor’s Podcast. I’m your host, Clay Finck. And today I’m very happy to be joined by Pierre Olivier Langevin from Medici private wealth management. Pierre, it’s so wonderful to have you with us today.

[00:01:31] Pierre-Olivier Langevin: Yeah, well, thanks for having us and quite happy to be here.

[00:01:35] Clay Finck: So Medici has had this phenomenal track record since its founding as you’ve compounded capital at 16 percent per year since the start of 2009. And that’s versus your benchmark compounding at just 11. 3%. And Pierre, you’ve been a part of a lot of that growth as portfolio manager at Medici. And I wanted to start from the beginning.

[00:01:56] Clay Finck: So after you started your career in industrial design, you then transitioned to the investment industry when you joined Medici in 2011, and that was just two years after the company’s founding. So I’m curious, what did you see in Medici at the time? And how’d you know it was a firm for you, given that you were really just getting started in the world of investing professionally?

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