36 episodes

Cove Street Capital Portfolio Manager, Ben Claremon, interviews public company executives to understand how successful leaders compound shareholders’ wealth over time.

Compounders: The Anatomy of a Multibagger Ben Claremon & SNN Network

    • Business
    • 5.0 • 17 Ratings

Cove Street Capital Portfolio Manager, Ben Claremon, interviews public company executives to understand how successful leaders compound shareholders’ wealth over time.

    The Enduring Benefit of Running Permanent Capital Vehicles with Craig Packer, CEO of Owl Rock Capital Corporation (NYSE: ORCC)

    The Enduring Benefit of Running Permanent Capital Vehicles with Craig Packer, CEO of Owl Rock Capital Corporation (NYSE: ORCC)

    Our guest on the show today is Craig Packer, the CEO of Owl Rock Capital Corp, a 5.4 billion dollar market cap business development company that invests in middle market companies in the US. Craig is also the Chief Investment Officer of Owl Rock Capital, a New York-based direct lending platform with over 50 billion dollars of assets under management. This is the first business development company—or BDC for short—we have had on the podcast, so we wanted to make sure that we spent some time talking about BDCs in general and why Craig thinks they are an attractive niche within public markets. Additionally, in the discussion with Craig, we covered:

    - What metrics investors should focus on when they are considering investing in a BDC;
    - Owl Rock Capital’s investment philosophy and risk management strategies;
    - How Craig would expect the BDC’s portfolio to perform in an economic downturn;
    - What kind of investment opportunities Craig and his team are seeing at the moment; and
    - The proper use of leverage within a BDC structure

    This episode of Compounders: The Anatomy of a Multibagger is sponsored by Tegus, an innovative and disruptive company that is changing the way professional investors work. For more information, please visit: https://www.tegus.co/ 

    To get all the latest updates about the podcast, see who we’ll have on next, as well as watch the video version of the pod, please follow us on twitter at @BenClaremon and subscribe to the SNN Network YouTube Channel at www.youtube.com/snnwire.

    For more information about Cove Street Capital, please visit: https://covestreetcapital.com/

    iTunes: https://apple.co/3xlUvPY

    Spotify: https://spoti.fi/3jxkxLl

    Each new episode will be available every Tuesday morning on Apple, Spotify and all podcast streaming platforms.

    All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of Cove Street Capital or any affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

    • 1 hr 9 min
    Consolidating the Mechanical and Electrical Contracting Industries with Brian Lane, President and CEO of Comfort Systems USA, Inc. (NYSE: FIX)

    Consolidating the Mechanical and Electrical Contracting Industries with Brian Lane, President and CEO of Comfort Systems USA, Inc. (NYSE: FIX)

    My guest on the show today is Brian Lane, the President and CEO of Comfort Systems, a 3.6 billion dollar market cap company that provides mechanical and electrical services, including installation, repair and maintenance, to customers in the US. Brian became CEO in 2011 and over the last 11 years, has overseen very impressive revenue growth and stock performance. The company has consistently made acquisitions over the last decade but still has a ton of white space left domestically. Given Comfort Systems’ track record and runway for future growth, it was great to talk with Brian about:

    - The company’s acquisition philosophy and what it adds to the companies it acquires;
    - How the company is approaching a potential recessionary period in the US;
    - The process by which Comfort Systems has built up a recurring revenue base;
    - The structure of the industry from a competitive perspective; and
    - How the company is overcoming both inflationary and labor availability challenges.

    This episode of Compounders: The Anatomy of a Multibagger is sponsored by Tegus, an innovative and disruptive company that is changing the way professional investors work. For more information, please visit: https://www.tegus.co/ 

    To get all the latest updates about the podcast, see who we’ll have on next, as well as watch the video version of the pod, please follow us on twitter at @BenClaremon and subscribe to the SNN Network YouTube Channel at www.youtube.com/snnwire.

    For more information about Cove Street Capital, please visit: https://covestreetcapital.com/

    iTunes: https://apple.co/3xlUvPY

    Spotify: https://spoti.fi/3jxkxLl

    Each new episode will be available every Tuesday morning on Apple, Spotify and all podcast streaming platforms.

    All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of Cove Street Capital or any affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

    • 1 hr 11 min
    Using Canvas to Ensure Access to Education for Everyone with Steve Daly, CEO of Instructure Holdings (NYSE: INST)

    Using Canvas to Ensure Access to Education for Everyone with Steve Daly, CEO of Instructure Holdings (NYSE: INST)

    Our guest on the show today is Steve Daly, the CEO of Instructure Holdings, a 3.6 billion dollar educational software company. After serving on the Board of the company, Steve became the CEO in late 2020, right in the middle of pivotal time for the company. Instructure’s core products consist of cloud-based learning management systems used by higher education and K through 12 schools all around the world. Listeners may not be familiar with Instructure, but the Canvas brand is likely something many people have heard of or even used.

    In 2020, the COVID outbreak presented all kinds of challenges for schools, especially when it came to figuring out how to use technology to continue the education process in a remote environment. Given how well Instructure is positioned to help schools embrace new technologies, I was excited to hear from Steve about:

    - How the outbreak of COVID impacted the demand for learning management systems in both higher ed and K through 12;
    - Why cloud systems are better than on premise systems and how that leads to very low churn among customers;
    - Penetration rates of learning management systems across end markets and the different strategies Instructure employs to grow;
    - How the company went from being quite unprofitable to generating very attractive margins in a short period of time; and
    - How Thoma Bravo’s Orlando Bravo convinced Steve to join the Board of Instructure and eventually become the CEO.

    This episode of Compounders: The Anatomy of a Multibagger is sponsored by Tegus, an innovative and disruptive company that is changing the way professional investors work. For more information, please visit: https://www.tegus.co/ 

    To get all the latest updates about the podcast, see who we’ll have on next, as well as watch the video version of the pod, please follow us on twitter at @BenClaremon and subscribe to the SNN Network YouTube Channel at www.youtube.com/snnwire.

    For more information about Cove Street Capital, please visit: https://covestreetcapital.com/

    iTunes: https://apple.co/3xlUvPY

    Spotify: https://spoti.fi/3jxkxLl

    Each new episode will be available every Tuesday morning on Apple, Spotify and all podcast streaming platforms.

    All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of Cove Street Capital or any affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

    • 1 hr 9 min
    Putting the Customer First for 90 Years with Scott King, CEO, and Jeff Gorman, Executive Chairman of The Gorman-Rupp Company (NYSE: GRC)

    Putting the Customer First for 90 Years with Scott King, CEO, and Jeff Gorman, Executive Chairman of The Gorman-Rupp Company (NYSE: GRC)

    Our guests on the show today are Scott King and Jeff Gorman, the CEO and Executive Chairman of The Gorman-Rupp Company, a 700 million dollar market cap company that designs, manufactures, and sells pumps and pump systems to customers all over the world. 2022 has been quite an eventful for year for the company. Earlier in the year, Jeff Gorman stepped back to Chairman, allowing Scott to become the CEO, despite not having the Gorman last name. The company also completed a very large acquisition of a company called Fill-Rite. Given those events and all of the other challenges in the world today, I was excited to speak with Scott and Jeff about:

    - The timing of the management transition and the expectation that Scott continue the company’s long history of dividend increases
    - The rationale for the Fill-Rite deal and why now was the right time to take a big swing—with some leverage;
    - The importance of culture and the family-like values that have persisted over the last 90 years;
    - Where the company is investing in technology and innovation; and
    - How the company approaches tough economics times given all of the different crises the company has weathered during its long history

    This episode of Compounders: The Anatomy of a Multibagger is sponsored by Tegus, an innovative and disruptive company that is changing the way professional investors work. For more information, please visit: https://www.tegus.co/ 

    To get all the latest updates about the podcast, see who we’ll have on next, as well as watch the video version of the pod, please follow us on twitter at @BenClaremon and subscribe to the SNN Network YouTube Channel at www.youtube.com/snnwire.

    For more information about Cove Street Capital, please visit: https://covestreetcapital.com/

    iTunes: https://apple.co/3xlUvPY

    Spotify: https://spoti.fi/3jxkxLl

    Each new episode will be available every Tuesday morning on Apple, Spotify and all podcast streaming platforms.

    All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of Cove Street Capital or any affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

    • 1 hr 3 min
    The Building Blocks of a 100-Bagger with Chris Mayer, Portfolio Manager at Woodlock House Family Capital fund

    The Building Blocks of a 100-Bagger with Chris Mayer, Portfolio Manager at Woodlock House Family Capital fund

    My guest on the show today is Chris Mayer, the Portfolio Manager of the Woodlock House Family Capital fund and the co-founder of the firm. He is also the author of 100 Baggers: Stocks That Return 100-to-1 and How To Find Them. You will notice that we are doing something a little different with this episode. Chris is our first guest who is not an executive at a public company. But, since this podcast is called Compounders: The Anatomy of a Multibagger, we thought it would be great to have on the guy who literally wrote the book on finding 100-baggers. In this wide-ranging interview, Chris and I discussed:

    - The common attributes of 100-baggers Chris found in his study of compounders;
    - The biases that make it hard for investors to realize a 100-bagger;
    - Why individual investors might be more likely than are institutional investors to get the full benefit of decades of compounding;
    - Where serial acquirers fit within the 100-bagger paradigm; and
    - Why high incremental returns on capital are so important to long-term success

    This episode of Compounders: The Anatomy of a Multibagger is sponsored by Tegus, an innovative and disruptive company that is changing the way professional investors work. For more information, please visit: https://www.tegus.co/ 

    To get all the latest updates about the podcast, see who we’ll have on next, as well as watch the video version of the pod, please follow us on twitter at @BenClaremon and subscribe to the SNN Network YouTube Channel at www.youtube.com/snnwire.

    For more information about Cove Street Capital, please visit: https://covestreetcapital.com/

    iTunes: https://apple.co/3xlUvPY

    Spotify: https://spoti.fi/3jxkxLl

    Each new episode will be available every Tuesday morning on Apple, Spotify and all podcast streaming platforms.

    All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of Cove Street Capital or any affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

    • 56 min
    Riding the Wave of Warehouse Outsourcing and Automation with Malcolm Wilson, CEO, and Mark Manduca, CIO, of GXO Logistics (NYSE: GXO)

    Riding the Wave of Warehouse Outsourcing and Automation with Malcolm Wilson, CEO, and Mark Manduca, CIO, of GXO Logistics (NYSE: GXO)

    Our guests on the show today are Malcolm Wilson and Mark Manduca, the respective CEO and CIO of GXO Logistics. GXO is a 7-billion dollar market cap company that provides logistics services to companies around the world. The company was recently spun off from XPO Logistics and now has the freedom to invest aggressively to helps its customers with supply chain and warehouse automation. COVID, supply chain disruptions and rising labor rates around the world have made many companies start to think deeply about their supply chains and to consider outsourcing and automation. As such, given how well GXO would appear to be positioned for the future, I was really looking forward to talking to Malcolm and Mark about:

    - The rationale for the spin and what having more autonomy will allow GXO to do;
    - The structural tailwinds that are behind the company as it relates to e-commerce, outsourcing and warehouse automation;
    - Why GXO is definitely not a commoditized warehouse company;
    - Why the company is a buying Clipper; and
    - The importance of return on capital when it comes to capital allocation

    This episode of Compounders: The Anatomy of a Multibagger is sponsored by Tegus, an innovative and disruptive company that is changing the way professional investors work. For more information, please visit: https://www.tegus.co/ 

    To get all the latest updates about the podcast, see who we’ll have on next, as well as watch the video version of the pod, please follow us on twitter at @BenClaremon and subscribe to the SNN Network YouTube Channel at www.youtube.com/snnwire.

    For more information about Cove Street Capital, please visit: https://covestreetcapital.com/

    iTunes: https://apple.co/3xlUvPY

    Spotify: https://spoti.fi/3jxkxLl

    Each new episode will be available every Tuesday morning on Apple, Spotify and all podcast streaming platforms.

    All opinions expressed by your hosts and the podcast guests are solely their own opinions and do not reflect the opinion of Cove Street Capital or any affiliates. This podcast is for informational purposes only, it is not investment advice, and should not be relied upon for any investment decisions. We are not recommending the purchase or sale of any securities. The hosts and guests may be beneficial owners of the securities discussed. You should not assume that the securities discussed are or will be profitable.

    • 1 hr 13 min

Customer Reviews

5.0 out of 5
17 Ratings

17 Ratings

gdjdiebd ,

Awesome pod

Ben is a hard worker, talented investor and a great guy. The podcast shows he is also not a bad host!

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