389 TIP. Buffett’s Core Principles w/ Dev Kantesaria

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On today’s episode I sit down with Dev Kantesaria. Dev is the Managing Partner of Valley Forge Capital Management, which currently has $2.7 B in assets. Dev holds an undergrad from MIT and was top of his class at Harvard Medical School before pivoting and going into venture instead of medicine.

IN THIS EPISODE, YOU’LL LEARN:
00:00 – Intro
04:06 – First Time Dev to Discover Warren Buffet and Charlie Munger Investing Philosophies
03:38 – Does Dev Kantesaria Use Stock Screeners in Distilling the Universe of Stocks
08:45 – How Much Leg Work Is Done Before Picking a Stock
09:35 – Hedge Fund Structure Set Up of Dev Kantesaria
11:28 – Cash Allocation Strategy
12:59 – How to Invest Through Recessions
14:56 – Why Dev no longer invests in Biotech, after he spent 18 years in Biotech Ventures?
17:58 – Dev Kantesaria’s circle of competence
20:07 – Why Dev Kantesaria Is Shying Away From Faang Stocks?
22:38 – What Discount Rates/Hurdle Rate Is Dev Kantesaria Is Using?
25:16 – Dev Kantesaria’s Outlook for the Next 10 Years?
27:02 – What Does “Pressure on Employment” Mean
28:12 – What Is the Largest Holding in Dev Kantesaria’s Portfolio Which He Has the Most Conviction In?
33:11 – Biggest Learnings From Losers in Their Portfolio
37:18 – Have They Ever Used Activism Style Approach
39:54 – Is It Harder to Keep the Portfolio Concentrated as They Scale?
41:19 – Approach in Selling
43:14 – Possible Reason to Go In to a Leap
45:29 – Framework in Finalizing Valuation
48:32 – Books and Resources Dev Kantesaria Would Recommend for You to Read

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