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Podcast: Excess Returns
Episode: Finding Decade-Long Compounders with Joseph Shaposhnik
Description: In this episode of Excess Returns, we sit down with Joseph Shaposhnik, founder of Rainwater Equity and former star portfolio manager at TCW. Joseph shares the investment philosophy that drove his track record of outperformance, why he focuses on recurring revenue businesses, and how he evaluates management quality and capital allocation. We also explore lessons from great investors like Warren Buffett, Bill Miller, and Peter Lynch, along with insights on valuation, portfolio concentration, and the role of passive investing in today’s markets.Main topics covered:How Joseph achieved long-term outperformance at TCW and what dr...