TIP699: Unlocking High-Growth Investments w/ Jason Donville and Jesse Gamble

TIP699:与贾森·唐维尔和杰西·甘布尔探讨解锁高增长投资

We Study Billionaires - The Investor’s Podcast Network

教育

2025-02-16

1 小时 12 分钟
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In today's episode, Kyle Grieve chats with Jason Donville and Jesse Gamble about their investing philosophy, their emphasis on focusing on growth and value, their evolution from using ROE-focused metrics to the rule of 40 to identify great investing opportunities, how to use the rule of 40 to add high performing businesses to a watchlist, how the market reacts to interest rates, AI impact on the business landscape, and much more! Jason Donville is an award-winning analyst with a distinguished career in Asia and Canada. He previously served as Head of Equity Research at Credit Lyonnais Securities Asia and Research Director at Credit Suisse First Boston, working in Singapore and Jakarta before joining Sprott Securities in Toronto. His research has traditionally focused on identifying high-ROE companies. Jason holds a BA from the Royal Military College of Canada and an MBA from Ivey Business School. Jesse Gamble has worked closely with Jason to manage the DKAM Capital Ideas Fund since 2011. Jesse received an MBA from the Ivey Business School at Western University and a B.Sc. degree from the Dyson School of Economics at Cornell University. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:42 - The hidden formula for finding cheap stocks. 07:53 - The secret to spotting a deteriorating moat. 10:45 - How elite investors stay focused in a bear market. 13:37 - The evolution of a winning investment strategy. 27:41 - The untapped goldmine in small-cap stocks. 31:39 - Why the market consistently misprices quality growth. 31:39 - The Rule of 40: your cheat code for finding long-term winners. 36:11 - A playbook for finding 10-bagger stocks. 56:47 - The AI revolution: where the real business impact is happening. 56:47 - Why there’s more cash on the sidelines than ever. And so much more! Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Read DKAM’s Investor Letters here. Listen to my first interview with Jason and Jesse here. Follow Kyle on Twitter and LinkedIn. Email Shawn at shawn@theinvestorspodcast.com to attend our free events in Omaha or visit this page. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter. Check out our We Study Billionaires Starter Packs. Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Hardblock SimpleMining Unchained Onramp Netsuite Found The Bitcoin Way Shopify Fintool Vanta PrizePicks Fundrise TurboTax HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
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  • You're listening to TIP Today's Guests Jason.

  • Donville and Jesse Gamble are a few of the best growth investors that I've encountered.

  • Their firm, Donville Kent Asset Management, has built an incredible track record, beating the S&P 500 since 2008.

  • They've managed to do this through two brutal down cycles in 2008 and 2020, and through changing economic environments, they've consistently identified undervalued growth stocks long before the market catches on.

  • Now I had the chance to interview Jason and Jesse back in 2023 and I took so much away from our first conversation.

  • This time we're going to dive deeper into several investing themes.

  • Over the years they've refined their process, evolving from using systems such as Peter Lynch's PEG ratio to using systems based on return on equity and now using the rule of 40, which is just a very, very powerful tool for spotting fast growing companies with multi bagger potential.

  • We'll also discuss how they navigate the ever changing market landscape, including why the market consistently underprices quality growth st and how they analyze a business's moat by tracking key financial metrics.

  • They'll also break down their stock ranking system, their approach to position sizing, and the geographical differences in stock valuation between the US and Canada.

  • Since Jason is ex military and Jesse is a current professional athlete on top of what he's already doing with Donville Kent Asset Management, I wanted to learn how their backgrounds have helped them develop the resilience needed to thrive in investing, especially during market drawdowns.

  • We'll also explore how they stay engaged during bear markets, why they believe AI is transforming business fundamentals, and how they find the best opportunities in small and mid cap stocks, a space that many investors tend to overlook.

  • I highly respect their ability to just cut through the noise and focus on high conviction investments as well as having high levels of concentration in those investments.

  • Now as holders of Constellation Software since it IPO'd, we'll also talk about their views on why they prefer it over its spin offs Topicus and Lumine.

  • And finally, with money market funds at all time highs, we'll get their take on how and when this massive cash pile might flow back into equities and what that could mean for stock market performance.

  • Now, without further ado, let's get right into this week's episode with Jason Donville and Jesse Gamble.

  • Since 2014 and through more than 180 million downloads, we've 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, Kyle Grieve.

  • Welcome to the Investors Podcast.

  • I'm your host, Kyle Grieve, and today we welcome Jason Donville and Jesse Gamble onto the show.