2025-03-14
1 小时 9 分钟You're listening to tip.
On today's episode, I'm joined by Cristiano Souza.
Cristiano is the founder of Zeno Equity Partners and spent the majority of his career at a firm called Dynamo, which is based in Brazil.
From 1994 through 2015, he was on the team that managed the Dynamo Cougar Fund which invested in high quality equities in Brazil.
During that time, the fund compounded at 24% per year in US dollar terms.
In 2022, Cristiano started his own firm, Zeno Equity Partners, which primarily invests in North America and Europe and has compounded at 19% per year since the fund's inception, which is in line with the return of the S&P 500.
Brazil has gone through a number of periods of economic turmoil which to Cristiano taught him the importance of a business's resiliency and willingness to be opportunistic during the difficult times.
Given that Cristiano runs a concentrated investment strategy, he also learned the importance of risk management in minimizing the chance of permanent capital loss for every investment he makes.
During this conversation, we discussed the three things that Cristiano looks for in a business.
What the founder's mindset is and why it's so difficult to find, why Cristiano believes that LVMH has a significant opportunity to continue to grow, the mistakes Cristiano has made in assessing management teams, why Lindy PLC is a core position in his fund, why Appfolio is well positioned to continue growing in the property management space and much more.
With that, I bring you today's episode with Cristiano Souza.
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, Play Fink.
Welcome to the Investors Podcast.
I'm your host, Clay Fink and today I'm happy to welcome Cristiano Souza.
Cristiano, thanks so much for joining me here today.
It's a pleasure to be here.
Thanks for the invite.
I've been really excited to chat with.