Daniel Mahncke and Shawn O’Malley take a deep dive into Constellation Software — the popular Canadian compounder that has turned buying “boring” vertical market software into one of the most effective capital-allocation machines in public markets. What you’ll learn here: 00:00:00 - Intro 00:03:04 - How Mark Leonard founded Constellation 00:08:14 - What principles drive Mark Leonard 00:14:54 - What Constellation looks for in acquisition targets 00:18:52 - About the metrics that matter to Constellation 00:20:47 - How Constellation is structured and incentivized 00:49:21 - Whether AI is a threat or chance 01:07:41 - Why Constellation considers investing outside of VMS 01:11:41 - Valuation discussion of Constellation 01:20:31 - Whether Shawn and Daniel add Constellation to the portfolio Transcript & Host Info: https://www.theinvestorspodcast.com/intrinsic-value-podcast/constellation-software-csu-historic-drawdown-historic-buying-opportunity-w-daniel-mahncke-shawn-omalley/ 📨 Sign up for The Intrinsic Value Newsletter: https://www.theinvestorspodcast.com/subscribe-youtube/ 🤝 Connect with dedicated, savvy investors who are committed to building wealth alongside you. https://www.theinvestorspodcast.com/intrinsic-value-community/ 📈 Learn how to invest like the legends at https://theinvestorspodcast.com/getstartedwithstocks. Use the discount code “STOCKS15” at checkout. ▶️ Related Episodes: - Valuing Meta (META): Undervalued AI Bet?: https://youtu.be/9ZeC-5la6oU - Chapters Group: Billionaires bet on this potential 100-Bagger: https://youtu.be/24Fr71kKeew - TransDigm Stock Valuation: A Conglomerate of Monopolies: https://youtu.be/CSn3WMN_JVc Listen to our episodes here: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM Visit our website: https://www.theinvestorspodcast.com/intrinsic-value-podcast/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #ConstellationSoftware #CSUStock #VerticalMarketSoftware #CapitalAllocation #CompounderStocks