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The Intrinsic Value Podcast - The Investors Podcast NetworkAuthor: The Investor's Podcast Network
Presented by The Investors Podcast Network with over 10 million downloads home to the popular We Study Billionaires podcast, The Intrinsic Value Podcast is a new show focused on breaking down businesses, estimating their intrinsic value per share, and deciding whether they should be added to an ongoing portfolio of stocks built out each week. From assessing the monopoly power of Google to determining the fair value of publicly-traded sports franchises, no topics is off limits in the pursuit of understanding as many different businesses as possible and putting together the ultimate long-term stock portfolio. Every week, The Intrinsic Value Podcast will you help get smarter about business, valuation, and investing dont miss out on the journey! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Language: en Genres: Business, Education, Investing Contact email: Get it Feed URL: Get it iTunes ID: Get it Trailer: |
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TIVP066: Valuing Constellation Software's Spinoffs: Topicus, Lumine and co. w/ Daniel Mahncke & Shawn O’Malley
Episode 682
Sunday, 5 April, 2026
Daniel Mahncke and Shawn O'Malley take a deep dive into four companies operating in the shadow of one of the greatest compounders of the last two decades — Constellation Software. Some investors believe that Topicus, Lumine, Sygnity, and Asseco Poland represent the best way to own the CSI model today, while others argue that the spinoffs lack the institutional depth and deal flow of the mother ship. Join Daniel and Shawn as they assess which of these mini-Constellations has the most compelling setup, and whether any of them deserve a spot in the portfolio. IN THIS EPISODE, YOU’LL LEARN: 00:00:00 - Intro 00:01:12 - Why smaller VMS companies are interesting 00:09:23 - How the law of large numbers shifts CSU’s focus 00:11:04 - About Topicus and why it's the closest copy of CSU 00:14:57 - Why VMS is so attractive for acquirers 00:31:13 - Lumine and its focus on the media and communication vertical 00:44:16 - Sygnity and its new chapter 01:03:51 - Asseco Poland and why it might be a the next Topicus 01:11:40 - Whether Shawn and Daniel add a Mini Constellation to the portfolio *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES The Investors Podcast Network is excited to debut a new community known as The Intrinsic Value Community for investors to learn, share ideas, network, and join calls with experts: Sign up for the waitlist(!) Sign up for The Intrinsic Value Newsletter. Learn how to join us in Omaha for the 2026 Berkshire Hathaway shareholder meeting. Track The Intrinsic Value Portfolio. Shawn & Daniel use Fiscal.ai for every company they research — use their referral link to get started with a 15% discount! Outsiders’ Corner Asseco Writeup. Outsider’s Corner Asseco Writeup No.2. Alankrit Capital Sygnity Writeup. Seeking Winners Lumine Writeup. Check out our previous Intrinsic Value breakdowns: Transdigm, Salesforce, Berkshire Hathaway, FICO, PayPal, Uber, Nike, Amazon, Airbnb, Alphabet. Related books mentioned in the podcast. Ad-free episodes on our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Facebook. Browse through all our episodes (complete with transcripts) here. Try Shawn's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Learn how to better start, manage, and grow your business with the best business podcasts. References to any third-party products, services, or advertisers do not constitute endorsements, and The Investor's Podcast Network is not responsible for any claims made by them. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm
