TIP706: The Founder's Mindset w/ Cristiano Souza

You're listening to TIP. On today's episode, I'm joined by Cristiano Sosa. Cristiano is the founder of Xeno Equity Partners and spent the majority of his career at a firm call 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, Xeno 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 and 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 founders mindset is and why it's so difficult to find. Why Cristiano believes that LVMH has this significant opportunity to continue to grow?

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