TRUMP X KAMALA: WHAT ARE THE IMPACTS ON THE WORLD? In a free online event, we will talk about tensions with China, wars, repercussions in Brazil and opportunities/risks of investing in stocks and crypto assets that open up with the US elections. Sign up for free: https://lp.seudinheiro.com/eleicoes-a... What is the secret behind an average return of 29% per year, for 9 consecutive years? In episode 138 of Market Makers, we had the privilege of interviewing Rafael Maisonnave, partner and manager of the TARPON GT FIC FIA fund, one of the biggest names in the Brazilian financial market. Rafael shared his investment philosophy and strategy that led him to this impressive performance. Maisonnave detailed his long-term vision, in the choice of assets and his way of seeing the market. During the conversation, Rafael also revealed his two main positions Wilson Sons (PORT3) and Fras-le (FRAS3). You will understand why he maintains his confidence in these stocks and how these investments align with his portfolio management strategy. Do these companies still have the potential to continue growing? He details why he believes so and what investors should watch out for going forward. If you are looking to learn from a high-performance manager and want to know how to take advantage of market opportunities with a clear and disciplined vision, this video is for you. Subscribe to the channel and turn on notifications so you don't miss more interviews and in-depth analyses like this one! 00:00:00 - Opening 00:02:02 - Introduction 00:03:09 - Guest Introduction 00:06:35 - Rafael Maisonnave's Story 00:13:46 - Experience as a Company Director 00:20:31 - Investing in 'Boring' Companies 00:29:31 - Capital Allocation and Best Ideas 00:33:15 - Importance of the Human Factor in Investments 00:33:54 - Smiles' Thesis (SMLS3) 00:38:31 - Learning and Opinion Evolution 00:42:26 - Competence Cycle and Comfort Zone 00:46:09 - Investment Process and Entry Barrier 00:54:21 - Investment Cycle and Liquidity 00:54:52 - Investment Sectors and Theses 01:00:59 - Discussion on Market Competition 01:01:19 - Analysis of the Brakes and Shock Absorbers Sector 01:02:14 - Importance of Quality and Safety in Products 01:03:49 - Fras-le's Thesis (FRAS3) 01:17:51 - Investment Philosophy and Performance Analysis 01:19:54 - Discussion on Valuation and Capital Allocation 01:25:47 - Criteria for Divestment 01:32:03 - Analysis of the IPO Market 01:36:28 - Importance of Admitting and Correcting Mistakes 01:43:10 - Analysis of Wilson Sons (PORT3) 01:51:21 - The investment thesis in Mills (MILS3) 02:03:18 - Perspective on Investing in Commodities 02:11:06 - Ping Pong: Book and Music Recommendations 02:15:24 - Guest Suggestion for the Podcast 02:19:02 - Acknowledgements and Closing - - - - - - - - The investment strategy that earned you 29% per year (in the last 9 years) Market Makers #138 Presented by: Matheus Soares (@maatssoares) and Alexandre Assaf (Manager and member of the M3 Club) Guest: Rafael Maisonnave, partner and manager at Tarpon Edited by: Bianca Barsotti and Lucas Zanardo