Andrew McDonald might be the most quotable guest we've had on. Guilty criminals who go free, bluebirds of happiness, a sex-drive analogy.
His core argument: hold good assets longer than the industry default. Deals are hard to find, hard to close, hard to staff. Clear all 3 and get a good business, why rush to sell it? Instead, wait for a "bluebird event": multiples spike, or a strategic needs exactly what you have. Meanwhile, compounding does the work.
Fourco's first deal proved it out: an 11-year hold that just closed north of 10x MOIC, no hockey-stick story, just a steady business modestly accelerated.Same logic for the firm itself. Fourco could raise an institutional fund and hasn't. Andrew optimizes for freedom, not just wealth, quoting Munger on it.
Also, his portfolio is fireworks, drones, confetti, and workwear.
Check this week's episode of the Minds Capital Podcast on Spotify, Apple Podcasts, YouTube, or via our website.
