ENG 109/ Constellation Software Stock Market Anomaly - Value Investing great business at a low price

As of early 2026, Constellation Software (TSX: CSU) is a rare case study for value investors. Often called the "Berkshire Hathaway of Software," it has seen a historic 40–50% drawdown in its share price over the past few months. This massive dip is being driven by a combination of "AI panic" and the departure of legendary founder Mark Leonard—creating what many see as a generational "anomaly" for a business that has historically compounded capital at over 20% annually.