Brinton Johns

Hypothesis: The hallmark of disruption is an intense focus on vertical integration.

@AnalysisOp @JRogrow @bradsling @jbathgate @joe_furmanski @NZSCapital Uh, no.

@JRogrow @bjohns3 @bradsling @jbathgate @joe_furmanski @NZSCapital Basically he's saying "buy low and with margin of safety" but with a lot of words 😂👍

The future is unpredictable so build cheap optionality into your port. The article below is excellent. And if you enjoy it, I highly recommend "Complexity Investing" and "Redefining Margin of Safety" by @bjohns3 @bradsling @jbathgate and @joe_furmanski from @NZSCapital ...

Getting excited. . .

#BM100 #smalleuropeanwoman amazing

History was made at the 2024 edition of the Barkley Marathons! Jasmin Paris became the first woman to ever finish the event, and a record-breaking five runners finished. irunfar.com/2024-barkley-m…

It's earnings season, the sun is out and it's 60 degrees. Time for the investors @NZSCapital to take a hike!

How to Have Meetings that Don't Suck...A new paper from @bjohns3 Learn why we ♥️ to have meetings at NZS! There are some simple suggestions everyone can implement along with some uncomfortable concepts that might require a culture shift at your org. nzscapital.com/news/meetings

Interviews with NZS investors including recent posts from @blarsonbrf on Trane from @bizbreakdowns and @jbathgate discussing the chip industry can be found here: nzscapital.com/media/recent-i…

Trane Technologies? This company embodies the irresistible allure of industrial pureplays Thank you to Brett Larson and @NZSCapital for bringing this one to @bizbreakdowns ▫️ $50bn market cap (TT) yet rarely discussed ▫️ 100+ year history of between independence and "conglomeration"(Ingersol) ▫️ Epic father + son founder combo with James and Reuben Trane ▫️ Textbook equipment vs. aftermarket mix-shift story (~70%/30%) ▫️ Resi vs. Commercial segments highlights unique demand dynamics ▫️ Customer cost is split: 10% equipment, 10% maintenance, 80% energy costs (...think about how that drives pricing vs product considerations) ▫️ Secular opportunities (decarbonization) in what you'd assume is a cyclical industry ▫️ Operating system comes with Toyota DNA and 25% incrementals BONUS points: 👁‍🗨Rebranding HVAC as "climate control" is worth a 20% premium. No questions asked 👁‍🗨Reuben started career at Milwaukee Tools in 1910... fun to think about the "resume building corporations" of yesteryear

Getting excited. .

@tom_morganKCP Ergodicity

What important financial concept is the most widely misunderstood?

@JRogrow @jbathgate @srasgon is the 🐐

@jbathgate @bjohns3

Feels a little weird to read this from our June 2020 op-ed and see it essentially finally happening today, with some help from the government. The Apple issue seems especially true more than ever. In many ways this was, and still is, inevitable. marketwatch.com/story/a-semico…

This is a paradigm shift in the way companies have done business since Deng Xiaoping first made Shenzhen a Special Economic Zone back in 1980. This is a MASSIVE prediction where the range of outcomes seem to be narrowing.

I don't have any judgement about this, I'm just trying to clarify the observation. What I, and everyone else, thought of as "resilient" is now fragile. And what was fragile, ie, not optimizing for maximum efficiency, is now resilient.

For 99% of my investing career supply chain "resilience" meant optimizing for efficiency. "Resilience" now means optimizing for geopolitical risks, ie. sustainability or longevity. This means the world will get less efficient, less homogenous and more diversified.

@bradsling One of the best movies ever!

"Dated slapstick comedy-horror mix is silly but stale" might be an accurate description of me, but it seriously insults the genius of this movie. For my money you can't beat the Hanks comedic trifecta of Big - The 'Burbs - Joe vs. the Volcano.

List of people with zero proven track record of predicting the future of the economy: -Fed employees -Venture capitalists -Public market investors -CEOs -Economists -Approximately all 8B people on planet Earth nzscapital.com/sitalweek/rede…

@JRogrow Traditional auto makers

@bjohns3 Brinton, could you share an example of a company or industry that you think is stuck in the middle? Thank you

The NZS Capital investment team joined @gilbert and @djrosent and the @AcquiredFM audience to talk Complexity Investing: youtube.com/watch?v=zc6BJ-…