Sabitlenmiş Tweet
1/ A thread on Sidecar Investing, or “free riding on the superior capability of others” -Richard Zeckhauser
English
Sidecar Investor
6.9K posts
Sidecar Investor
@sidecarcap
Private Investor | World-Class Operators | DMs Open
United States Katılım Aralık 2012
779 Takip Edilen27.1K Takipçiler
Partnering with a truly exceptional CEO is the highest form of leverage.
One decision, with limited downside, can pay off for decades generating life-changing wealth.
And yet as Phil Fisher said, investors spend nearly all their time chasing eighths and quarters.
English
Sidecar Investor retweetledi
This book shows how industrial giants compound for decades.
If you’re betting on industrials, read it.
The TransDigm and Roper profiles are excellent.
The Icahnist@TheIcahnist
Golden Age of Industrial Private Equity Outperforming returns are more likely to come from industrial and hard-asset businesses. The TransDigm playbook is the blueprint.
English
It never stops amazing me that without Bezos taking that first step to launch Amazon, a $2 trillion dollar company simply wouldn’t exist.
English
Sidecar Investor retweetledi
"Publix’s net margins (net income divided by sales) are nearly 7%, against 2% for Kroger."
Disclosure: Publix is private and no position in Kroger.
barrons.com/articles/publi…
English
There’s rarely a single event or red flag that signals a time to sell.
It’s a combination of small things that individually aren’t material, but together, just don’t smell right.
The key is to trust your intuition, even when you can’t fully explain why. It is usually right.
English
Sidecar Investor retweetledi
I was positively surprised after having listened to him in shorter TV-style interviews where he just parroted the official discourse.
He is probably the future leader of $BN (and already current CEO of $BAM)
Shane Parrish@shaneparrish
Connor Teskey is one of the least-known people in asset management. And yet, at 38, he just took over as CEO of Brookfield Asset Management from Bruce Flatt and is now responsible for managing over 1 trillion in assets. Few people have as wide a view of the global economy and what's happening in it as Connor. We discuss: - The lessons he learned working with Bruce Flatt (and where they differ) - His meteoric rise in a highly competitive firm - What's not changing in the global economy - How he isolates variables to de-risk decisions - Why waiting for perfect information is futile - Betting against the crowd and being right - Using AI to increase value, not cut people And so much more. This is Connor's first-ever podcast (and long-form interview for that matter). It's time to listen and Learn.
English
Sidecar Investor retweetledi
Patience is a virtue in most endeavours.
In investing, too much patience can become a liability:
Opportunity cost.
English
Perhaps unconventional opinion:
99% of the time, insider buying and share repurchases are noise. It’s just insiders betting on themselves and few lack confidence.
For 1%, when the company is in truly exceptional hands, it’s a compelling signal.
English
Other than personal observation, I have zero evidence for this:
A small number of companies reach a state of self-reinforcing growth.
It can last far longer than investors expect, sometimes decades.
But when it stops, it stops for good.
English
Sidecar Investor retweetledi
The biggest returns often come from companies that are still building their moats.
This opportunity will persist because humans are uncomfortable with uncertainty and institutions are usually driven by career risk.
An investor who escapes these dynamics has a huge advantage.
English
One paradox: the best operators are intentionally hard to find because they already have a small number of like-minded partners and don’t need your capital.
English
My early career had a chapter as an investment consultant, flying around the country meeting with fund managers of all stripes. It was an unexpected education on the performance cycle of different investment strategies.
A few things stood out.
Most funds will only be successful for one bull market. Being paid handsomely to invest a specific way makes it almost impossible to adapt and when there’s a regime change, the fund is left behind.
And perhaps more importantly, when the industry is holding conferences dedicated to an investment style/approach, the best days are almost certainly behind it.
I’ll stop short of naming today’s “it” strategy. But if the suggestion makes investors uncomfortable, it’s even more likely to be true.
English
With the click of a button you can hire some of the smartest business operators to work for you.
They do all the work yet you have the *opportunity* to get rich.
This should not be legal.
English
A lot of investing success comes down to playing offense when others are playing defense and vice-versa.
Now is the time to play offense.
English
Even great companies are excruciating to hold.
Since its IPO, Amazon $AMZN made an all-time high on ~7% of trading days, tempting investors to sell.
It also traded at least 20% below its all-time high on 45% of trading days, making it easy to regret not selling.
Now do the same exercise for a less spectacular company.
And that’s why few investors get rich.
English
Is this just me?
95% of my mental energy is used up by 30% of my stocks.
There’s a good chance the portfolio would be better off if I sold them and concentrated in the others.
English
@MoS_Investing Who, despite being in your life only briefly, had the greatest impact on you?
English
What’s the best question you’ve ever been asked?
English
A rising stock makes a CEO look brilliant. A falling stock makes them look stupid. The truth is usually somewhere in the middle.
English
Bezos. Buffett. Flatt. Greenblatt. Hennick. Leonard. Lynch. Malone. Rales. Zell.
The greatest operators and investors were originals.
Partnering with imitators will lead to disappointing results.
It has to be this way.
English