www.mfp.co.in
The Infant Learner
Some stuff I read this week:
A. This week’s Special:- Capital Light Compounders & Reinvestment Moats, with Connor Leonard
Connor Leonard is the Public Securities Manager at Investors Management Corporation (IMC), a privately owned North Carolina-based holding company that launched the Golden Corral restaurant brand in 1973. As the Golden Corral concept grew into a casual dining powerhouse with $1.7 billion in annual system sales, IMC diversified by acquiring other businesses through a Berkshire Hathaway-inspired holding company structure.
Connor extends this mission into the public markets, running a highly concentrated portfolio utilizing the internal capital of IMC. Connor divides the world of great companies into “Legacy Moats” and “Reinvestment Moats”, with the latter being able to deploy incremental capital at high rates for many years to come. Connor seeks to maximize returns for IMC by identifying “Reinvestment Moats” trading at discounts in the public markets and owning the businesses for the long-term.
Recently he was interviewed at investorfieldguide.com. Click the link given below to listen to the interview:
B. Entrepreneurial Diary
C. Other Stories
Leonardo’s Principles ( LI )
Buffett On Zero Coupon Bond ( FP )
Productivity Tools for investors ( PP )
The stock market’s problem of riches ( HL )
Building A Career In Investing The Right Way ( YT )
Josh Tarasoff – Two Biggest Lessons Learned ( MC )
Value Investor John Huber Reveals His Secrets ( FS )
Growth Investing Has To Go Beyond The Obvious ( LM )
Spin Gold From Spinoffs: A Portfolio Of 5 Castoffs Trounces The S&P 500 ( MP )
Here’s the Strategy Elite Athletes Follow to Perform at the Highest Level ( JT )
“I read everything: annual reports, 10k’s, 10q’s, biographies, histories, five newspapers a day. On airplanes, I read the instructions on the backs of seats. Reading is key. Reading has made me rich over time” – Warren Buffett
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you” – Charlie Munger
You have to apply yourself each day to becoming a little better. By applying yourself to the task of becoming a little better each and every day over a period of time, you will become a lot better”- Carol Dweck