Welcome to the Co/Report
You can expect weekly investment news, insight and ideas. If you have investment opportunities, please share them with us at mp@coinvestorclub.com and visit our website for more info.
White Paper
Lawrence A. Cunningham discussed the makeup of the modern shareholder group in his recent book “Quality Shareholders.” In this paper we briefly discuss the primary takeaways and applications of the concepts in this book and the advantages inherent in the active cultivation of a quality, engaged shareholder cohort. The insights in Cunningham’s book are impactful and may illuminate new strategies for evaluating a firms management.
Quality Shareholders
“Managers get the shareholders they deserve” - Lawrence Cunningham
Click here to download Quality Shareholders PDF
Quality Investor Highlight: Sequoia Fund
Sequoia Fund, a long-term equity fund, has exceeded in the stock market by investing in quality businesses for 50 years. Built on basic principles of value investing by two expert investors Bill Ruane and Rick Cunniff, Sequoia Fund extensively researches to buy high-quality fast-growing businesses for attractive prices which over the long term earn a higher return. Sequoia Fund has a superior track record focusing on domestic mid-large capitalization companies. Their philosophy is to “invest with an unusually long-term perspective moving them from the realm of unpredictable to the realm of understandable.” Ruane, Cunniff & Goldfarb express their gratitude and display their quest for investment management excellence in their Q4 2020 Investor Letter.
If you want to learn more about Ruane, Cunniff & Goldfarb and how they manage capital, be sure to check out the yearly Investor Day Transcripts on their website. Or if you really want to go back and see how Sequoia Fund managed the difficult and inflationary environment of the 1970s and early 1980s, when Bill Ruane and Richard Cunniff were managing the fund, check out THIS collection of letters from that timeframe.
Investor Letters
It’s that time of year when investors and fund managers are publishing their Q4 and 2020 year-end letters. Here were some of our favorites so far:
Giverny Capital Asset Management 2020 Letter
Horizon Kinetics Q4 2020 Commentary
Bronte Capital December 2020 Letter
Exclusive Opportunities
Upgrade to Co/Investor Club Premium Membership for only $100 annually to access investment opportunities and deal flow. Click the button to see a full list of Premium Membership benefits.
In Case You Missed It…
TransWorld Holdings Inc. Name Changes to Charge Enterprises, Inc.
Podcast Highlight
Intelligent Investing Podcast with Brian Balbirnie CEO/Founder of Issuer Direct https://overcast.fm/+IWllyQ8EA
Paul Singer makes a rare appearance, on The Grant Williams Podcasthttps://overcast.fm/+aAHsAlTTo
Capital Allocators with Ted Seides and Collette Chilton https://capitalallocatorspodcast.com/2021/01/24/chilton/
A Bit of Optimisim with Simon Sinek and Ric Elias https://podcasts.apple.com/us/podcast/a-bit-of-optimism/id1515385282?i=1000502434417
If you have not already upgraded your membership…
Avenel Financial Group, a merchant banking and advisory firm located in Charlotte, NC launched a new business venture called the Co/Investor Club. The Co/Investor Club is a community of value-oriented investors that collaborate on investment opportunities and ideas. You are receiving this newsletter because you are a Free or Premium Member of the Co/Investor Club!
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