Wishing you a season filled with joy, growth and abundant opportunities!
Today, we are highlighting Apokar Investment Group, LLC, an innovative investment platform that merges the strategic depth of search funds with the dynamic potential of startup incubation, designed to unlock unparalleled growth and returns.
Invitation to Co-Invest:
We believe the diverse strengths of family offices, private equity, and venture capital can magnify Apokar's impact. We’re extending an exclusive invitation to the Co/Investor Club to explore this unique opportunity, where strategic capital meets innovative execution, with Apokar’s world-class operating team.
Why Consider Apokar?
Innovative Model: Merging search fund stability with startup growth potential.
Targeted High Returns: Focused on sectors with disruption potential.
Transparent Partnership: Committed to honesty and mutual success with our investors.
Why Engage?
Diversified Portfolio: Leverage a balanced mix of stability and growth.
Strategic Synergies: Benefit from shared insights and network amplification.
Efficient Capital Deployment: Invest in vetted, high-potential ventures with a clear path to returns.
We’re excited about the potential of combining our strengths to create significant value and lasting impact. If the prospect of joining forces with Apokar aligns with your investment strategy, we would be honored to delve deeper into how we can collectively transform the investment landscape.
Reach out directly to Apokar’s Managing Partner, John Wiesehan III at john@apokar.com for more information.
Low Expectations
“The first rule of a happy life is low expectations. [With] unrealistic expectations, you’re going to be miserable.” —Charlie Munger
Stock markets closed out a holiday-shortened week at or near record highs, and had their best opening quarter in five years. The S&P 500 was up 10.2% during Q1, and the Nasdaq rose 9.1% during the quarter.
Last week, the world also lost one of the giants in the field of behavioral economics with the passing of Daniel Kahneman. Josh Wolfe, an investor and venture capitalist who became friends with Kahneman, recounted some great stories about the late psychologist on X, and mentioned that Kahneman “knew the secret of happiness was low expectations.”
That’s something we’ve heard Charlie Munger talk about plenty of times over the years. And it’s also similar to something Jensen Huang, Co-Founder and CEO of Nvidia, said in a recent talk at Stanford:
“One of my great advantages is that I have very low expectations.... People with very high expectations have very low resilience. And, unfortunately, resilience matters in success. I don’t know how to teach it to you—except for I hope suffering happens to you.... Greatness is not intelligence. Greatness comes from character. And character isn’t formed out of smart people. It’s formed out of people who suffered.”
With markets off to a blistering start in 2024, after a strong 2023, investors seem to have high expectations about the stock market and the economy for the rest of the year.
And maybe that’s right, or maybe it’s not. We don’t know. Markets are fickle and tend to punish (eventually) those who try to predict too much.
But we can take advice from the likes of Munger, Kahneman, and Huang and keep our expectations low, in whatever manner that entails, based on your portfolio positioning.
If you’re wrong in having those low expectations, maybe you’ll have made more money—not a bad outcome. But if you’re right, you can muddle through, be resilient, and make it to better days.
“Charlie [Munger] has said the most important thing in selecting a marriage partner is that you don’t look for intelligence or humor or character. He says you look for someone with low expectations.” —Warren Buffett
Tweets of the Week
In Case You Missed it…
The Psychologist Who Turned the Investing World on Its Head
But We Are Long-Term Investors - by Ian Cassel
Value Investing, Inflation and Expected Returns with Rob Arnott (video)
Invest Like the Best Podcast: Sean Feeney - Reinventing the Restaurant Business
A Bit of Optimism Podcast: The Anxious Generation with social psychologist Jonathan Haidt
If you have not already upgraded your membership…
Avenel Financial Group, a merchant banking and advisory firm located in Charlotte, NC, launched a 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!
Chat with Mike
Whether you’re an executive with investment opportunities or a college student looking to network, we would love to chat with you! Email our Founder, Mike Pruitt, at mp@coinvestorclub.com with questions and ideas or schedule a meeting.
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