Start With Why
“People don’t buy what you do; they buy why you do it.” Simon Sinek repeats this phrase multiple times in his book Start with Why and his popular TED Talk How Great Leaders Inspire Action. Every person knows what they do, but very few people know the deeper meaning of why they do it. The ultimate goal is to do business with people who believe what you believe and the only way to ensure this is to start with why.
Throughout the book, Simon Sinek shares stories and lessons to help others do work that inspires them. Sinek emphasizes the Golden Circle concept which is based on the biology of human decision-making.
There are leaders and there are those who lead. Leaders hold a power of authority over others whereas those who lead inspire us. We follow those who lead not because we have to, but because we want to. It is those who start with why that have the ability to lead and inspire those around them.
Your why is who you are no matter what you do or where you go and is applicable in every aspect of your life. Finding your why will restore your passion allowing you to live a happier life.
So, what is your purpose? What is your cause? What makes you wake up in the morning and why should people care? That is your story to tell and it all starts with why.
Masterclass in Valuation
While attempting to calculate intrinsic value, some of the most well-regarded portfolio managers prefer simple models over the complex financial models utilized by many investment bankers. Warren Buffett once said, “I would rather be vaguely right, than precisely wrong” when projecting the future cash flows of a business. Chris Bloomstran, President and Chief Investment Officer of Semper Augustus Investments Group LLC, heeded Buffett’s advice when analyzing the Oracle of Omaha’s company itself. Bloomstran took to the sum of parts approach by breaking Berkshire down into four predominant segments: insurance, energy, railroads, and the equity portfolio. Throughout the video, Bloomstran offers invaluable insights regarding his assumptions and thought process when normalizing Berkshire’s earnings power.
For more, you can read Chris’ 2020 Client Letter, or check out our chat with him discussing the Berkshire Hathaway Annual Meeting.
Congrats Sam!
Congratulations to Sam DiFiore for graduating from Coastal Carolina University! Sam is a valuable member of the Co/Investor Club team.
Sam DiFiore is a Research Analyst for Avenel Financial Group and the Co/Investor Club. Sam is a Massachusetts native and recent graduate of Coastal Carolina University with a degree in Finance and Commercial and Investment Real Estate. Sam served as the President of Coastal Carolina University’s Finance Club. He was selected as 1 of 8 members chosen to be in the Wall Fellows Class of 2021, an exclusive rigorous business program. Sam worked on the recruitment staff and in data analysis for Coastal Carolina Football from 2017-2020. He interned in Communications with the Boston Bruins, was an Account Management Intern for ALKU, Marketing Intern for Home Shop Properties and a Sales Assistant for Select Technology.
See some of Sam’s work below.
Investor Disposition
Membership Site
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Hayden Capital’s 1st Quarter Letter to Investors
Michael Mauboussin’s latest report: The Economics of Customer Businesses
Podcasts
Joel Greenblatt on The Knowledge Project Podcast
Brent Beshore - Learnings from a Year of Unexpected Events
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!
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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