Deferred Gratification
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Intern Spotlight: Shelbi Ankiewicz
Shelbi Ankiewicz is a BA Communication major at Coastal Carolina University. She is a member of the Wall Fellows Program that highlights business leadership and professional development. She will serve as the Editor in Chief for the Chanticleer Newspaper this upcoming year and will continue her role as Secretary of the Student Veterans Association. Shelbi is excited to develop her writing and marketing skills this summer through her internship with Avenel Financial Group and Co/Investor Club.
Thank you to our Premium Members who help make our summer paid internships possible! If you’re not a Premium Member yet, upgrade here for just $100. Not only will you receive valuable investment insights, but you will also be supporting interns and college graduates to launch their careers.
Tribute to Gina Cummings
The Co/Investor Club lost an incredible supporter, friend, mentor and leader this week. Please join us in honoring Ms. Gina Cummings by reading our tribute to her.
Message from a Premium Member
Deferred Gratification
Nick Sleep was one of the investors profiled in William Green’s new book, Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life. In the chapter on Sleep and his business partner, Qais Zakaria, there is some advice from Sleep worth thinking about over and over again:
It’s all about deferred gratification. When you look at all the mistakes you make in life, private and professional, it’s almost always because you reached for some short-term fix or some short-term high…. And that’s the overwhelming habit of people in the stock market.
Whether it’s the stocks you allow in your portfolio, or the people you bring into your life, focusing on the businesses and relationships that can last a long time—and get better over time—leads to fewer mistakes, more profitable investments, and a more fulfilling way to go through your investing and personal life.
“A life can only be understood backwards, but it must be lived forwards”. —Soren Kierkegaard
When you invest in a business, ask yourself: Is this a business and management team that I can be partners with for 5-10 years, or longer? While we all have plenty of investments that seem obvious in hindsight, both good and bad, trying to picture the end game before diving into something may help us make fewer mistakes, and cultivate the kind of deferred gratification that is most rewarding.
In Case You Missed it…
Berkshire Hathaway Annual Shareholders Meeting 2021
Horizon Kinetics Q1 Commentary
Connor Haley on Small-Cap Investing and Standing Up for Owner Rights
The Century Club - by Chris Mayer
Podcasts
Brian Bares on the Capital Allocators Podcast (Bares is also the author of one of our favorite books on small-cap investing: The Small-Cap Advantage)
Sam Zell on What Commercial Real Estate’s Rebound Could Look Like
Business Breakdowns Podcast: Twilio: Messaging, Margins, and Markets
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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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