Nomad Letters

The Full Collection of the Nomad Investment Partnership Letters to Partners, 20012014

Inbunden, Engelska, 2026

469 kr

Kommande

A master class in long-term investing and rational thinking from two of the most celebrated investors of the 21st century.Between 2001 and 2014, amid gale-force global economic headwinds, Nick Sleep and Qais Zakaria’s Nomad Investment Partnership dramatically outperformed the market—and their biannual Letters to Partners earned cult status as some of the most clear-headed writing on investing and deciphering market forces.Nomad Letters is the first compilation of these letters in print, sharing the enduring insights of two of the sharpest minds in value investing. Featuring a new prologue by Nick Sleep and a foreword by Stripe cofounder and president John Collison, Nomad Letters details the investment philosophy behind Sleep and Zakaria’s success—an approach that favors patience, conviction, and dedication to long-term competitive advantage over short-term returns. It includes Sleep’s reflections on the pioneering concept of “scale economics shared,” embodied in Nomad’s longtime investments in Costco and Amazon, and on the pair’s profound commitment to long-term thinking, never following the herd, and pursuing a meaningful life beyond wealth accumulation.Not only a blueprint for investors, Nomad Letters is essential reading for anyone seeking to build long-lasting businesses, understand market dynamics, and see the world more clearly.

Produktinformation

Utgivningsdatum2026-12-01
Mått152 x 228 x 20 mm
Vikt504 g
FormatInbunden
SpråkEngelska
SerieStripe Press
Antal sidor376
FörlagStripe Matter Inc
MedarbetareJohn Collison
ISBN9781953953599

Tillhör följande kategorier

Finansiering inom Ekonomi och Ledarskap
Affärsstrategi inom Ekonomi och Ledarskap
Privatekonomi inom Ekonomi och Ledarskap

ForewordPrologue: The Ninth Wonder of the WorldPreamble2001 Annual Letter: Initial investments, International Speedway, and Matchion2002 Interim Letter: “A little wonderful advice,” Xerox, and MonsantoAnnual Letter: Decline in market price, Stagecoach, and Costco Wholesale2003Interim Letter: “Diworsification,” Weetabix, and Lucent TechnologiesAnnual Letter: Accounting for performance, partnership growth, and Weetabix 2004Interim Letter: Partnership governance, Union Cement, and overdiversificationAnnual Letter: Growth and value, why we think what we think, and Costco Wholesale2005Interim Letter: Competitive advantage, the robustness ratio, and ZimbabweAnnual Letter: The principal–agent conflict, competitive advantage, and investor misjudgements2006Interim Letter: Handover from Marathon, Blenkinsopp, and what non-transitive dice teach about investingAnnual Letter: The index is not the benchmark, Amazon, and why problems go unsolved2007Interim Letter: Scaling laws, short-term result volatility, and the deep reality of the marketsAnnual Letter: How we think about mistakes, mistakes in the making, and focusing on what we control2008Interim Letter: AirAsia, Games Workshop, and MBIAAnnual Letter: The price-to-value ratio, the power of incentives, and Zimbabwe2009Interim Letter: A quieter approach, weighing the information, and overdiversificationAnnual Letter: Locker-room culture, doing what is right, and character as a way of reducing investment risk2010Interim Letter: Comparative advantages, Costco, and Amazon Annual Letter: Investment spending by Nomad’s businesses, implications for long-term investors, and Cigar Butts Anonymous 2011Interim Letter: Mental shortcuts, the models we use, and the principal–agent problemAnnual Letter: The real risks to a business, Black Arrow, and a word on education2012Interim Letter: Information as food, the Darwin approach, and our management feeAnnual Letter: Carpetright, Zak’s family’s activity center, and firms that watch the pennies2013Interim Letter: A different take on incentives, the Sisypheans, and inactivity as a source of value addedAnnual Letter: Regulation, Zimbabwe, and a final note on psychologyPostambleEndnotesIndexAbout Nomad LettersAbout the Authors