Nick Sleep's Three-Stock Portfolio
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Shaan shares a story about an incredibly successful but lesser-known investor named Nick Sleep.
"Nick Sleep and his buddy started buying stocks and investing on behalf of other people. They did so well over a 10-15 year period that they ended up retiring. His portfolio at the end was just Amazon, Costco, and Berkshire Hathaway - he had 3 stocks by the end.
I love somebody who can absolutely crush the market and did it without working really hard or going into some obscure rabbit hole. He just identified correctly early on that Amazon, Costco, and Berkshire were good bets to be in and stayed with those, rode those ponies till the end.
The fascinating thing is he wrote annual letters documenting his investment journey. When I did the podcast with Monish Pabrai, he mentioned Nick Sleep. I don't know the full story, I just started looking because I found like 10 years of this guy's annual letters. But these guys got filthy rich in a very short period of time by focusing on just those three companies."
Shaan Puri
Host of MFM
Shaan Puri is the Chairman and Co-Founder of The Milk Road. He previously worked at Twitch as a Senior Director of Product, Mobile Gaming, and Emerging Markets. He also attended Duke University.