Nick Sleep

Nick Sleep is the investor behind the Nomad Investment Partnership, whose shareholder letters circulate as a long-term investing text. A saved tweet describes him as having achieved 921% returns while the market made 117%, retiring at 45 after making investors $2 billion, and refusing interviews and new money.

The letters. One saved thread collects extracts from all 245 pages of the Nomad letters, organized into ten themes; the first is patience and long-term thinking. The surviving extracts include “Good investing is a minority sport, which means that in order to earn returns better than everyone else we need to be doing things different to the crowd. And one of the things the crowd is not, is patient,” and the claim that “Business outcomes can be more predictable several years out than they are in the near term.” Sleep contrasts peers trading “at the short end of the equity yield curve where the competition is the greatest” with investing “at the long end where competition is the least.” The Nomad shareholder letters also appear in a list of four PDFs one writer considers essential investor reading.

His reading list. A saved list titled “8 books Nick Sleep has told people to read” names Influence, Titan, Where Are the Customers’ Yachts?, Zen and the Art of Motorcycle Maintenance, Richer, Wiser, Happier, The Origin of Species, Outside Lies Magic and The Paradox of Choice; each is carded in the anti-library.

Where he sits in the wiki. His long-hold, concentrated approach is filed as a case study in Capital Allocation and Compounding, and the 921% tweet ties it to finding 100-Baggers.

Where this appears

• Tweets: This Man Achieved 921% Returns… (tweet), Finally Finished Reading Nick Sleep’s… (tweet), 8 books Nick Sleep has… (tweet), 4 PDF’s That I Consider… (tweet)
• Concepts: Compounding
• Books to read: Richer, Wiser, Happier, Influence, Titan, Where Are the Customers’ Yachts?, Zen and the Art of Motorcycle Maintenance, The Origin of Species, Outside Lies Magic, The Paradox of Choice