Applying the Connor Leonard Framework
Value investor Connor Leonard successfully filters business opportunities into four subsets. We explore Reinvestment Moats – entrenched flywheels where management can redeploy capital at high incremental rates of return.
Beneficiaries of under-financed US business
“Discussing how the weak US middle-market business outlook is beneficial for the large alternative asset managers
Scale Economics Shared – Digitally
Nicholas Sleep coined the “scale economics shared” model to identify Costco’s long-term advantages. He later found it had even strong applications to internet retailers, betting big on an “overpriced” Amazon in 2007. In today’s digitally accelerated world his observations are finally being reflected among mainstream investors.
