Connor Leonard

[Arbour National @ArbourNational]

We are excited to welcome Rebecca to the Arbour Specialty team

https://t.co/NrSsW7taM8

[Connor Leonard @Connor_Leonard]

@AltaFoxCapital The 3-part "Origins" podcast series on Saban and Bama is an excellent listen on how they built the program: https://t.co/IaH2nyJifr

[Sidecar Investor @sidecarcap]

This tag team piece by @Connor_Leonard and @JohnHuber72 is by far the best capital reinvestment discussion I’ve read.
https://t.co/7pRTgms3eK

[Connor Leonard @Connor_Leonard]

@BPD1776 @mhp_guy @MainStSummit The story was from decades ago and used more to illustrate the entrepreneurial spirit that comes when employees are co-owners. That specific tactic is no longer used, but shows that everyone on the team can search for opportunities to make the business better.

[Connor Leonard @Connor_Leonard]

@F_Compounders Good summary and your examples are spot on 👍

[Connor Leonard @Connor_Leonard]

More on Arnault from new WSJ profile:

Instead of thinking about profitability, Mr. Arnault urges his executives to think about desirability. “When you create desire, profits are a consequence”

https://t.co/fcmSc7zDUB

[Connor Leonard @Connor_Leonard]

This discussion with Bernard Arnault from 20 years ago is full of wisdom on brands, creativity and innovation. Any other articles/interviews/posts from many years ago that you find just as relevant today?

https://t.co/FojAJa372E

[Connor Leonard @Connor_Leonard]

The clear distinction between how they run the design vs. manufacturing side of the business:

[Connor Leonard @Connor_Leonard]

@Peak_Ado @chriswmayer Original original source (2019):

[Connor Leonard @Connor_Leonard]

Capital allocation is an underappreciated skill for both operators and investors that can have massive impacts. We believe it requires a framework, not a rulebook: https://t.co/ypCJdP9Acf

[Arbour National @ArbourNational]

We recently had the opportunity to share frameworks on Capital Allocation with MBA students at UNC Kenan-Flagler: https://t.co/V7B0lO7rhv

[Connor Leonard @Connor_Leonard]

@BrentBeshore Excited for you! Here are a few suggestions that I spent way too much time on:

[Connor Leonard @Connor_Leonard]

@DeepSailCapital Protector in Norway. Clearly articulated cap allocation framework in investor decks. Well timed, bold share repurchases. Flexible dividend policy. Prescient open market purchases by mgmt/board. Truly an outlier in European mkts

[Connor Leonard @Connor_Leonard]

@PandaValue @JohnHuber72 does a great job of this. We always joke that his sweet spot is the 2014 Patriots. After a brutal loss to KC the media was signaling the end of the dynasty. Turns out the proven champs were just in a rough patch, and they went on to win 3 more super bowls

[Connor Leonard @Connor_Leonard]

Incremental ROIC >>>>> historical ROIC

https://t.co/hngojGOcP3
https://t.co/mh59gHQoNX

[MT Capital @MT_Capital1]

Aswath Damodaran on the downfalls of the ROIC metric

[Connor Leonard @Connor_Leonard]

@FocusedCompound The Gaughen's are good people who have built a fantastic business the right way 👍

[Connor Leonard @Connor_Leonard]

@BillBrewsterTBB

[Connor Leonard @Connor_Leonard]

@MylesDanielsen This is our setup and we don't. With long duration capital, it's better to be aligned with the asymmetry that comes from working with great people/companies

[Connor Leonard @Connor_Leonard]

From the fantastic book "Legacy" by James Kerr which details the enduring culture of the New Zealand All Blacks rugby team: https://t.co/u0Fp4e0D8I

[Connor Leonard @Connor_Leonard]

“Champions do extra - there are no crowds lining the extra mile. On the extra mile, we are on our own: just us and the road, just us and the blank sheet of paper, just us and the challenge we’ve set ourself. It’s the work we do behind closed doors that makes the difference"