Felipe Nunes

Fundador do CFC Academy. Especialista em certificações do Conselho Federal de Contabilidade.

[Felipe Nunes @cfcacademybr]

https://t.co/6Jx8YRpVhb

[Felipe Nunes @cfcacademybr]

@nonoinvestidor quem indicou mandou aquele link de afiliado tb? padrão insider?

tirando a resenha, acredito que revolut e esse aqui que recebo as esmolas do YouTube: https://t.co/PLummZTcos sejam as melhores opções. Inter tb é uma boa.

[Felipe Nunes @cfcacademybr]

@nonoinvestidor @ZAMENZA kkkkkk

[Felipe Nunes @cfcacademybr]

@nonoinvestidor @ZAMENZA cara, quando neymar entrou em campo galera nos bares ao redor de minha casa gritou que parecia gol. ate achei q fosse gol por conta do delay na cazetv.

[Felipe Nunes @cfcacademybr]

rapaz quem vai gostar de assistir isso aqui é o @nonoinvestidor

https://t.co/Twx6FKVEnK

[DAN KOE @thedankoe]

https://t.co/9DllJuH2ie

[Felipe Nunes @cfcacademybr]

@DuquesaDetax Alo @avioesemusicas

[Rose Celine Investments 🌹 @realroseceline]

Negative working capital

Negative working capital is one of the most misunderstood concepts in investing. Most people hear the word “negative” and assume it is bad, but in reality it can be one of the most powerful characteristics a business can possess.

Working capital is simply current assets minus current liabilities. In plain English, think of it as cash and inventory minus short term obligations.

Imagine a normal business, such as a furniture store. You buy a couch from a supplier for $1,000 and the supplier gives you 30 days to pay. You now owe $1,000, but nobody has purchased the couch yet. You have inventory sitting on the floor, capital tied up in the business, and cash that cannot be used elsewhere. This is how many traditional businesses operate. Growth requires more inventory, more working capital, and more cash.

Now imagine the opposite. A customer places an order today and pays immediately. The business receives cash upfront but does not have to pay suppliers for another 30, 60, or 90 days. The company gets the money first and pays everyone else later. That is negative working capital.

$AMZN is one of the best examples. A customer buys a product today and Amazon collects the cash immediately. The supplier may not get paid for 60 days and the shipping provider may not get paid for 30 days. $AMZN receives the cash before everyone else gets paid. In effect, the customer is financing the business.

Think about what that means. On day one $AMZN receives $100 from a customer. On day sixty $AMZN pays the supplier $70. For sixty days $AMZN gets to hold and use that cash. Multiply that by millions of transactions every day and billions of transactions every year and you begin to understand why the economics are so powerful.

$COST is another fantastic example. You walk into $COST and fill a cart with groceries. $COST receives the cash immediately, but suppliers may not be paid for weeks. As sales increase, more customers provide cash and more supplier credit appears. Working capital becomes a source of funding rather than a use of funding.

This is one of the reasons investors love businesses with negative working capital. Most companies require additional capital to grow. A restaurant needs more inventory, more employees, more equipment, and more locations. Growth consumes cash.

Negative working capital businesses are different. Growth often creates cash. The faster they grow, the more money flows into the business before expenses need to be paid. That is a remarkable advantage.

$MA and $V are even more extreme. They have virtually no inventory, no factories, no warehouses, and very little capital tied up in operations. Cash arrives almost instantly while the business itself requires very little incremental investment. That is one reason these businesses generate such extraordinary returns on capital and convert such a high percentage of earnings into free cash flow.

Think of it this way. A normal business says, “I need money so I can grow.” A negative working capital business says, “The more I grow, the more money customers give me.”

That is why investors get excited when they find negative working capital combined with high margins, high returns on capital, a strong moat, and a long runway for growth. It often signals a business that can expand for years without constantly needing outside capital.

It is one of the hidden superpowers behind businesses such as $AMZN, $COST, $MA and increasingly parts of $MELI.

The ideal business gets paid immediately, pays everyone else later, and never has to commit much of its own capital to growth. That is about as close to a financial superpower as a business can get.

🌹

[Felipe Nunes @cfcacademybr]

@nonoinvestidor @realmilgrauu Rainha System - Linha Mbappe

[Felipe Nunes @cfcacademybr]

@nonoinvestidor esse tuite é de 2009?

[Felipe Nunes @cfcacademybr]

@aero_in

[Felipe Nunes @cfcacademybr]

@nonoinvestidor esse horario remoto é o trabalho durante o trajeto no onibus.

[Felipe Nunes @cfcacademybr]

@flaviogarag E o contador, Flavão?

[Felipe Nunes @cfcacademybr]

@joaomviso @adrianoxavierx Eu recomendaria um teste drive no geely ex2 antes de fechar o BYD Tan.

[Felipe Nunes @cfcacademybr]

@joaomviso Meu antigo carro era um Fox Hoghline. Depois disso, por opção, passei 5 anos sem carro.

Mas tive filho e o custo com uber subiu muito e qualidade caiu na mesma velocidade.

Então, a compra foi necessária. Muita pesquisa e conversas com @adrianoxavierx ajudaram na escolha.

[Felipe Nunes @cfcacademybr]

@advricardoarias @nonoinvestidor protocolado em 3 vias

[Felipe Nunes @cfcacademybr]

@nonoinvestidor vão começar a mandar o cliente resolver as coisas nas agencias de forma pessoal. kkkkkk

[Felipe Nunes @cfcacademybr]

@nonoinvestidor @venecasagrande 2026 antes de cristo né. Desde que me entendo por gente sempre tem um pé de foice indicado na seleção.

Lembro da comunidade do orkut: Empresário do Goleiro Doni.

[Felipe Nunes @cfcacademybr]

@nonoinvestidor

[Felipe Nunes @cfcacademybr]

@nonoinvestidor . inclusive hoje caiu um elevador num predio construido pelo patrocinador Botafake.