Juan Orbea

@juanorbea

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"An investment philosophy on ‘complexity investing’ from NZS Capital"

Investment philosophy on "complexity investing" from NZS Capital, emphasizing the need to embrace extreme events, balance resilience and optionality, and focus on quality, growth, and understanding change in portfolio construction.

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Investment thesis and

NZS Capital poses that the economy and the stock market are best studied as complex adaptive systems akin to biology. They emphasize investing in companies that are adaptable, long-term focused, innovative, possess long-duration growth, and maximize non-zero-sum outcomes. The approach involves fewer, larger positions in companies highly adaptive to disruption, high levels of quality, growth, and context, and smaller positions in companies with a wide range of potential outcomes.

We have ways to set up our lives for success when it comes to desires. So desires are path dependent, and one desire can bring us, if we follow that desire, will bring us to a place where we’re in a different position than we were when we started.

Farnam Street • Luke Burgis: The Power of Mimetic Desire [The Knowledge Project Ep. #138]

TAM arbitrage: The core idea is that if you, as an investor or a founder, can do the work and understand a market better than anyone else, and appreciate that its actually bigger than anyone gives it credit for, then investors can pay higher prices, founders can be more aggressive with burn, and experiment more broadly.

Kyle Harrison • Markets, Markets, and Markets

I'm a firm believer that founders are the people who can predict the future. --> "The best way to predict the future is to build it".

Kyle Harrison • Markets, Markets, and Markets

Sam states that, for him, AGI is basically the equivalent of a median human that you could hire as a coworker.

OpenAI CEO Sam Altman | AI for the Next Era

Vantem › Delivering Energy-Efficient, Climate-Resilient, Cost-Effective Homes at Scale

vantem.com

Future of Homebuilding and Homebuying and

But here’s the magic few people ever talk about …We’ve created more than $1.5 billion in value to Upfront from just 6 deals that WERE NOT immediately up and to the right.The beauty of these businesses that weren’t immediate momentum is that they didn’t raise as much capital (so neither we nor the founders had to take the extra dilution), they took... See more