IN THIS EPISODE, YOU'LL LEARN:00:38:03 - Nick Sleep’s investment philosophy and how he was able to outperform the market from over his fund's tenure.00:06:02 - Why Sleep bet big on Amazon and Costco in the early years of his fund.00:14:54 - What fundamentally set Amazon and Costco apart from all other companies.00:15:33 - Sleep’s ideas related to portfolio management and portfolio diversification.00:23:14 - How Sleep uses Destination Analysis in selecting investment opportunities.00:25:43 - How Sleep capitalized on purchasing cheap stocks during the great financial crisis. 00:36:45 - Some thoughts on one of Sleep’s recent purchases in ASOS.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCESListen to Clay’s previous episode covering Warren Buffett's 12 Investment Principles.Learn how Warren Buffett built his $100 billion fortune here.Check out Bill Miller and William Green's conversation here.Check out John Huber's episode on Millennial Investing here.William Green's book - Richer, Wiser, Happier.Follow Clay on Twitter and Instragram.NEW TO THE SHOW?Check out our We Study Billionaires Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet position and investment info for nearly 6,000 Asset Management Companies with Moomoo, Australia’s first A.I. powered trading platform. Sign up and fund your moomoo account before October 31 and get $10 for every $100 you deposit. All investment carries risk. AFSL 224 663. T&Cs apply.Private assets represent 98% of companies in North America but are absent in most portfolios. Reconstruct your portfolio with private markets with Mackenzie Investments.Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One.Monitor your recovery, sleep, training, and health, with personalized recommendations and coaching feedback with WHOOP. Use code WSB to save 10% off your order today.When you want to be a better problem solver, therapy can get you there. Get 10% off your first month with Betterhelp today.Have gold and silver shipped directly to your door for you to hold at your home. Get BullionMax’s Gold Investor Kit today - 3 ounces of the world’s most desirable gold coins, including the Gold American Eagle and Canadian Maple Leaf.Whether you’re exploring ways to manage volatility, seeking income and diversification opportunities, or looking for tax management strategies- Invesco has over 200 ETFs to help you meet your financial goals. Visit invesco.com for a prospectus with this information.If your business has five or more employees and managed to survive Covid you could be eligible to receive a payroll tax rebate of up to twenty-six thousand dollars per employee. Find out if your business qualifies with Innovation Refunds.Take a position daily on potential price movements, and gain exposure while limiting risk with Interactive Brokers.Enjoy 10% off your first booking in Viator’s world of over 300,000 experiences you’ll remember. Download the Viator app now and use code VIATOR10.Send, spend, and receive money around the world easily with Wise.Throw out the old traditions and get progressive. Discover the complete package - smart design, lots to love under the hood with Genesis.More wealth, more purpose, or making more of a difference? Commonwealth Private helps you create more of yours - with exceptional service and experts who meticulousl