Nick Sleep

British investor who co-managed Nomad Investment Partnership with Qais Zakaria — producing outstanding returns by concentrating in a few 'scale economies shared' businesses (Amazon, Costco, Berkshire) — and whose annual letters are considered among the finest documents of investment philosophy.

Identified and articulated the 'scale economies shared' business model — companies that continuously pass scale benefits back to customers rather than converting them to profit — as the most durable competitive position in business, and concentrated Nomad's portfolio in its three purest exemplars.