Tracy Britt Cool
Co-Founder, Kanbrick. On 1 show, 1 appearance. The Shows tab opens the full record on each.
investorfounderexecutiveoperatorkanbrick.com ↗Wikipedia ↗
A longtime protégé of Warren Buffett, she spent a decade at Berkshire Hathaway as financial assistant to the chairman and CEO of subsidiary Pampered Chef. In 2020, she co-founded Kanbrick, an investment firm designed to acquire and grow midsize, founder- and family-owned businesses.
1shows
1appearances
34statements
2resolved
1supported
0contradicted
50%fully supported
Everything Tracy Britt Cool said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Cool: Most corporate boards fail to add value to businesses
“What I find is, for the most part, most boards don't add a lot of value to the businesses, and I think they oftentimes go too deep on areas that are less critical and not enough time on the areas that are most critical that they can provide the most value.”
Cool: Traditional private equity's 3-4 year horizon drives short-term decisions
“Traditional private equity, the focus is very short term. You know, you buy a business, you're focused on selling it three to four years later. And in doing that, I think what ultimately happens is you make short-term decisions about the businesses”
Cool: There will not be another company like Berkshire Hathaway
“Berkshire is a phenomenal place. I mean, it's unique. It's one of a kind. I don't think there'll be another one by any means.”
Cool: Relying on EBITDA creates false confidence because D&A is real
“Our view on sort of EBITDA is there's some industries where it makes sense, but in most industries, depreciation and amortization is real, and so if you focus on that, I think you sometimes give yourself false confidence in terms of what the business really lo…”
Cool: AI is increasing tech capital intensity and raising entry barriers
“If you look at the tech businesses, historically, there wasn't a lot of capital required. Google or others, they had network effect and these other dynamics that drove the moat, and so you didn't have capital. Now with AI, that's shifting quite considerably bu…”
Cool: Investment firms treat operating teams as second-class citizens
“Usually in a lot of firms, the operating teams are second class citizens where they're not at the same seat at the table as the investing organization.”
Cool: Quarterly reporting in public markets is a net negative
“Quarterly reporting, especially in the public markets, is a net negative for companies, for investors. I think it's intended to provide transparency, but it ends up doing short-term thinking.”
Cool: US private equity firms grew from 25 to 20,000 since 1980
“For example, in the 19 eighties, there were, you know, 20, 25 private equity firms In 2020, we got close to 20,000 in the U.S.”
Tracy Britt Cool: Private equity must create value post-acquisition through operations
“As sellers, rightfully so, gaining more of that value when they're being partnered with, that means you have to create more value after the partnership starts, and that means more of a focus on operating.”
Cool: Entering an MBA directly requires passing three specific readiness metrics
“I also think going straight from college to business school, which I advise the students now, is you're really on three metrics. You need to make sure you're ready. Socially, you're going to be with students who are much older than you are on average. Academic…”
Cool: Focusing solely on the long term causes businesses to fail
“You can't only think about the long-term. If you only think about the long-term, you probably won't get out of the short-term, because you're going to miss the situations of today, the short-term sort of dynamics.”
Cool: Midsize company CEOs cannot delegate daily operational basics
“A really important skill set that is oftentimes undervalued or underappreciated, and I think that's really important, especially in midsize companies where there's a lot of blocking and tackling to be done every single day, and oftentimes that rises all the wa…”
Cool: A Short-Term Horizon Would Have Damaged Pampered Chef Turnaround
“And I think that if my task was to go sell that business in three or four years, I don't know if I would have done all the same things. I probably would have made some shorter term decisions that ultimately probably would have created less value in the busines…”
Cool: Mid-Sized Companies Usually Lack Strategic Executive Talent Leaders
“If you look at executive teams, usually in mid-sized companies, there may not even be an HR leader. If they are, it's a more junior level generalist type person versus a true talent partner.”
Cool: Most mid-sized companies have 15 to 30 value-creating critical roles
“We find most mid-sized companies have between 15 and 30 roles that are the most critical roles to get right, and these are the ones that are creating the most value.”
Cool: Competent operators can clearly articulate problems even without fixing skills
“Typically people who really know their craft and know their business and know the fundamentals can really explain why we do certain things, why we don't. They may not have all the skills to go fix it, but they understand what the issues are and what the proble…”
Cool: An okay business earns 20% ROIC, a great one earns 50%+
“We typically say, like, an okay business is maybe 20% return on capital. A great business is probably looking at 50% plus in terms of return on capital.”
Cool: PE firms avoid comprehensive operational systems due to short hold horizons
“I think in shorter term holds, if you are, you know, private equity, You don't have the time period to get the benefits of doing it, and so why would you spend two years going and implementing something that you're not going to probably reap the full benefit i…”
Cool: 360-degree feedback fails without organizational trust and psychological safety
“If you're an organization where you don't have trust or psychological safety, it doesn't work. You know, the feedback isn't very good. It's shallow. People are defensive. People attack. Like, it's not productive or constructive feedback.”
Cool: Cambric uses 2x-3x leverage versus traditional private equity's 4x-6x
“So maybe a traditional private equity might put four to six times the leverage on a business. We'll probably do two or three times. We might also use a term of like a seller note where the seller is helping finance that which is a little bit more friendly than…”
Cool: Midsize founders often become overly debt-averse after near-death experiences
“And so, oftentimes, I think some midsize companies are actually, you know, almost debt, too debt adverse, where, you know, they won't even have, you know, mortgage on a property or, you know, use financing on an area where it might actually be prudent and they…”
Cool: Geoff Smart's 'Who' is the best simple book on hiring
“It is, I think, single-handedly the best simple book on hiring, and if you read that book, almost everyone will become a better hiring manager.”
Cool: Board decks should be ~20 slides focused on discussion
“Like, I don't think any slide deck should be 112 for a board. I mean, usually there's 20 slides, maybe, that get to the heart of the most important topics you're facing at a time, and then most of the time should be discussion and not presentation.”
One line per show, most statements first. The link opens Tracy's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
 KNOWLEDGE PROJECTLEDGER | Co-Founder, Kanbrick | 1 | 34 | 50% 1/2 | full record on the Knowledge Project → |