Matthew Giampetroni

A pseudosecret is a narrative about a next-order effect within your company its path towards world domination, and the future you believe in. It’s not the most obvious narrative, but is often the most important.

Cash deals do better, on average, than deals funded with equity or a combination of cash and equity.36 The basic idea is that management of the buyer will finance a deal with cash if it thinks the stock of its company is undervalued and will use stock if it thinks it is overvalued. Cash deals also provide a higher payoff for the shareholders of the

The exceptional (sometimes criticized) margins at Louis Vuitton did not arise from excessively high prices, but from the removal of all costs and damages due to intermediaries. Louis Vuitton’s competitiveness

was therefore structural”

as the bubble grows, it becomes an increasingly pure bet on a revolution

The research shows that companies that are more proactive in their internal resource allocation generate a higher ROA than those that are more conservative.

There is also evidence that companies that are good at internal capital allocation are also effective at external allocation

in a world with infinite information and opportunity, you don’t grow by  knowing or doing more ,  you grow by the ability to correctly focus on less