Sublime

In summary, successful businesses operate with a crystal

In finding his way, Grove had followed the trail of a legendary, Vienna-born gadfly, the first great “modern” business management thinker: Peter Drucker.

was the belief that the primary goal for any CEO was to optimize long-term value per share, not organizational growth.

I will create a rule for each of these five attributes. As we shall see, each works well on its own, but they are even more powerful when combined together into the Millennial Money strategy. The strategy identifies companies that: Have shareholder friendly practices (pay dividends, buy back shares, and pay down their debt) Earn strong returns on t

1. Operate from a position of strength. Following his father’s wisdom, Mellon always maintained excess reserves to move quickly and decisively. This allowed him to capitalize on opportunities others couldn’t pursue during the inevitable downturns.


2. Keep your head, when others are losing theirs . During the 1929 crash—hi

The success of each fund entirely rests on the top one to three companies in the fund. There’s often even a large gap between the returns from the No. 1 company and those from the runner-up. Fred Wilson, co-founder of Union Square Ventures, uses a heuristic of thirds: “one deal returns the fund, another 3 to 4 deals return it again, and the rest re

The second-best scenario is a serial entrepreneur CEO planning to build out a new team. Third best is a team that did amazing things, but perhaps due to macro market conditions did not achieve a high return for investors.