Sublime
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The core of our concept lay in the determination of the propriety of proposed projects. Four principles were to be satisfied, which we stated as follows: a. Is the Project a logical or necessary one considered as a commercial venture? b. Has the Project been properly developed technically? c. Is the Project proper, considering the interest of the C
... See moreAlfred P Sloan Jr. • My Years With General Motors
The Profitability Matrix: High ROEs and strong free cash flows are worth paying up for. Source: Morningstar, Inc.
Pat Dorsey • The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
Third, for business families, longevity is more important than occasional brilliance: each generation is both a custodian and a builder for future generations, but one silly or arrogant leader can in a few disastrous steps, destroy an entire legacy.
Kelly Pang • Asking Why
The Valley’s venture investors were typically Boston merchant princes, men such as Israel Thorndike, S. A. Eliot, Samuel Cabot, Francis Stanton, and Harrison Gray Otis. Edmund Dwight, a Morgan cousin on his mother’s side, wasn’t in the same financial stratum as a Cabot, but gained access through his work at the law firm of Fisher Ames, the old Mass
... See moreCharles R. Morris • The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
The fund, now managing $10 billion, had posted average returns of about 45 percent a year, after fees, since 1988, returns that outpaced those of Warren Buffett and every other investing star. (At that point, Buffett’s Berkshire Hathaway had gained 20 percent annually since he took over in 1965.)
Gregory Zuckerman • The Man Who Solved the Market
To recap: most startup businesses aren't worthy of investment, and no one, regardless of experience or expertise, is capable of routinely identifying which startups are worthy of investment and which are not. Despite these facts, angel investing—when done correctly—really can produce a consistent IRR in the 25 to 30 percent range. The way to achiev
... See moreDavid S. Rose • Angel Investing: The Gust Guide to Making Money and Having Fun Investing in Startups
Louis Pasteur once observed, “Chance favors . . . the prepared mind,”
William Thorndike • The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success
Building a Great Organization
John C. Bogle • Enough: True Measures of Money, Business, and Life
Families attempting long-term wealth preservation often don’t understand that they are businesses and that the techniques of long-term succession planning practiced by all other businesses are available to them as well. A family that starts its long-term wealth preservation planning by adopting the metaphor that it is a business will begin with a w
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