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LONG-TERM THINKING IS both a requirement and an outcome of true ownership. Owners are different from tenants. I know of a couple who rented out their house, and the family who moved in nailed their Christmas tree to the hardwood floors instead of using a tree stand. Expedient, I suppose, and admittedly these were particularly bad tenants, but no owner would be so short-sighted. Similarly, many investors are effectively short-term tenants, turning their portfolios so quickly they are really just renting the stocks that they temporarily “own.”
Invent and Wander
Walter Isaacson and Jeff Bezos
Executives in today’s business Culture don’t fear mutiny quite so intensely as the sea captains of old, but there is still some reticence of letting People know too much detail behind the Numbers. A middle ground must be staked out, where employer and employee can meet and agree to push the company forward using data as both flashlight and lever. Every CEO knows that leveraging data can mean the difference between success and failure.
A CEO Only Does Three Things
Trey Taylor
Buffett was a young and hungry stock picker running a series of small hedge funds from his hometown of Omaha when, in 1962, he stumbled upon a struggling, publicly traded New England textile mill called Berkshire Hathaway. Over the previous 15 years, Berkshire had been vitiated by lower-cost competition; it had lost all but two of its mills and 80% of its employees. However, it was cheap: Its stock was selling at a wide discount to both its net worth, or book value, and its current assets less its current liabilities, or net working capital.
How Warren Buffett Built Berkshire Hathaway—and What Might Happen When He Leaves
fortune.com
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