A Quote by Whitney Tilson
Most chief executives rise to that position by being good operating managers. Few have extensive experience or training with capital allocation. What CEO wants to return excess cash to shareholders when it could be used to expand his or her empire?
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Venture capitalists are professional money managers. We are provided capital to invest as long as we can return it to our investors with a strong return in a reasonable amount of time. A strong return is three times cash on cash. A reasonable amount of time is ten years max.
We generated $13.5 billion in cash flow from operations and returned almost $21 billion in cash to shareholders through dividends and share repurchases during the March quarter. That brings cumulative payments under our capital return program to $66 billion.
It would be far less interesting, after 'The Empire Strikes Back,' to have an hour-long movie in between 'Empire' and 'Return of the Jedi,' where Luke is training. It's so much cooler to cut from end of 'Empire' to beginning of 'Return,' where he's become the Jedi.
The museums used to be exhibition halls for government propaganda, and now every city wants to build a museum. A few thousand are to be built in the next few years, all using taxpayer money. But there is no system, no research, no content, no good programs, no good managers.
The CEO era gave rise to the CFO (not certified flying object, as you might imagine, but chief financial officer) and, most recently, the CIO, chief investment officer, a nice boost for the bookkeeper you can't afford to give a raise . . .
Chief executives that are successful make good chief executives.
As I looked across the company, there are three things that keep coming up that we need to work on: culture, our operating rigor, and capital allocation.
As good government is an empire of laws, how shall your laws be made? In a large society, inhabiting an extensive country, it is impossible that the whole should assemble to make laws. The first necessary step, then, is to depute power from the many to a few of the most wise and good.
A lot of deals are done or not done because chief executives are not fully aligned to shareholders.
One reason--perhaps the chief--of the virility of the Roosevelts is [their] very democratic spirit. They have never felt that because they were born in a good position they could put their hands in their pockets and succeed. They have felt, rather, that being born in a good position, there is no excuse for them if they did not do their duty by the community.
American Empire- it is an empire that lacks the drive to export its capital, its people and its culture to those backward regions which need them most urgently and which, if they are neglected, will breed the greatest threats to its security. It is an empire, in short, that dare not speak its name. It is an empire in denial.
He wants her in his bedroom. And not in that way — no girl has ever been in his bedroom that way. It is his private space, his sanctuary. But he wants Clary there. He wants her to see him, the reality of him, not the image he shows the world. He wants to lie down on the bed with her and have her curl into him. He wants to hold her as she breathes softly through the night; to see her as no one else sees her: vulnerable and asleep. To see her and to be seen.
Show me a chief executive who’s on five boards and who lends his or her name, prestige and time to 15 community activities — and I’ll show you a company that’s underperforming. A chief executive is paid to run the company. That’s the CEO’s job.
Today, I think a CFO needs to be more of an operating CFO: someone who's using the financial data and the data of the company to help drive strategy, the allocation of capital, and the management of risks.
I'm in a different position than most CEO's. I'm a founder. I'm not a hired CEO. Now, I can be fired by the board, but most CEO's are hired by the board.
Unconditional love. That’s what he wants to give her and what he wants from her. People should give without wanting anything in return. All other giving is selfish. But he is being selfish a little, isn’t he, by wanting her to love him in return? He hopes that she loves him in return. Is it possible for a person to love without wanting love back? Is anything so pure? Or is love, by its nature, a reciprocity, like oceans and clouds, an evaporating of seawater and a replenishing of rain?
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