“I think the company's [HP's] success will be my legacy. The company's failure will be my failure, with all the predictable consequences of that.” ThinkingCompanyFailureConsequenceLegacyPredictable Author:Carly Fiorina
“A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than a third from cost or unless it reflects a known deterioration of consequence in the company's position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected.” WellsMayHas BeensRealValuesSoundLossCommonCompanyKnownPositionBearsCostPaperLowsConsequenceThirdsImportanceSellsExtraordinaryDefinedAffectedInvestorsDeclineCentsConvincingIndicationDeterioration Author:Benjamin Graham
“In life, everybody faces choices between doing what's popular, easy, and wrong vs. doing what's lonely, difficult, and right. These decisions intensify when you run a company, because the consequences get magnified 1,000 fold. As in life, the excuses for CEOs making the wrong choice are always plentiful.” RunningFacesChoicesEasyDifficultDecisionCompanyConsequenceLonelyExcuseCeoFoldsWrong ChoicesPlentiful Author:Ben Horowitz
“Activist Supreme Courts are not new. The Dred Scott decision in 1856, imposing slavery in free territories; the Plessy decision in 1896, imposing segregation on a private railroad company; the Korematsu decision in 1944, upholding Franklin Roosevelt’s internment of American citizens, mostly Japanese Americans; and the Roe decision in 1973, imposing abortion on the entire nation; are examples of the consequences of activist Courts and justices.” NationsJusticeDecisionCompanyExampleCitizensConsequenceSlaveryCourtSupremeAbortionActivistTerritorySupreme CourtSegregationFranklinImposingRailroadsAmerican CitizensInternment Author:Mark Levin
“Though the principles of the banking trade may appear somewhat abstruse, the practice is capable of being reduced to strict rules. To depart upon any occasion from those rules, is consequence of some flattering speculation of extraordinary gain, is almost always extremely dangerous, and frequently fatal to the banking company which attempts it.” MayCompanyPrinciplesPracticeDangerousCapableConsequenceGainsTradeExtraordinaryOccasionsStrictBankingSpeculationFlatteringStrict Rules Book:An inquiry into the nature and causes of the wealth of nations Source: An inquiry into the nature and causes of the wealth of nations