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Capital allocation is the most important job a CEO has. Most of them aren't very good at it.
financial-philosophy— Trian Fund white paper on Procter & Gamble, 2017
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Build a business, not a startup. Startups are optimized for growth. Businesses are optimized for profit. Profit is what gives you freedom.
financial-philosophy— The Minimalist Entrepreneur, 2022
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History shows that people who save and invest grow and prosper, and the others deteriorate and collapse.
financial-philosophy— A Gift to My Children, 2009
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Once you've won the game, stop playing.
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I grew up understanding the value of hard work. I did not grow up in wealth. That shaped how I think about every dollar the company spends.
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We are not going to do a deal just because the market expects us to. Every dollar we spend has to earn a return above our hurdle rate, full stop.