Whereas Toyota is the world leader in autos from an operational perspective, they are still a laggard in terms of running the business for the owners. They do not appear to care about maximizing shareholder value.
Europe has done well, so they are all in Europe. We believe our shareholders pay us to make investment decisions. They don't pay us to look like the index.
You have to be careful because of the nature of the corporate structure.
Managers, instead of following their convictions, are following the crowd. There is a herd instinct.
You'd be hard-pressed to find that somewhere else.
The shareholders have done very well since he left. We probably tripled our original investment over seven years.
Maurice Saatchi cultivated the press instead of the clients.
We go where there is value, not where everyone else goes. Sometimes the best value is where no one else is at.
What changed my mind about getting a doctorate is the university stressed research over teaching. I wanted to teach.
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