Results 1 – 12 of 12 Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by George A. Roberts and a great selection of related. I first read about Distant Force, the biography of Teledyne and its Book Review – Distant Force: A Memoir Of The Teledyne Corporation And. Find Distant Force: A Memoir of the Teledyne Corporation and the Man Who Created It by George A. Roberts.
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Just a moment while we sign you in to your Goodreads account. Because their holdings of company stock became proportionally larger, their returns were augmented once Teledyne share prices began distznt grow again in the s. Gurpreet Narang rated it it was amazing Nov 02, Nedim Umur rated it it was amazing Jun 22, Much of this performance can be attributed to the company’s acquisitions. In a demon dust business – the per unit cost contributed by the capital good is a small part of the cost of the finished product; however, failure of the capital good results in failure of the finished product.
Rather, Exelis produces small components that form a small part of a larger system, but which are nevertheless crucial to the system’s successful function. However, what sets Danaher apart isn’t the use of acquisitions for growth-that’s a strategy used by many companies. Jean-marc Melchior rated it liked it May 27, Phillip rated it really liked it Rhe 02, On the other hand, this action had the effect of concentrating share ownership in the hands of long-term shareholders.
Book Review – Distant Force: A Memoir Of The Teledyne Corporation And The Man Who Created It
Want to Read saving…. Vivek rated it it was amazing Dec 20, Keyboard Shortcuts Close Available anywhere? After all, Facebook is infamous for having paid a billion dollars in to acquire Instagram, a company with not only zero earnings, but zero revenues, a far stretch from Henry Singleton’s refusal to pay even average valuations for an acquisition target.
Paul rated it liked it Nov 05, Sophie rated it it was amazing Sep 30, From its beginning, Teledyne focused on what Geoff Gannon calls “demon dust” businesses.
For example, according to the company’s Annual ReportExelis sensors “currently provide all of the tepedyne high resolution space-based imagery in the United States. The company even took on debt to do so, a tactic also used by Henry Singleton. Keywords Keywords Author Title Subjects. The author began his career as a metallurgist, and the book focuses heavily on technology rather than finance.
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The content here reflects only the author’s opinions. Jason Sooter rated it it was amazing Feb 05, And yet, it is the best illustration of Henry Singleton’s lessons in share buybacks because of those ten companies, only Zimmer Holdings increased its share buybacks in when its shares were lowest, at the worst dorce of the Great Recession.
One example of a company whose products are similarly small, yet critical to operations is Exelis NYSE: Do not rely on it in making an investment decision. Another way in which Henry Singleton took advantage of the irrationality of public markets was in his purchase of publicly traded securities when they were undervalued.
During that time, the company’s stock gave investors Of course, just because Berkshire Hathaway embodies all of the important characteristics of Teledyne doesn’t mean that someone buying Berkshire Hathaway today will earn Teledyne’s historical returns-or, for that matter, Berkshire Hathaway’s historical returns.
However, if Santander’s shareholders do benefit in such a way from the company’s stock dividend, it will be another example of the lesson learned by Teledyne shareholders-stock dividends can be a powerful source of value for long-term shareholders.
Nevertheless, it is striking how many characteristics of Teledyne can be seen in Berkshire Hathaway. Such a dividend would not be taxed unless its recipient chose to sell his or her shares, unlike a cash dividend, which would incur an automatic tax. GD is that it generally does not produce comprehensive final products like Lockheed’s F fighter or General Dynamics’ Abrams tank. William Knecht rated it liked it Jul 17, This content is meant solely for the entertainment of the reader and its writer ghe.
The company’s other acquisitions have also been coropration during downturns that allowed the company to get a good deal. Those who refused to sell any shares saw their holdings grow through buybacks and stock dividends. It gave yield oriented investors a yield that they could access without selling the principal part of their investment.
I have no business relationship with any company whose stock is mentioned in this article.
They reflect Teledyne’s participation in various emerging One such company is Zimmer Holdings, Inc. A directory of all reports, which have been indexed by date, title and Teledyne company featured, is in a PDF file on this disk and also included in the Appendix of the book [p.
Like many companies run by a strong capital allocator, Teledyne avoided paying a significant cash dividend for most of its history, preferring to retain cash for future investments. Content Types A meomir number of items are shown. After all, effective capital allocation is just another name for effective investing, and Warren Buffett is widely considered the greatest investor of all time.
Just like Henry Singleton used overvalued Teledyne shares to acquire companies, Mark Zuckerberg has used Facebook’s high valuations as an opportunity to raise cash and build corporate value. Buying companies tends to raise the purchase price too dstant. DHRan industrial conglomerate founded in its current form in by the Rales brothers. These articles were written by Robert J.
According to a Fortuna case studyDanaher has traditionally purchased companies that are relative laggards in their fields.