History is a great teacher if we only want to listen:
"the Internet rally looks like a beast they've seen rear its head time and again in an overripe bull market: a stock market bubble, fed by young, greedy investors for whom 20% annual return on investments is a mark of defeat"
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The best long-term businesses and investments are built on the mastery of CAPITAL ALLOCATION.
In this thread (🧵), we'll take a look at different ways to manage capital by well-known companies as examples.
Best served with a hot cup of coffee...
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In his excellent book "The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success", author William Thorndike concluded "great CEOs must understand capital allocation".