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100 Best Business Books of All Time

Following years of reading, appraising, and retailing business books, 800-CEO-READ creator Jack Covert, ex-president Todd Sattersten, and present general manager Sally Haldorson have selected and appraised the one hundred greatest business titles of all time—the ones that dispense the biggest payoff for today’s occupied readers. It’s a great list, and in the vein of all lists, bound by argument and long-windedness about what is and isn’t contained in this list. Each book gets a couple of pages of outline handling.

Best Business Books on Improving Your Life

Best Business Books on Leadership

Best Business Books on Strategy

Best Business Books on Sales and Marketing

Best Business Books on Economics and Metrics

Best Business Books on Management

Best Business Biographies

Best Business Books on Entrepreneurship

Best Narratives of Fortune and Failure

Best Business Books on Innovation and Creativity

Best Books on Big Ideas About the Future of Business

Best Business Books on Management and Leadership Lessons

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Posted in Business and Strategy Leaders and Innovators Management and Leadership Mental Models and Psychology Philosophy and Wisdom

Best Books on Creativity

Inspire Greater Creativity

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Posted in Mental Models and Psychology

Books on Creativity Recommended by Ted Leonsis

Creative people often retain a capability to adopt a number of diverse stances or perspectives. When they look at their own work, they focus interchangeably on the technical aspects, the visual design, the ideas, and so on. They develop a set of standards or a checklist that leads their attention and helps them to scrutinize the creative process. Moreover, they master a lexis that enables them to assess their work in multiple dimensions, so that they can pass more qualified judgements than just ‘good’ or ‘bad.’

A multidimensional valuation gives students feedback, which helps them determine their strengths and detect areas in which they need to improve. The scores on such valuations can also help an educational program to review its results, contemplate its position and modify the course if necessary. Although creativity can only make the most of as originality, utility, and surprise all approach unity, the same description indicates that there are seven different ways that creativity can minimize. These alternatives were identified as

  • routine, reproductive, or habitual ideas,
  • accidental response bias,
  • irrational perseveration,
  • problem finding,
  • rational suppression,
  • irrational suppression, and
  • blissful ignorance.

According to conventional wisdom, creativity is somewhat done by creative people. Even creativity researchers, for several decades, seemed to direct their work by this principle, converging predominantly on individual differences: What are creative people like, and how are they different from most people in the world? Although this person-centered tactic yielded some important findings about the backgrounds, personality traits, and work styles of marvelously creative people, it was both limited and limiting. It presented little to practitioners related with helping people to become more creative in their work, and it virtually ignored the role of the social environment in creativity and innovation. In contrast to the long-established approach, the Componential Theory of Creativity assumes that all humans with normal capabilities are able to produce at least judiciously creative work in some domain, some of the time-and that the social environment (the work environment) can manipulate both the level and the incidence of creative behavior.

Books on Creativity Recommended by Ted Leonsis Ted Leonsis, the Internet entrepreneur, former AOL senior executive, and owner of the Washington Wizards and Washington Capitals recommends the following books on creativity.

  • Ed Catmull’s Creativity : 1970s computer animation pioneer and Pixar co-founder Ed Catmull‘s appealingly comprehensive explanation of how the studio he co-founded generated hits such as the Toy Story trilogy, Up, and Wall-E. Catmull closes that it is a leader’s responsibility to stop ambitious and perfectionist staff destroying their health and that of others. Aiming for zero mistakes is the worst possible goal for a creative project. He argues that a company has to appreciate the work of creativity and learn how to navigate the failures that will happen along the way.
  • 'Crossing the Chasm' by Geoffrey A. Moore (ISBN 0062292986) Geoffrey A. Moore’s Crossing the Chasm: Author Geoffrey A. Moore is managing partner of TCG Advisors, a consulting practice that delivers business and marketing strategy assistances to well-known high-technology companies. Moore declared that the greatest change in the marketing approach happens at the chasm—the organizations to the right of the chasm have meaningfully different opportunities than those on the left. Many ideas fail in the marketplace because their enthusiasts are not capable to cross the chasm.
  • Elmira Bayrasli’s From the Other Side of the World: Journalist Elmira Bayrasli posits that brilliant people around the world are conquering insoluble obstacles to build high-growth businesses that are driving wealth and building communities, regions and countries. By means of seven noteworthy stories, Bayrasli shows the next set of successful entrepreneurs could come not only from the as Silicon Valley but also from Nigeria, Pakistan or Mexico. She writes, “Entrepreneurs, by the very nature of what they do—disrupt and innovate—provide a necessary check and balance on government that no one else can—not businesspeople, not NGOs, not civil society organizations. They help remake the social order and help move progress forward, giving rise to new ideas, new industries, and new possibilities and forcing change. That is what has made them both heroes and villains that many in power feel the need to keep in check.”
  • 'Stop Playing Safe' by Margie Warrell (ISBN 1118505581) Margie Warrell’s Stop Playing Safe: When people confront a challenge, they often recoil into inaction. Drawing from the latest research plus dialogues with highly successful leaders and entrepreneurs, Warrell offers practical tools and inspiration needed to enjoy greater confidence, accomplishment and success in work and life. Outline your sense of purpose and engage in more inspiring goals. Circumnavigate uncertainty with clarity and be more decisive in adversity. Surmount the fear of failure and bounce back from setbacks with superior flexibility. Toughen your leadership ability and expand your influence regardless of position. Build a culture of courage in your office that advances bottom line results. As you strive to reach your goals, as you make those tough choices and take risks, look for your enthusiasm, find your power, and aim to make a difference. And know that this attitude—this mindset, this entrepreneurial way of looking at the world—runs though the lives of all successful people.
  • Linda A. Hill, et al.’s Collective Genius: The perpetual organizational challenge is to develop an organization capable of inventing over and over. Outdated, direction-setting leadership can work well when the resolution to a problem is known and forthright. The role of a leader of innovation is not to set a vision and stimulate others to follow it. It’s to create a cooperative spirit that is enthusiastic and capable to innovate. Collective Genius addresses (1) how leaders generate a willingness to do the hard work of innovation, and (2) how leaders can generate the ability to do the hard work of innovation.
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Posted in Management and Leadership Mental Models and Psychology

Read to Find Investment Ideas

Read to find investment ideas The secret of finding investment ideas can be summarized in one word: READ.

Of course, in order to spend a lot of time on business news, you must be interested in economic and financial affairs. But as you become more accustomed to accumulating and storing financial information, you will find the subject increasingly interesting, particularly if your interpretation of events leads to profits.

Nothing can motivate you more than your own success. The turbulence in the financial markets underscores the importance of becoming your own analyst. This will insulate you from other people’s opinions and will give you the confidence to pursue your own ideas and goals by checking out the facts.

The way to do this is with a disciplined system of reading and information gathering. Over time, you should acquire a financial file or library of companies, ideas and trends that warrant investment attention. To sniff out opportunities from the financial news requires an understanding of what to look for.

Two people might read the same article, one of whom may spot a nuance that suggests an important opportunity, while the other person sees nothing of significance.

What we aim to provide in this chapter are some hints and clues on what to look for in the financial news, what to read and how to accomplish all this in the least amount of time.

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Posted in Investing and Finance

Con Artists Thrive When Opportunity Meets Predisposition

Con Artists Thrive When Opportunity Meets Predisposition

Con artists are artists. It’s all about the soft skills—there are no hard skills here. They are unlike a sleazy salesperson was trying to sell you something. As a con artist, you often don’t see them coming, you even don’t realize quickly that you have been conned because they are all about the soft touch. We’re all subject to credulity, how others exploit this, what we can do to spot would-be manipulators and guard ourselves, and how we can use the same principles of coaxing for good rather than evil.

The commerce between discourses of authenticity and the confidence games played by counterfeiters, both literal and literary, is the subject of two recent studies. Conning people is an art, conning is an artistic skill. Con artists never had to ask for anything—people give it to them—their conference, their trust, their money, their respect—to the con artists willingly. People don’t really understand, a lot of times, that they’re victims of a con because they believe it so much they want to keep believing. That is why it is often really difficult to prosecute con artists because it is often difficult to pinpoint what crimes they have committed. The psychopath and the con artist have at least two traits in common: lack of empathy and enough perception to isolate someone’s vulnerabilities or desires and take advantage of them.

New Yorker columnist and science journalist Maria Konnikova explores in The Confidence Game how con artists prey on our susceptibility for believing what we wish were true and how this explains the inner workings of confidence and duplicity in our everyday lives.

There is a con or two that people use at work—that people fall for at work. People at work often end up conning others without realizing what they’re doing or without it initially. A lot of people will start cutting corners—not only the accountants but anyone who has to deal with money—let’s say a trader who had a bad quarter or bad portfolio performance or anyone where the numbers are not quite right. It’s common not to see this only in finance, but also in academia, scientists where the data has not come out quite as expected. In an increasingly over-populated planet being depleted of its precious natural resources do we need any more objects polluting our environment even if they are traditional paintings or sculptures? To change the data just a tiny bit and fudge the numbers ever so slightly saying, “the data should have come out” or, “that trade should have gone my way.” They justified that they just need a little bit of extra wiggle room or an edge just for this quarter and then everything will be better in the future quarters. And then it’s all going to work out.

What ends up happening is that it doesn’t work out because there’s a reason it didn’t work out in the first time. Usually, what ends up happening is that you give yourself a license to deceive and now what you end up as with a slippery slope. You have to keep doing it because you have already done it once. Before you know it you are entangled in being an outright con.

'The Confidence Game: Why We Fall for It' by Maria Konnikova (ISBN 0525427414) There is one man that I write about in a company and I had a chance to speak with his lawyer who had been originally very sympathetic with the fact that this finance person have had a bad quarter. It was for his family, it was for his company, and he had a good heart. A con artist who doesn’t have the skills to hack into your data can buy it cheaply on the black market. He did it in one quarter and was overlooked, but when he did it in subsequent quarters and investigation revealed that he had cheated the company of thousands of dollars on the corporate court for also something for his family, vacations, private jets. The sympathy quickly evaporated.

People who take that moral license are the same people who keep going. Con artists are made when opportunity meets predisposition. There are a small number of people in finance, science, who, if given an opportunity will have that side of their personality come out. he motivation for many of these peculiar constructions seems to be that people are gullible and easy to fool so why not do so? But this is simply not the case. People must place their trust in most societal interactions-with friends, colleagues, the media, and even strangers. If one should discover that someone or something is (intentionally) unreliable, their basic trusting nature will evolve into skeptical cynicism. Con artists aren’t just master manipulators; they are expert storytellers. Much as we are intrinsically inclined to trust, we are naturally drawn to a compelling story. Once they get away with it, the thrill and the knowledge that they got away with it will enable them to do it over and over again.

In academics, especially in social sciences, it’s easy to manipulate how you select your sample size, what statistical method you use, and do you use the statistical method to conform to you’re a priori hypothesis, the chances are slim that you are going to get caught.

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Posted in Mental Models and Psychology

Value Investing: Philip Fisher on When to Sell a Stock

Common Stocks and Uncommon Profits, by Philip Fisher

Philip Fisher (1907–2004) is widely considered the pioneer and thought process leader in long-term value investing. Years after his death, Fisher

is widely respected and admired as one of the most influential investors of all time. Fisher developed his long-term investing philosophy decades ago

and discussed them in his seminal book, Common Stocks and Uncommon Profits. Common Stocks and Uncommon Profits was first published in 1958

and continues to be a must-read today for investors and finance professionals around the world.

Philip Fisher, Investor, Author of Common Stocks And Uncommon Profits Today, we will dig deeper into his selling discipline. For many investors, buying a stock is much easier than deciding when to sell it. Selling securities is much more difficult than buying them. The average investor often lacks emotional self-control and is unable to be honest with himself. Since most investors hate being wrong, their egos prevent taking losses on positions, even if it is the proper, rational decision. Often the end result is an inability to sell deteriorating stocks until capitulating near price bottoms.

Selling may be more difficult for most, but Fisher actually has a simpler and crisper number of sell rules as compared to his buy rules (3 vs. 15). Here are Fisher’s three rules for selling a stock:

  • Wrong Facts: There are times after a security is purchased that the investor realizes the facts do not support the supposed rosy reasons of the original purchase. If the purchase thesis was initially built on a shaky foundation, then the shares should be sold.
  • Changing Facts: The facts of the original purchase may have been deemed correct, but facts can change negatively over the passage of time. Management deterioration and/or the exhaustion of growth opportunities are a few reasons why a security should be sold according to Fisher.
  • Scarcity of Cash: If there is a shortage of cash available, and if a unique opportunity presents itself, then Fisher advises the sale of other securities to fund the purchase.

Many investors are reactive and sell at the same time everyone else does—when they’re fearful. But your emotions aren’t the best guide for making critical financial decisions. Long-term investors should not fear occasional swings in the market. When the market dips or takes an unusual turn, that is the perfect time to review your portfolio and re-evaluate your investing strategy.

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Posted in Investing and Finance

Mungerisms: Amusing Quotes from Charlie Munger from the Berkshire Hathaway 2014 Annual Meeting

Amusing Quotes from Charlie Munger from the Berkshire Hathaway 2014 Annual Meeting

Charlie Munger is not always politically correct, always offers a wealth of information, and hilarious now and then. At the 2014 annual meeting of Berkshire Hathaway, here are some of his best zingers:

  • On the interplay between CEOs and corporate directors regarding compensation: “You start paying directors of corporations two or three hundred thousand dollars a year, it creates a daisy chain of reciprocity where they keep raising the CEO and he keeps recommending more pay for the directors.”
  • On CEO pay and work habits: “Does the Supreme Court work less hard because they don’t get paid like corporate executives? We have some corporate directors who draw more pay than members of the Supreme Court. That’s crazy,”
  • 'Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger' by Peter D. Kaufman and Ed Wexler (ISBN 1578645018) On taxing the 1%: “The taxes on wealth were much higher when I was much younger. So for somebody of my age, I don’t think they’re ruining the world because I’ve lived through way more punitive taxes on the rich than we have now … I don’t think everybody who’s been especially favored should take the last dollar that he or she should get. I think we all have an obligation to dampen these fires of envy.”
  • On Facebook, Twitter, and the appeal of social media: “It just doesn’t interest me at all to gab all the time on the Internet with people and I certainly hate the idea of young people putting in permanent form the dumbest thoughts and the dumbest reports of action that you can ever imagine.”
  • On his favorite advance in technology: “I’m in love with the Xerox machine.”
  • On Donald Sterling, the then-owner of NBA Clippers, who then faced racial remarks and lifetime ban:”He’s a peculiar man. He’s past 80. His girlfriend has had so many facelifts she practically can’t smile. This is not the noblest ideal of what the American businessman should be.”

Insightful books about Charlie Munger

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Posted in Investing and Finance Philosophy and Wisdom

The 100 Greatest Novels of All Time

The 100 greatest novels of all time

Can’t decide what to read? Consider The Guardian’s list of top 100 novels ever written.

  1. “Don Quixote” by Miguel De Cervantes
  2. “Pilgrim’s Progress” by John Bunyan
  3. “Robinson Crusoe” by Daniel Defoe
  4. “Gulliver’s Travels” by Jonathan Swift
  5. “Tom Jones” by Henry Fielding
  6. “Clarissa” by Samuel Richardson
  7. “Tristram Shandy” by Laurence Sterne
  8. “Dangerous Liaisons” by Pierre Choderlos De Laclos
  9. “Emma” by Jane Austen
  10. “Frankenstein” by Mary Shelley
  11. “Nightmare Abbey” by Thomas Love Peacock
  12. “The Black Sheep” by Honoré De Balzac
  13. “The Charterhouse of Parma” by Stendhal
  14. “The Count of Monte Cristo” by Alexandre Dumas
  15. “Sybil” by Benjamin Disraeli
  16. “David Copperfield” by Charles Dickens
  17. “Wuthering Heights” by Emily Brontë
  18. “Jane Eyre” by Charlotte Brontë
  19. “Vanity Fair” by William Makepeace Thackeray
  20. “The Scarlet Letter” by Nathaniel Hawthorne
  21. “Moby-Dick” by Herman Melville
  22. “Madame Bovary” by Gustave Flaubert
  23. “The Woman in White” by Wilkie Collins
  24. “Alice’s Adventures In Wonderland” by Lewis Carroll
  25. “Little Women” by Louisa M. Alcott
  26. “The Way We Live Now” by Anthony Trollope
  27. “Anna Karenina” by Leo Tolstoy
  28. “Daniel Deronda” by George Eliot
  29. “The Brothers Karamazov” by Fyodor Dostoevsky
  30. “The Portrait of a Lady” by Henry James
  31. “Huckleberry Finn” by Mark Twain
  32. “The Strange Case of Dr Jekyll and Mr Hyde” by Robert Louis Stevenson
  33. “Three Men in a Boat” by Jerome K. Jerome
  34. “The Picture of Dorian Gray” by Oscar Wilde
  35. “The Diary of a Nobody” by George Grossmith
  36. “Jude the Obscure” by Thomas Hardy
  37. “The Riddle of the Sands” by Erskine Childers
  38. “The Call of the Wild” by Jack London
  39. “Nostromo” by Joseph Conrad
  40. “The Wind in the Willows” by Kenneth Grahame
  41. “In Search of Lost Time” by Marcel Proust
  42. “The Rainbow” by D. H. Lawrence
  43. “The Good Soldier” by Ford Madox Ford
  44. “The Thirty-Nine Steps” by John Buchan
  45. “Ulysses” by James Joyce
  46. “Mrs Dalloway” by Virginia Woolf
  47. “A Passage to India” by EM Forster
  48. “The Great Gatsby” by F. Scott Fitzgerald
  49. “The Trial” by Franz Kafka
  50. “Men Without Women” by Ernest Hemingway
  51. “Journey to the End of the Night” by Louis-Ferdinand Celine
  52. “As I Lay Dying” by William Faulkner
  53. “Brave New World” by Aldous Huxley
  54. “Scoop” by Evelyn Waugh
  55. “USA” by John Dos Passos
  56. “The Big Sleep” by Raymond Chandler
  57. “The Pursuit Of Love” by Nancy Mitford
  58. “The Plague” by Albert Camus
  59. “Nineteen Eighty-Four” by George Orwell
  60. “Malone Dies” by Samuel Beckett
  61. “Catcher in the Rye” by J.D. Salinger
  62. “Wise Blood” by Flannery O’Connor
  63. “Charlotte’s Web” by E. B. White
  64. “The Lord Of The Rings” by J. R. R. Tolkien
  65. “Lucky Jim” by Kingsley Amis
  66. “Lord of the Flies” by William Golding
  67. “The Quiet American” by Graham Greene
  68. “On the Road” by Jack Kerouac
  69. “Lolita” by Vladimir Nabokov
  70. “The Tin Drum” by Gunter Grass
  71. “Things Fall Apart” by Chinua Achebe
  72. “The Prime of Miss Jean Brodie” by Muriel Spark
  73. “To Kill A Mockingbird” by Harper Lee
  74. “Catch-22″ by Joseph Heller
  75. “Herzog” by Saul Bellow
  76. “One Hundred Years of Solitude” by Gabriel García Márquez
  77. “Mrs Palfrey at the Claremont” by Elizabeth Taylor
  78. “Tinker Tailor Soldier Spy” by John Le Carré
  79. “Song of Solomon” by Toni Morrison
  80. “The Bottle Factory Outing” by Beryl Bainbridge
  81. “The Executioner’s Song” by Norman Mailer
  82. “If on a Winter’s Night a Traveller” by Italo Calvino
  83. “A Bend in the River” by V. S. Naipaul
  84. “Waiting for the Barbarians” by J.M. Coetzee
  85. “Housekeeping” by Marilynne Robinson
  86. “Lanark” by Alasdair Gray
  87. “The New York Trilogy” by Paul Auster
  88. “The BFG” by Roald Dahl
  89. “The Periodic Table” by Primo Levi
  90. “Money” by Martin Amis
  91. “An Artist of the Floating World” by Kazuo Ishiguro
  92. “Oscar And Lucinda” by Peter Carey
  93. “The Book of Laughter and Forgetting” by Milan Kundera
  94. “Haroun and the Sea of Stories” by Salman Rushdie
  95. “La Confidential” by James Ellroy
  96. “Wise Children” by Angela Carter
  97. “Atonement” by Ian McEwan
  98. “Northern Lights” by Philip Pullman
  99. “American Pastoral” by Philip Roth
  100. “Austerlitz” by W. G. Sebald
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Posted in Hobbies and Pursuits

Creating Authentic and Sustainable Value the Toyota Way

Creating Authentic and Sustainable Value

Creating authentic value goes beyond getting financial results. Getting financial results is not what the magic of leadership is all about. Even poor leaders get results—often at unacceptable costs. We can achieve our goals but harm our health; get results but damage morale; make earnings but jeopardize customer relationships; push for cost savings but diminish quality; advance our career but destroy our family.

Taiichi Ohno, the father of the Toyota Production System, defined waste as “any activity that absorbs resources but creates no value” and “Consider the waste of overproduction, for example. It is not an exaggeration to say that in a low-growth period such waste is a crime against society more than a business loss. Eliminating waste must be a business’s first objective.” Good leaders get results; great leaders create sustainable value by serving multiple constituencies.

Dee Hock, the visionary founder of Visa, said, “As leaders, our job is to serve everyone else.” This is a powerful reframe of leadership. It is so easy, as we advance into leadership roles, to think that others are there to serve our needs. The shift means moving from leadership that is self-serving and short-term, to leadership that is constituency serving and sustainable. In Winston Churchill’s words, “We make a living by what we get. We make a life by what we give.” We are measured as a manager by what we produce. We are judged as a leader by what we give. As Einstein said, “It is high time the ideal of success is replaced with the ideal of service.”

Once I coached a highly-driven, results-oriented executive whose belief system was: I achieve therefore I am. All needed to serve his ego mission.

'The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer' by Jeffrey Liker (ISBN 0071392319) As his career advanced, his relationships suffered. However, because he was producing results, his bosses loved him. They were unaware of the heavy costs. One day a 360-degree assessment revealed how others viewed his leadership. At first, he resisted the input. “I’m so results-driven that I sometimes drive people too hard.”

During coaching, he began to see how his approach was getting results but not creating sustainable value: “I’ve been controlling everyone to serve my need to succeed, not serving my people.”

The watershed moment for leaders is to move from tyranny to stewardship, from being burdensome to being purposeful, from control and domination to inspiration and service. If we don’t make this leap, what behaviors will we justify in the name of financial results?

Financial results fuel organizations. Nevertheless, if we seek financial results only for the shareholders, without serving employee, customer, and environmental needs, the results will not be sustainable. New leaders will need to create more balanced measures to achieve financial results.

Finding creative, life-enriching ways to serve multiple constituencies is the leadership challenge today. One powerful way is to foster a compelling vision of our unique Value Creation proposition: What life-enriching vision do we serve? When I visit organizations, I ask people, “What do you do?” It is a type of Value-Creation Audit. Most people describe their job. Others see their role and contribution on a deeper level.

Awaken Value Creation

Here are some principles for awakening value creation:

  • Good leaders get results; great leaders get sustainable results.
  • Great leaders serve the interests of multiple constituencies.
  • Financial results are only one measure of Value Creation.
  • True Value Creation requires that we also enrich the lives of people.
  • Great leaders realize that their role is to serve, not to be served.

To build a compelling value-creating culture, ensure that people understand the life-enriching vision.

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Posted in Business and Strategy Management and Leadership

Koch Industries’s Three Key Criteria When Evaluating A Deal

Koch Industries

Koch Industries is one of the largest conglomerates in the United States. It is based in Wichita in the state of Kansas, USA. Koch Inc has been ranked second by Forbes list of largest private companies.

'The Science of Success: How Market-Based Management Built the World's Largest Private Company' by Charles G. Koch (ISBN 0470139889)The Koch brothers, Charles Koch and David Koch, own Koch Industries. The conglomerate began as an oil refining business. Fred C. Koch, the Koch brothers’ father, had developed a more efficient method for refining gasoline which allowed him to compete with established refineries. Koch Industries has since expanded into other manufacturing sectors. The Koch brothers are equally infamous primarily for their involvement in politics, including GOP fundraiser events, Super PAC spending in the hundreds of millions, and for their financial support of the Tea Party Movement.

Kochs Brothers: Charles Koch and David Koch

Here are the three key criteria when Koch Industries evaluates a deal:

  1. The business in question must be in trouble. When a company is teeming along, there’s not a lot of upside in any potential deal. If it has some sort of enormous problem, there is a better chance that Koch Industries can harvest profits from its revival.
  2. The deal must be a long-term play. Most public companies need to show good results on a quarterly basis. Even private equity funds need to show their senior investors that investments are paying off in at least a few years. Koch does not. Being privately held means the company has a long-term investing horizon and can think operationally and strategically in terms of decades.
  3. The target company must have key skills or “core capabilities” that will benefit the company over the long term. Koch doesn’t just bring money to the table. It bring expertise. And if Koch doesn’t already know something important about running the business in question, it will pass on the investment.
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Posted in Investing and Finance