55 Tips about Management

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The historical record on how they allocate capital – acquisitions, divestitures, buybacks, etc. – is ultimately most important to shareholder...
I'm looking for steady cash flows, reinvested on owners' behalf by honest and able management. Steady cash flows come from businesses that, for one...
When management with a reputation for brilliance tackles a business with a reputation for poor fundamentals, it is the reputation of the business that...
One red flag is when management sits down with us and right off asks, “What do you think is wrong with our share price?” Any implicit or explicit...
Diversification is a big part of our risk management. An important percentage of Omega’s total capital is our own money and we’re just trying to...
The most important question we ask management is what they believe is the best and highest use of the cash their company generates. We want to make...
The power of self-interest in business and economics is, of course, well established. “It is not from the benevolence of the butcher, the brewer, or...
We tend to be more about the jockey than the horse. It's important to understand how people are going to behave under stress. You don't have to...
You can’t overstate the importance of the CEO in judging an investment. My best ideas, by far, have been in situations where a new CEO takes over an...
People tend to assume that the only form of active portfolio management is through relatively concentrated portfolios. We think there's an equally...
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