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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The company’s other acquisitions dustant also been made during downturns that allowed the company to get a good deal. Sophie rated it it if amazing Sep 30, In producing such products, Exelis is reminiscent of Teledyne, which also emphasized products critical to mission success, both military and civilian.
However, their willingness to buy low when most companies and their managers refused is a modern day example of the Teledyne tradition of using opportunistic stock repurchases to build shareholder value. Moreover, one method of finding good stock investments would be to search for companies like Teledyne that have consistently taken advantage of low valuations in investing in publicly traded companies.
As a result, Teledyne avoided diluting shareholders by using shares to make overpriced acquisitions. On the one hand, this seems to make no sense-Teledyne was spending valuable cash to buy back shares at the same time it was printing new shares to give to stockholders.
There dietant a number of companies today that exhibit each of these characteristics. Roberts first published January Physical Details vii, pages,  pages of plates: 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, corporztion the worst point of the Great Recession.
Another method by which Henry Singleton built value was through careful acquisitions. To see what your friends thought of this book, please sign up. Jason Orthman rated it really liked it Jan 08, Damon rated corporatioh really liked it Jan 23, Kim rated it liked it Mar 01, Of course, the fact that corporate managements have terrible timing in their share buybacks is old news to many investors. As head of Teledyne Corporation, Henry Singleton is probably best known for his share buybacks.
The system combines fundamentals such as listening to the Voice of the Customer and the continual improvements of kaizen with a focus on Ot, Leanness, and high quality Leadership. At the same time, other investors could avoid having part of their investment forcibly returned to them in cash.
This evolution has been driven in large part by buying companies in industries that the company wishes to enter. Of course, just because Zimmer Holdings and its CEO David Dvorak were willing to increase their share purchases when prices were low, like Teledyne and Henry Singleton, that doesn’t mean that they are going to give shareholders the same kind of returns.
Also, it is possible that the company’s prospects have improved so much this year that shares have become undervalued despite their rise. Nevertheless, it is striking how many characteristics of Teledyne can be seen in Berkshire Hathaway. However, one downside of stock dividends was that yield seeking investors who did not sell their original shares but who did sell their stock dividends saw their holdings diluted by those dividends.
After all, effective capital allocation is just another name for effective investing, and Warren Buffett is widely considered the greatest investor of all time. Studying these factors will help an investor find companies that can deliver returns like Teledyne’s. No trivia or quizzes yet.
And yet, Facebook has been noteworthy for one characteristic reminiscent of Teledyne-taking advantage of share overvaluation to maximize value for its owners. Thanks for telling us about the problem. However, the company is best known for its publicly traded subsidiaries: Buffett is well known for using the term “moat” to describe the kind of niche businesses with unshakeable competitive positions that Teledyne acquired.
Library Staff Details Staff view. In Singleton’s own words, “there [were] tremendous values in the stock market, but in buying stocksnot entire companies.