Nelson Peltz @The Deal’s annual corporate governance conference conference Mulls GE Breakup

Notes from the The Deal’s annual corporate governance conference which took place on June 7th 2018. Full notes here.

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Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid?

Michael Mauboussin Tips From Great Investors [Pt.2]

charles munger moat valuewalk Charlie Munger competitive advantage great companies great brands GARP value investing value investors Google Alphabet profit margins Berkshire HathawayThis is the second part of a short series on Michael J. Mauboussin's research document reflecting on 30 years of Wall Street analysis published in 2016. Q3 2020 hedge fund letters, conferences and more The document outlined Mauboussin's observations of successful investors throughout his three decades on the Street. This article starts at point six. Read More


Nelson Peltz

  • White paper and Proctor
  • Proxy fight is what nobody wants
  • When you come in with proxy fight with board, you come in that shareholders want you there
  • Call for direct accountability
  • Matrix organization the death of companies
  • You got to check every box, if it does get check, it doesn’t get done
  • Can’t call for a person who is in charge and hold them accountable
  • Everyone has input and no one is responsible for what is going on
  • P&G has 10k people in corporate
  • Goal is to have 1k people in corporate
  • 3 global business units who are accountable
  • 20 bill businesses
  • We don’t want 10k people to clog up
  • Goal is to create ownership mentality in the board
  • Have board think entire net worth tide in that company
  • Not honoree, should be responsibility
  • Use to be B2B, not paradigm B2C, more than just business, go directly to consumers
  • Small companies can now attack
  • Big companies want to fight disruption, knee jerk reaction
  • Should embrace it
  • Should disrupt themselves
  • They to can have digital brands, can speak directly to consumers
  • If they do that, huge balance sheet, all the other advantages once they change
  • Must be able to deal with consumer differently
  • Hard to deal with undisclosed liability
  • Long term care
  • 18 board, down to 12, 11 step when nelson stepped on
  • Had undisclosed liability
  • Got to ask questions when your on the board?
  • Management has monopoly of information
  • Beware of show and tell in board
  • Must ask questions when on board
  • Consumer products down
  • Increase in labor
  • Smaller people can’t compete
  • Big guys in restaurant can withstand it
  • Growing all tomatoes indoor, hydroponically grown in US and Canada in 12 locations

Continues here