Abstract
Like many other investors, Marathon never tires of quoting Warren Buffett. One particular comment of the Sage of Omaha has become something of a mantra at the firm: namely, Buffett’s observation that “after ten years on the job, a CEO whose company retains earnings equal to 10 per cent of the net worth will have been responsible for the deployment of more than 60 per cent of all capital at work in the business.” What this means is that investors should pay particular attention to the capital allocation skills of management.
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© 2016 Marathan Asset Management LLP
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Chancellor, E. (2016). Management Matters. In: Chancellor, E. (eds) Capital Returns. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-137-57165-6_4
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DOI: https://doi.org/10.1007/978-1-137-57165-6_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-55541-3
Online ISBN: 978-1-137-57165-6
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