International Growth Highlights Wal-Mart’s 2Q
We own WalMart (WMT) because it adopted value-based management a few years back. It made return on invested capital its overarching objective. The result was a change in strategy. Instead of driving sales growth by investing vast amounts in new stores in already saturated markets, WMT cut back on domestic capital spending and drove US productivity.
How British rules, Chinese families and “choice” created $7 trillion of growth #TCOT
As if you couldn't tell, I am fascinated by "rules", and the explicit and implicit incentives they create. Human progress and our pursuit of happiness should be the overarching objective of our institutions at all levels. At the firm level we should encourage rules that lead to the most efficient use of our resources. I contend that those rules start with the right overarching objective - value growth. Our governments should employ good rules too, and looking out around the world the rules that are most successful are those
BERK: The stock market rallied today partly because Australia's Central Bank did not raise interest rates as expected. Of course, some great earnings numbers and the manufacturing news from yesterday was a big relief too. But the small rebound has not yet erased a very bad January - especially last week. Much of the stock market action so far this year has validated our
In China, They REALLY Hate the Rich - The Wealth Report - WSJ. Forget taxing bonuses or forcing the rich to pay for health care. When it comes to resenting the wealthy, China is far outpacing the U.S. and Briton.
