You should read this: Master Capital allocators

Jun 13, 2018 | Jeremy Goldfarb


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Henry Singleton made a compounded annual return of 42% (over a 12 year period) for Teledyne shareholders back in the 50's and 60's. He did much of this using a buyback strategy well before buybacks were even remotely popular. He essentially took an investment (his own company) that he had perfect information about and decided when it was appropriate to invest in it further, as opposed to looking for companies and real estate opportunities externally. Sounds boring, but isn't the "making money" part exciting enough.

 

In this article (click here), RBC analyst Tim Corney, CFA highlights buyback leaders in the Canadian market using more recent figures. While the compounded annual return is not nearly as remarkable, the performance is quite notable considering the challenges the Canadian market has faced. It's a quick read and makes some excellent points to take away.

 

For a more lengthy read, but very interesting in it's own right, click here for a link to a copy of "The Outsiders". I also have copies that I can share if you would like. Simply email me at jeremy.goldfarb@rbc.com

 

 

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