New Threads Only:  Add to Google Reader or Homepage
New Threads & Replies:  Add to Google Reader or Homepage
Forums are for serious investors only. GuruFocus Forum Rules.

Forum List » Guru News and Commentaries
Guru News, Stock picks and commentaries
New Topic Search
Goto Thread: PreviousNext
Goto: Forum ListMessage ListNew TopicSearchLog In
Andrew Sorkin on a Largely Forgotten Buffett Doppelganger in 'For Buffett, the Past Isn’t Always Prologue'
Posted by: Holly LaFon (IP Logged)
Date: May 10, 2013 05:14PM

Published May 6 in Dealbook, the article offers more insight into the name Buffett brought up at his annual shareholder meeting this year: Henry E. Singleton:

OMAHA – A little under an hour into the question-and-answer session at Berkshire Hathaway (BRK.A)(BRK.B)’s annual meeting here on Saturday, a name searing with history but now largely forgotten was mentioned: Henry E. Singleton.

Mr. Singleton was, arguably, the Warren E. Buffett of the 1960s and ’70s, though hardly famous. His company, Teledyne, became a remarkably successful and huge conglomerate, with an assortment of related — and unrelated — businesses. Like Mr. Buffett, Mr. Singleton was a modest man with a rare sense of rationality. He didn’t pay his shareholders dividends; he was convinced he could allocate the money more profitably. And he was right more often than not.

But after spending decades creating one of the world’s largest conglomerates, Mr. Singleton, who stepped down as chief executive in 1986 but remained as chairman, decided to break it into three companies in the early 1990s before he died at age 82in 1999. He decided that Teledyne had become too big and unwieldy for a single manager to effectively oversee and expand.

Continue reading the piece here.




Guru Discussed: Warren Buffett: Current Portfolio, Stock Picks
Stocks Discussed: BRK.A, BRK.B,
Rate this post:

Rating: 3.5/5 (4 votes)





Sorry, only registered users may post in this forum.

Please Login if you have an account or Create a Free Account if you don't
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK