Entity Dossier
Company
Novelly
Strategic Concepts & Mechanics
Risk DoctrineNo Cross-Pledging of Crown JewelsSignature MoveDeals Hated, Strategy LovedSignature MoveNever Run Out of Cheque-Writing TimeRelationship LeverageShare the Pie to Keep the TableStrategic PatternEcho Bay Model Then Surpass ItSignature MoveKlosters Mountain as Strategic War RoomIdentity & CultureRefugee Hunger as Permanent EngineCornerstone MoveWritten Memo Then Unanimous Sign-OffIdentity & CultureReturn to Canada Only With SuccessCornerstone MoveBuy Producing Assets at Cycle Bottom, Never ExploreSignature MoveTrust Mining Operators Then Stay AwayOperating PrincipleFocus as Compensation for Ordinary TalentCornerstone MoveBorrow Against the Asset to Buy the AssetDecision FrameworkGeopolitical Disruption as Buy SignalStrategic PatternScarcity Premium as Entry SignalSignature MoveControl Without Majority Ownership
Primary Evidence
"Chicago real estate investor Sam Zell had been assisting Novelly in negotiating with the banks holding the defaulted Clark debt. Zell kept the banks at bay, assuring them that Novelly would not wind up with control in AOC Holdings. For his part in the deal Zell negotiated the right to buy, and did buy, a 6 percent stake in Horsham for US$20 million."
Source:The Golden Phoenix : A Biography of Peter Munk
"244 GOLDEN PHOENIX Instead of needing $150 million, the new Clark would require only $30 million in equity—$18 million from Horsham and $12 million from Novelly."
Source:The Golden Phoenix : A Biography of Peter Munk