Entity Dossier
entity
Nortel
Strategic Concepts & Mechanics
Operating PrincipleTime Value of Invested Cash Obsession
Signature MoveOwner Mindset Over Employee Thinking
Capital StrategyCash Parking During Opportunity Drought
Signature MoveGlobal Ground-Truth Investigation
Cornerstone MoveArbitrage and Workout Situations
Signature MoveContrarian Loneliness as Edge
Risk DoctrineMargin of Safety as Liquidation Floor
Signature MoveBalance Sheet Forensics Over Earnings
Signature MoveDouble-and-Sell-Half Discipline
Cornerstone MoveNet-Net Working Capital Acquisition
Strategic PatternTroubled Economies as Value Hunting Grounds
Decision FrameworkBusiness Understanding Before Investment
Risk DoctrineConcentration Over Diversification Logic
Decision FrameworkDiscounted Cash Flow Skepticism
Strategic PatternQuantitative Screening Before Qualitative
Primary Evidence
"WHAT MAKES A GREAT SHORTING POLICY? Not so long ago Peter Ackerman wrote an insightful piece asking rhetorically “What Makes a Great Buy?” In the wake of Nortel this is an attempt at the flip side. •You must have overvaluation to start with. High book values and price earnings ratios with non-existent or very low dividend yields are a good"
Source:Routines and Orgies - The Life of Peter Cundill, Financial Genius, Philosopher, and Philanthropist