Entity Dossier
entity
Peter Ackerman
Strategic Concepts & Mechanics
Strategic PatternProcess of Bites, Not Grand Plans
Decision FrameworkCash Flow Over Earnings as Debt Survival Test
Relationship LeverageHighly Confident as Substitute for Actual Capital
Capital StrategyInterest Deductibility as Leveraged Assault Fuel
Competitive AdvantageNOL as Bidding War Nuclear Option
Signature MoveSpeed-of-Sale as Debt Survival Doctrine
Signature MoveLawyer as Deal Principal, Not Hired Gun
Signature MoveParis Apartment Discipline
Signature MoveAll Debt Disguised as Equity
Cornerstone MoveBuy the Whole, Sell Everything But the Crown Jewel
Cornerstone MoveBlind Pool Before the Target Exists
Cornerstone MoveBribe the Gatekeeper, Storm the Castle
Cornerstone MoveBankruptcy's Tax Corpse as Acquisition Weapon
Competitive AdvantageTax Arbitrage as Structural Weapon
Operating PrincipleProfessional Manager Decay Across Generations
Risk DoctrineNever Cut Back a Committed Deal
Signature MoveMilken: Four-Thirty AM Cathedral-Builder With No Office
Capital StrategyVenture Capital Masquerading as Debt
Signature MovePeltz: Spittle-on-the-Check Persistence from Near-Broke
Signature MovePerelman: Borrowed $1.9M to a Boeing 727 in Seven Years
Cornerstone MoveManufactured Credibility from Thin Air
Decision FrameworkContra-Thinking as Default Mental Operating System
Identity & CultureForced Savings as Loyalty Handcuffs
Cornerstone MoveCash Flow Over Earnings as the Only Truth
Cornerstone MoveBuy the Core, Sell the Pieces, Erase the Debt
Signature MoveKingsley: Mount Everest Desk, Twenty-Year Sounding Board
Signature MoveIcahn: Wrestling-a-Ghost Negotiation Until the Last Penny
Cornerstone MoveOwner's Equity as the Non-Negotiable Discipline
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
"Gary Winnick, Peter Ackerman, Dort Cameron, Charles Causey"
Source:The Predators' Ball
"Gary Winnick, Peter Ackerman, Dort Cameron, Charles Causey"
Source:Predator's Ball
"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