Kirkland, Carl
Kleiner Perkins
Kodak
Kozlowski, Dennis
Krispy Kreme Doughnuts
Landry’s
Landstar System
Lay, Kenneth
layoffs, employee treatment
LBO. See leveraged buyout
Learning Company
learning, time spent
Lehman Brothers
Leonard, Brad
Lester, Howard
leveraged buyout (LBO)
liberal accounting standards
lifelong learners, managers as
Lincoln Electric
Ling, James
lions
liquidity needs, assessing long-term
Lister, Steve
The Little Book that Builds Wealth
Liz Claiborne
loan covenants, evaluating
location
cost advantages via
Loewen Group
long-tenured manager
long-term performance, compensation plans and
long-term planning, strategic plans versus
Louis Vuitton Moët Hennessy (LVMH)
low-cost countries, competition from
LTV
LVMH. See Louis Vuitton Moët Hennessy
M&A. See mergers and acquisitions
M&T bank
Mackey, John
Macy’s
maintenance capital expenditures
Management Discussion & Analysis (MD&A)
management style
management team, length of service
management tenure
management
buying or selling stock
closeness with customers
for emerging markets
lifestyle
manager
background as non-operator
career versus job
face-to-face assessments
promotion history
reasons for promotion
types of
manipulation
costs
earnings
Mansueto, Joe
margin calls, selling stock for
Markel Insurance
market share, potential growth of
Marshalls
materials industry
Mattel
Max Factor
McDonald’s
McFarland, John
McKesson
McKinney, Joseph
McNealy, Scott
McNerney, Jim
MD&A. See Management Discussion & Analysis
Mead Johnson
media, stocks and
Medtronic
Merck
mergers and acquisitions (M&A)
decisions about
Merrill Lynch
metrics
comparing
lasting
monitoring
sources of
Microsoft
The Money Masters
money
as motivator
making
versus loving the business
Monsanto
Montblanc
Morningstar
motivation
for acquisition
stock transactions
Motorola
Nardelli, Robert
natural hedge
Nayar, Vineet
negative working capital
Nestlé
net income, cash flow from operations compared to
net working capital, calculating
Netflix
network economics
New Mountain
new-low lists
Newell
newsletters
Nielsen Media Research
Nintendo Wii
Noe, Donald
Nokia
non-operator as manager
non-recourse debt, versus recourse
Nordstrom
Nortel
Novatel Wireless
O’Neal, Stanley
Oberton, Willard
off-balance sheet debt
one-off transactions, versus recurring
one-time expenses
open-ended questions
operating leases
operating leverage
calculating degree of
impact on earnings
theme parks and
operating metrics
operating structures
decentralized
identifying
operational improvements, strategic plan versus day-to-day changes
operational risks
evaluating
operations and logistics
operations area
operations
describing
manager experience with
Oracle
outside management, effect on business
overpayment risk
owner-operator
ownership interest, management increasing
Paccar
Packard, David
Page, Larry
pain, customer
passion
identifying
patents
Penn National Gaming
pension plans
People Are the Product: A History of AIM
PepsiCo
Perkins, Tom
personal interviews
perspective, customer’s
pessimism, investor
Pfizer
philanthropy
Philip Morris
Phoenix, University of
Pifzer
Pillowtex
PLs. See private-label products
potential growth, extrapolating through market share
PP&E. See property, plant and equipment
Praxair
predictability
price improvements
price increases, passing along
price paid, evaluating
price sensitivity
price transparency, technology and
price
competing on
raising
pricing advantages, sustainability of
pricing power
characteristics of
finding information about
source of
private-label products (PLs)
proactive
Procter & Gamble
products
customer dependency on
purchasing
professors
profit growth, revenue growth and
promotions
internal
reasons for manager’s
routes to
property, plant, and equipment (PP&E)
proxy statement, compensation system and
purchasing, ease of
Quaker Oats
Qualcomm
quality
questions
R.C. Willey
raising prices, effect on customers
Rajgopal, Shiva
rating agencies
ratios, debt and
real estate, metrics for
recession resistant
recessions, historical
Reckitt Benckiser Group
recommendations, stocks
recourse debt, versus non-recourse
recurring transactions, versus one-off
Reed, Pat
Reese, Richard
regulatory licenses
research and development
research, customer
reserves, using
restructuring charges
retailers, metrics for
retention rate, customer
return on invested capital (ROIC)
calculating
historical
improving
of an industry
usefulness of
revenue growth, profit growth and
revenue synergies
revenues
transactions generating
Revlon
RHR International
right place, right time
risks
country
currency
foreign earnings
foreign markets
inflation
measuring
overpayment
RitzCarlton
Riverstone Networks
Rochon, François
ROIC. See return on invested capital
Rollins, Kevin
Rose, Pete
Roth, John
Rutherford, John
salary, stock ownership versus
sale indicators, management activity as
sales, inflating
same-store sales
Samsung Electronics
Schwartz, Mark
schedule 13-D
Schultz, Howard
Scrushy, Richard
Seagate
secular trends, business growth due to
selling, forced
service, competing on
services
customer dependency on
high quality
purchasing
Seyhun, Nejat
shared values
shareholder letter
shares, tracking a business via
Sharpe, Isaadore
Shell
Sheth, Jagdish
short-term earnings, growth and
Silberman, Robert
Sinegal, Jim
Singleton, Harry
Sisodia, Rajendra
Skype Technologies
slowing growth
SOE. See state-owned enterprises
Sonkin, Paul
sourcesevaluating
interview
locating
of supplies
Southwest Airlines
balance sheet of
speed of growth
Spirit Airlines
spreadsheet, tracking investments via
Stahl, Jack
stakeholders, benefitting
Staples
Starbucks
state-owned enterprises (SOE)
static ratios
Stemberg, Thomas
Stericycle
sticky accounts
stock awards, restricted
stock options dilution, offsetting
stock options
employees
managers and
stock ownership
required
salary versus
stock returns, employee relations and
stock screens, using
stock
buying back
financing acquisitions with
management buying or selling
transaction motivation
strategic plans
failure of
long-term planning versus
setting financial goals
Strayer Education
structural advantage
subscription-type firms, metrics for
substitute products, risks from
Sun Microsystems
Sunbeam
suppliers
dependence on
innovation by
relationship with
supplies, sources of
supply chain management
sustainable competitive advantage
finding business with
structural
switching costs
synergy
Sysco
Tan, Seng Hock
Taubman, Alfred
tax purposes, selling stock for
taxes, generally accepted accounting principles versus IRS
technology
price transparency and
Tesco
TEV. See total enterprise value
theme parks, operating leverage
Thiry, Kent
Thomas, David
Time Warner
time, spent learning
TJ Maxx
Tommy Hilfiger
total enterprise value (TEV)
track record, manager’s
trade associations
trade journals
Train, John
trends, fads versus
Tyco
Tyler Corporation
understanding, of acquired business
Unilever
University of Phoenix
Urban Outfitters
US Air
UTI Worldwide
Valkenaar, Lee
valuation, as investment filter
value creation, long-term
Value Line
values, business
Van Cleef & Arpels
variable costs
Choice Hotels
identifying
Southwest Airlines
VCA Antech
Veer, Jeroen van de
Viagra
Volkswagen AG
W.P. Stewart
wage inflation
Wal-Mart
Wall Street Journal
Walton, Sam
Waste Management
Welch, Jack
Western Union
Whole Foods Market
Williams-Sonoma
Williams, Frank J.
Wilmers, Robert
Wolfe, David
working capital
generating
impact on cash flows
needs
negative
sustainability of changes
WorldCom
Young, Larry
Zaslav, David
The Investment Checklist Page 42