The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
shows 
every show 44 of 44
Black: 5-year ROIC trajectory correlates directly with stock performance quintiles
“There is a one-to-one correlation between the direction of the ROIC over a five-year period of time and stock performance. You know, so if you break the market down into five quintiles from the top quintile where they have the most rapidly rising ROICs to the …”
Black: 50% of 2,000 active managers beat their benchmark over 10 years
“So we looked at all active managers in the database. There were 2000 that had at least a 10 year track record. And of those 2000, 50% of them beat their respective markets, whether it's EM, small cap, bonds.”
Black: Multi-billion dollar momentum shops from past decades no longer exist
“How many years ago, 1520 years ago, there were a bunch of multi-billion dollar momentum shops and I can't I can't really think of one right now that is still in existence.”
Black: Costco doubles Sam's Club on sales density and ROIC
“But you look at the financial metrics of Costco, they're twice on every metric what goes on at Sam's Club. You know, same store sales are four or five percent at Costco. There may be one or two at Sam's Club. Sales per square foot at Costco, a thousand bucks, …”
Black: Emerging middle class spending tailwind will last 15 to 20 years
“We'd argue that It's a way better idea to buy companies that sell products as these people get richer. That's a beautiful tale, and that's not going away for 15 or 20 years.”
Black: WCM lost almost all its $4B AUM after five years underperforming
“Running a large cap US domestic portfolio, you underperformed dramatically for five years. You get fired by pretty much all of that four billion dollars in assets.”
Black: WCM had only $3M in international strategy after five years
“That five-year record's phenomenal, but even after five years, we literally had three million dollars in the portfolio.”
Black: Costco founder Jim Sinegal never made over $300,000 annually
“Founder of the company, Jim Senegal, owned a lot of shares, but never made more than 300,000 dollars a year.”
Black: WCM grew from $200M to $26B in AUM
“As a result, we've grown from two hundred million dollars to twenty six billion dollars in assets under management.”