Singleton: Trading Divisions for Multiple Arbitrage Is Repulsive Financial Engineering
Shane Parrish · Henry Singleton: The Greatest Capital Allocator in History [Outliers] · Apr 22, 2025 · at 44:38
Host Shane Parrish quotes Teledyne founder Henry Singleton addressing Wall Street pressure to execute short-term financial engineering and spinoffs.
0:00 / 0:19exact quote · 19.4s
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“Companies that will sell one division and buy another because today this division generally sports a low multiple, and the one they're buying has a high multiple, and they think that may rub off on the whole company. That absolutely turns me off. The whole concept is repulsive. We don't do things like that. We look at the economic long-term possibilities.”
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