#003 David Cote on Winning Now, Winning Later
The Julia La Roche Show
00:00
How to Overcome Short Termism and Focus on the Long Term
I think what you did at Honeywell is just one of those tremendous, you know, stories. One that I think folks will talk about for a long, long time. The short termism kind of to branch it out a little bit is I'm fond of this concept that says success is about achieving two seemingly conflicting things at the same time. And with Honeywell, our accounting was ridiculously aggressive and unhealthy. We were generating 69 cents of cash for every dollar or earnings we generated. That had been true for over a decade. 20% of our earnings were coming from one time items where you book a game because you did something else.
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