Will Thorndike - How Skilled Capital Allocators Compound Capital - [Invest Like the Best, EP.36]
Invest Like the Best with Patrick O'Shaughnessy
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The Power of Scale in the Cable Television Business
The general pattern across the group was occasional large acquisitions. John Malone is actually the exception to that in the book because he sort of had this central insight relating to the power of scale in the cable television business. If you hold Malone aside all of the other CEOs followed this pattern where they would do very occasional very large acquisitions. Each of them made at least one acquisition that was equal to 30% or more of enterprise value the time it was made so occasional large bets which they perceived to be very high probability.
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