Quote of the day by Henry Singleton: "Our attitude toward cash generation and asset management came out of our own thought process. It is not copied. After we acquired a number of businesses we reflected on aspects of business. Our own conclusion was that the key was cash flow."

Henry Singleton, the legendary businessman and co-founder of Teledyne, placed cash generation at the heart of his approach to building and managing businesses. His philosophy was rooted in a simple idea: a company’s ability to generate cash provides the flexibility and financial strength needed to make sound long-term decisions.

Beyond Accounting Profits