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Goddess Fortuna
History & Inspiration
Table Of Contents


I. Core Principals
    a. Postmodern Corporate Finance - Journal of Applied Corporate Finance
    b. In Need of Internal Capitalism - Buona Fortuna!
    c. An Internal Capitalism Checkup - Buona Fortuna!

    d. Are Your Investors in for the Long Haul? -
    e. The Envelope, Please: The 2011 Capital Deployment Awards -
    f. A Fresh Look at the Required Return - Buona Fortuna!
    g.  Beating the Market the Right Way – London Business School Review

II. Motivating, Measuring and Incentivizing the Organization
     a. Be Your Own Activist - Buona Fortuna!
     b. Building a Better Business by Thinking Like an Investor - Buona Fortuna!
     c. Don't Be Too Preoccupied with Return on Capital - Buona Fortuna!
     d. Motivating Shareholder Value - Buona Fortuna!
     e. Forget Free Cash a Period Performance Measure - Buona Fortuna!
     f.  Driving the Company's Value through an Ownership Mindset - CFO Summit
     g. How Strategic Caution Can Limit Value Creation - Buona Fortuna!
     h.  Are Bonuses An Obstacle To Shareholder Value -
     i.  Long-Term Incentives Spur Owner-Like Thinking -
     j.  Past Performance Is No Guarantee -
     k.  Virtues of Fact Based Decision Making -
     l.   Michael Dell’s False Dichotomy -
     m.  Be Your Own Activist - JACF(PDF Opens in New Window)
     n.  Activist Investors and Their Implications for Corporate Managers- JACF(PDF Opens in New Window)
     o.  The Annual Budget May Be Past Its Useful Life –
    p.  Top 10 Bad Management Behaviors –
    q.  Economic Profit: A Better Way to Measure Performance –
    r.  ‘Shareholder Value’ for Private Companies –
    s.  Why Continuous Improvement Beats Annual Budgeting –
    t.  Stop The Quarterly Madness –
    u.  Avoiding the Mood Swings of Mr. Market –
    v.   How to Reduce Investment Decision Complexity –
    w.   Be Cautious About ‘Sweating Your Assets’ –
    x.   A Theory of Relativity Misses the Mark –

III. Corporate Strategy - Managing and Growing the Business
       a. Buy Low Sell High - Really! - Buona Fortuna!
       b. Driving Growth with Finance - CFO Rising West
       c. Who Says M&A Doesn't Create Value? - Buona Fortuna!
       d. Want to be a Great Acquirer? Do More Deals - Buona Fortuna!
       e. Is Corporate Divorce the Answer? - Buona Fortuna!
       f. Are You Reinvesting Enough? -
       g. Is it Time to Breakup? -
       h. Too Big to Succeed? -
       i. Acquirer TSR Hinges on Economic Results - Buona Fortuna!
       j. Are You Wasting Time on Poor Performers? -
       k. Do Acquisition Premiums Matter -
       l. How Corporate Diversity & Size Influence Spinoffs & Other Breakups - Journal of Applied Corporate Finance
      m. Is Fear Dampening Corporate Performance? -
      n. How Good, Old-Fashioned Sales Growth Drives Value -
      o. Rx for Emerging-Market Investment: Lower Hurdle Rates for Growing Nations -
      p. The Case for Working Capital -
      q. Can Operating Leases Be Strategic? -
      r. Consultants' Commentary: FX Trends -
      s. Is Financial Leverage Good for Shareholders? -
      t. Why Isn't the Stock Market Higher? -
     u. The Unhealthy Fear Of Risk -
     v. Everything Must Earn An ROI -
     w. Why Some Stocks Perform Better Than Others -
     x. Depreciation Can Distort Returns -
     y. Who Cares About Quarterly EPS for Facebook -
     z. Clearing the Bar: Setting Hurdle Rates that Properly Encourage Growth – AFP (PDF- Opens in new window)
     1. Test Your Pricing Strategy, Sandy Reminds CFOs –
     2. Is Accounting Blocking R&D Investments? –
     3. The Case For Shareholder Value Focus –
     4. 2012 Capital Deployment Awards –
     5. The Sum Of All Investments –
     6. What Fortune Brands' bustup portends for investors – Crain’s
     7. Are Your Growth Investments Effective? –
     8. Dead or Alive: Unwanted – The Deal Pipeline
     9. Is it Time to Prune the Portfolio? -
     10. Saks: A Good Deal For All –
     11. Don't Overreact to Cycles –
     12. Bernankes Wet Noodle –
     13. How To Get Ready For Economic Cycles –
     14. How Successfull Is Your CEO –
     15. Keeping Activist Investors Away –
     16. Four Ways High Share Price Companies Can Boost Value –
     17. Ugh! It's Budget Approval Time –
     18. Why Not Pay Executives Like Private Equity Does? –
     19. Capital Deployment Roundtable: A Discussion of Corporate Investment and Payout Policy- JACF (PDF - Opens in new window)
     20. Are You Prepared for a Downturn?-
     21. Common Beliefs that Lead to Unprofitable Pricing-
     22. Partying Like It’s 1999-
     23. What Makes a First-Time CEO Vulnerable?-
     24. Partnering with a New CEO to Boost Shareholder Returns-
     25. Do We Remember How to Grow?-
     26. Is a Higher Valuation Multiple Always Better-
     27. Brand Value Drives Corporate Value-

IV. Capital Distribution Policy and Impact
       a. Are Buybacks the Best We Can Do? - Buona Fortuna!
       b. Is Cash Still King? -
       c. When do Dividends Really Matter? -
       d. What's Your Return on Buybacks? -
       e.  Stock Buybacks: Buy high and sell low - Fortune
       f. U.S. Companies wonder where to put all that cash - Crain's New York
       g. Is Excess Cash a Problem? -
       h. How To Make Hay Out Of Buybacks -
       i. Why To Choose Growth Over Buybacks -
       j. A User’s Guide to Buyback ROI, Buyback Strategy, and Buyback Effectiveness – Buona Fortuna!
       k. Advocates Overrating the Benefits of Buybacks –
       l. The Most and Least Effective Stock Buyback Programs – Institutional Investor
       m. Buybacks Expected To Increase -NY Times
       n. Delta Air Lines: Ready For Unexpected Turbulence? - Seeking Alpha
       o. Shamu-Sized Expectations For SeaWorld Entertaiment - Seeking Alpha
       p. Avoid Those Rose-Colored Dividends -
       q. Three Reasons to Shed Your Idle Assets -
       r. 2017 Buyback ROI Report - - Download PDF
       s. 4 ‘Buyback’ Stocks Worth Buying -
How to Tell Good Buybacks from Bad Ones
Reinvestment Rate, Leverage, and the Commodity Cycle

V. Industry Insights
Capital deployment in oil and gas: Are you reinvesting enough? - Oil & Gas Finance Journal
       b. Chugging Along - How Transportation Uses Capital -
       c. Time for a New Shirt? -
       d. Growing Retailers Spark High Returns -
       e. For Consumer Products Makers, Sales Growth Spurs Share Prices -
        f. Why Are Wholesalers Protecting High Returns? -
       g. The Prescription for Pharma Is Revenue Growth -
       h. Should Medical Device Companies Make or Buy Their Growth? -
       i. Media Business: Adapt or Face Nightmare of Change -
       j. In Tech, It’s How Well You Invest that Matters -
       k. In Tech, Return Measures are Better than Margins -
       l. In Tech, One Measure Rises Above the Rest -
       m. Amazon: A Case Study in Tech Valuation -
       n. How Corporations Subsidize the Federal Debt -
       o. Drivers of Shareholder Returns in Tech Industries- JACF (PDF opens in a new window)
       p. Why Great Health Care Companies Aren’t Necessarily Great Stocks -
       q. In Health Care, Reinvestment Outshines Dividends, Buybacks, Debt -
       r. Improving the Health of Healthcare Companies
       s. A Young Biotech Firm’s Dilemma -

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