As a result of my recently enacted "Personal Reading Quota", I am about halfway through Who Says Elephants Can't Dance? I am starting to lose steam as Gerstner speaks more about strategic decisions made, as it has become more technical in nature.
For the most part, I understand what he is talking about, but it can get dry at times.
The most interesting/useful bit of philosophy from Gerstner, at least in terms of application for investment decisions, was this:
"'Free cash flow' as the single most important measure of corporate soundness and performance." (p. 5)
Many of the stock screens experts have endorsed during this financial crisis have been companies that have significant cash reserves on hand. Nothing extraordinary, but a good reminder nonetheless.
That's all I've got for now.
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