The evidence seems clear that those business which actively serve their many constitutencies in creative, morally thoughtful ways also, over the long run, serve their shareholders best. Companies do, infact, do well by doing good.
We believe that there is no greater power in the world than the force of a great idea. We believe that people are the lifeblood of every organization. We believe that the best companies are true meritocracies, where people rise and fall through their own contributions, not through game playing or politics. We believe that work isn't simply a paycheck; it is the ultimate expression of a fully realized self. We believe that a company's obligations extend far beyond its bottom line and its shareholders - to a wider constituency that includes employees, customers, suppliers, and the community.
However, if one has been playing the buy-and-hold game with quality securities, one has been exposed to a substantial amount of market risk because the valuations placed on these securities have implied overly rosy scenarios prone to popular revision in times of more realistic expectation. This is one of those times, but it is my feeling that the revisions have not been severe enough, the expectations not yet realistic enough. Hence, the world's best companies largely remain overpriced in the marketplace.
A man of fashion never has recourse to proverbs, and vulgar aphorisms; uses neither favourite words nor hard words, but takes great care to speak very correctly and grammatically, and to pronounce properly; that is, according to the usage of the best companies.
Our mandate is to find the 200 best companies in the world and invest in them, and find the 200 worst companies in the world and go short on them. If the 200 best don't do better than the 200 worst, you should probably be in another business.
You're creating music to pull people into a world, whether it be a visual medium where music is just one element, or a purely musical medium. Either way, you're trying to transport people and to create a connection. I've always felt that the best films and the best albums can be the best company. If people feel a little bit less alone because of something I had a hand in creating than I feel like I'm contributing to the world in a positive way.