Nelson Peltz Quotes
101 Nelson Peltz Quotes
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[On Western Asset a unit of Legg Mason in October 2011] Western will lead the way. Western’s performance has been unbelieveable. We did not think they would turn their three year numbers around as quickly as they did.
Nelson Peltz
[In October 2011] We like the way the arrows are pointing at Legg Mason. Management has embarked on a strategy we agree with. We believe it is just a matter of time before the stock price reflects the merits of the execution of this strategy.
Nelson Peltz
We like to see the lowest prices possible. But when all the companies we look at in North America and Europe are well run, we’ll have to close our doors.
Nelson Peltz
Many companies simply aren’t living up to their potential and as a result, are selling at low multiples of cash flow.
Nelson Peltz
We invest where we can assemble a real plan to fix the company, and drive a major improvement in performance.
Nelson Peltz
The three key ingredients are: First, companies that sell at reduced multiples and, second are clearly not living up to their potential, and third, where we can create a plan to substantially enhance their earnings.
Nelson Peltz
We’re attracted to everything consumer.
Nelson Peltz
[In May 2011] The M&A market is just getting started. I’m surprised it hasn’t gotten hotter even faster.
Nelson Peltz
[In May 2011] The dollar is so darn weak that you’d think foreign players would be making lots of purchases in the U.S.
Nelson Peltz
[In May 2011] Our portfolio is filled with companies with strategic value to potential acquirers.
Nelson Peltz
We believe for the most part that companies can heal themselves in the public markets. They don’t necessarily have to go private and take on six or seven times leverage to improve.
Nelson Peltz
Diversification is for people who don’t have conviction. We can’t be brilliant about 50 companies. But we can be pretty smart about six or eight.
Nelson Peltz
The company doesn’t know we’re an investor, because we’ve purchased 4.9%, so our stake is still undisclosed. We stay out of the public eye until we have the plan. When we first call management, it’s the first time they’ve heard of us. We tell them by working with us, we believe that by executing our operational plan yur earnings and multiple will go up, and the world will be a better place.
Nelson Peltz
[On him investing in a company] When a company gets its first call, they’re usually upset. But once we talk to them, we tell them, ‘We’re not here to fire you. We see a great way to make your company more profitable.’
Nelson Peltz
[In May 2011] Now you find people who are a little wealthier who find no shame in shopping at Family Dollar, or other dollar stores.
Nelson Peltz
[In May 2011] Tiffany sold watches only in its own stores. Now Tiffany watches are sold in 1,500 stores.
Nelson Peltz
[In May 2011] We bought Heinz stock when its price was depressed, and when Heinz was paying an attractive dividend. Our model is designed to be safe. The risk-reward tradeoff is skewed towards safety.
Nelson Peltz
We like big dividend payers and investment grade companies. Those companies will not catch cold and die…
Nelson Peltz
I don’t set a time horizon for our investments, but if you look back over 25 years, we average just under three years as a major shareholder. In 2008, we set the clock back and stayed longer in our investments because the markets were so weak.
Nelson Peltz
We understand why Legg Mason is misunderstood.
Nelson Peltz
You have to ask questions that you intuitively know the answer to.
Nelson Peltz
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