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I know different ways of looking at things. I have my stockholders, and I feel a very keen responsibility to the shareholders, but I feel that the main responsibility I have to them is to have the stock appreciate. And you only have it appreciate by reinvesting as much as you can back in the business. And that's what we've done: and that has been my philosophy on running the business.

Walt Disney#92

BusinessGrowthManagementResponsibilityInvestment

About this quote

What does it mean?
Disney's main responsibility to shareholders is stock appreciation through reinvestment in the business.
In plain terms
He reinvests money to grow stock value for shareholders.
What can you take from it?
Reinvestment drives long-term shareholder value.

Where it applies

  • running a company
  • managing investments

Putting it to work

  • reinvest profits
  • focus on growth

Questions to consider

  • How do you balance reinvestment vs dividends?
  • What is your fiduciary duty?

Another view

Short-term returns might be preferred by some investors.

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