1. 5 Principles of Enduring Success Christian Stadler

2. Top Companies NokiaEricsson HSBCStandard Chartered GlaxoSmithKlineWellcome Legal & GeneralPrudential ShellBP LafargeCiments Francais Allianz Aachener u. Muenchner Vers. SiemensAEG Munich RECologne RE Comparison Companies Cumulative Stock Returns of unit 1 invested 1953 – 2006 Top companies Comparison Companies 5504 units of currency 780 units of currency factor Top Comp Identifying top companies

3. 5 Principles of Enduring Success Exploit before you explore Diversify into related products and markets Learn from your mistakes Be conservative in finances and beyond Change in culturally sensitive way

4. Be Innovative But More Important Exploit Your Innovations

5. Diversify into related businesses 1890 + 1900 + 1922 + 2001

6. Learn from your mistakes

7. Conservative Finances Debt to Equity Ration

8. Change in culturally sensitive way

9. www.enduringsuccess.com www.twitter/EnduringSuccess Great companies are intelligently conservative