Henry Singleton is recognized as one of the greatest, if not the greatest (according to Warren Buffett) capital allocator of all time.
Singleton acquired Teledyne, a struggling military contractor that has just lost its most significant contract in 1960 and over the next two decades turned it into one of the largest companies in the United States while achieving huge returns for investors.
Singleton's business model was simple. In the go-go years of the 1960s, he used Teledyne's stock to acquire more than 100 companies, which were then bolted onto the business and left to their own devices to grow.
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