The following segment was excerpted from this fund letter.
Next Plc (NXGPF) [NXT:LSE]
Cheap: Acquire one of the UK's top performers at nearly a 7% free cash flow yield
Owner-operator: Simon Wolfson, CEO, excellent capital allocator
Disclosures: Simple business, wonderful shareholder letters
Excellent financial condition: Investment-grade balance sheet
Simon Wolfson, the CEO of Next, got the job at age of 33. That made him the youngest CEO ever to lead a UK blue-chip company. He's been on the job for 19 years now. Here is the Financial Times in January