Discovering Doriot Societies
is idea defied financial logic. It would take too on to become one of Harvard’s most influential Hlong, the risks were too high, and the rewards professors, whose 40-year teaching span inspired too small. Wall Street experts said it’d never work. some of the most prominent executives of the day, But, never say never. Proving the naysayers including Fred Smith, founder of Federal Express, wrong, this man watched a single investment earn and Ralph Hoagland, co-founder of CVS Corp. over 500,000 percent — seeing that investment In 1940, he received his U.S. citizenship and, more than double every year for nine straight years. the following year, enlisted in the U.S. Army. A It’s a mind-boggling number. To put it in lieutenant colonel and chief of military planning perspective, if you invested $1,000, a 500,000 for the Quartermaster Corps, Doriot put his percent increase would yield a $5 million windfall. manufacturing skills to good use by upgrading That’s impressive, considering this was an idea that military equipment, which earned him a wasn’t supposed to be viable. promotion to brigadier general. His improvements That alone would be a great ending to the story, included better shoes, cold-weather gear, uniforms, but it marked just the beginning of something tents, sunscreens, insecticides, freeze-dried foods, that would turn this man’s seemingly strange idea and powdered coffee. into industry standard practice. He changed the Then, due to a shortage of metallic armor in way we seek opportunities, the way we calculate 1942, he was called to oversee the invention of a risks, and the way we make serious money.
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