To him, a good defense means companies with strong cash flow and solid balance sheets.

But it also means encouraging companies already in the region to develop new products.

This means companies that disinvest get significantly fewer dollars for the capital they withdraw.

Such a strong financial incentive for executives to change jobs would mean growing companies suffer constant turnover in their management.

Here, we're going to be trying to put down a rebellion, and I'd guess that's going to mean different companies in different places.

That often means companies that have strong franchises or are market leaders - characteristics that also help control risk.

This lower effective tax rate meant companies paid $32 billion in such taxes instead of about $60 billion.

People are sometimes surprised that this means defending companies against pollution suits.

"We learned we do not want to short these open-ended type of names," he added, meaning companies with unlimited growth potential.

"That means companies that have lost property or information as the result of a disaster."