The Best-Performing Stock in S&P 500 History (621,000%)

In this episode of 5 Minutes in the Lower Middle Market, we study one of the greatest business builders of the last 50 years: Ken Langone.Most people know Langone as the co-founder of The Home Depot. Fewer know the story of how it all started: backing a recently fired executive, betting on people before credentials, and building a culture where thousands of employees became owners.We explore Langone's philosophy of capitalism, why he believed ownership changes behavior, how Home Depot became the best-performing stock in S&P 500 history through 2018, and why he argues that people—not products, capital, or strategy—are ultimately the differentiator.Timestamps0:00 Ken Langone's view of capitalism0:33 The simple idea behind Home Depot's success1:00 Backing Bernie Marcus after he was fired1:50 The investment that became a 621,000% return2:58 How 3,000 parking lot workers became millionaires3:09 The cashier who went on to run 1,700 stores3:43 The biggest lesson from Ken Langone