Bartley J. Madden is an independent researcher. He retired as a managing director of Credit Suisse HOLT after a career in investment research and money management that included the founding of Callard Madden & Associates. That firm focused on understanding levels and changes in firms’ stock prices over long time periods and on a global basis. His early research led to the development of the CFROI valuation framework and global database that is used today by money-management firms worldwide. Madden’s current research deals with knowledge building and value creation as opposite sides of the same coin. His latest book, Value Creation Thinking, focuses on how long-term value creation begins with clarity about the purpose of the firm and emphasizes the overriding importance of advancing a firm’s knowledge-building proficiency. For many years, he has promoted a large-scale restructuring of the Food and Drug Administration summarized in the third edition of his book, Free To Choose Medicine: Better Drugs Sooner at Lower Cost.