Negative free cash flow can be desirable
Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes
Month: July 2022
The best number of stocks to own
Too much of a good thing can be wonderful
A time of maximum pessimism
So we search for those things that other people are selling and then if the problem or adverse outlook is temporary we buy them and hold them patiently for years until the public changes its mind.
Scatter shot estimates of fair value
A group with a high anchor were prepared to pay three times as much for the same wine as a group with a low anchor
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