Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes
I find it better to analyze a company’s cash flows, maintenance capex, growth capex and free cash flow in real dollar terms and measure them against the true value of the capital management has use of
The first step for investors is to come to a new understanding of reported earnings and the book value of equity.
I can vote with my feet.
A slowdown in business dynamism means that entrenched firms have less to fear from upstarts
Many investors have lost money trying to tie their fortunes to a trend such as demographics and an aging population.
You should wish your earnings to be reinvested if they can be expected to earn high returns
“If you can look into the seeds of time,
And say which grain will grow and which will not,
Speak then to me.”
The small picture is its specialist technical, engineering, construction and operational skill and economic performance
63 per cent of respondents said the pressure to demonstrate short-term financial performance had increased over the last five years