This is exactly the point towards outperforming the market. Quality at any price investors might not want to hear that, but ONLY price matters in investing. I can't stop repeating myself, but the only way to beat the market over the long-term is by buying cheap, cheap, cheap.…
June 14, 2023, 9:08 a.m.
This is exactly the point towards outperforming the market. Quality at any price investors might not want to hear that, but ONLY price matters in investing. I can't stop repeating myself, but the only way to beat the market over the long-term is by buying cheap, cheap, cheap.…
June 14, 2023, 9:03 a.m.
June 12, 2023, 6:21 p.m.
@MoS_Investing @Dont_Dilute You forgot a third one: Risk management. Selling shares without having an opportunity available can be risk management. Holding into a stock that’s expensive is bad risk management.
June 8, 2023, 6:06 a.m.
If someone has some merchandise of Enron, Solarworld, Lehman or other „great historical businesses“.
June 3, 2023, 8:26 a.m.
June 3, 2023, 7:52 a.m.
@long_equity @Josue46809943 @hurdle_rate I've read through your book. This is how I formed my opinion. I don't want to judge and not offend you, but there's not much depth. Maybe you kept it high level on purpose. What do I know.
June 2, 2023, 9 a.m.
@long_equity @Josue46809943 @hurdle_rate These two factors, quality and valuation, are mutually influential. Valuation is positively affected by quality, which is evident through enhanced growth rates, stable profit margins, consistent cash flows, and improved predictability. It starts with valuation and ends with…
June 2, 2023, 8:53 a.m.
@long_equity @hurdle_rate They are responsible for <5% (<8% including materials).
June 2, 2023, 8:39 a.m.
@long_equity @hurdle_rate As Tristan mentioned, their shares trade at an avg. 5% yield vs your 2.7%. MSCI world Quality had a 11% CAGR. It's ok If that's what you aim for. I am sceptical about those returns. I assume they would have been much lower without low interest rates from 2008 to 2020.
June 2, 2023, 8:37 a.m.
Feel encouraged to like ❤️ or retweet 🔁 the original tweet if you want more of the Q&A Format. If there are any other topics you would like me to address or if you have any disagreements, please feel free to send me a private message (PM) or leave a comment below. Content is…
June 1, 2023, 4:20 p.m.
Please feel encouraged to like ❤️ or retweet 🔁 the original tweet if you desire more of the Q&A Format. If there are any other topics you would like me to address or if you have any disagreements, please feel free to send me a private message (PM) or leave a comment below. The…
June 1, 2023, 4:19 p.m.
Common mistakes in Working Capital estimation and it's importance in valuation Part 2/2 On your point regarding “excluding working capital” are you saying to subtract changes in working capital or to just not include it in the calculation of owner earnings at all? if the former,…
June 1, 2023, 4:14 p.m.
Common mistakes in Working Capital estimation and it's importance in valuation Part 2/2 On your point regarding “excluding working capital” are you saying to subtract changes in working capital or to just not include it in the calculation of owner earnings at all? if the former,…
June 1, 2023, 4:13 p.m.
If you like that Q&A format and want me to continue, feel free liking (or RT) the initial tweet. Feel free to ask more questions and challenge my tweets if you disagree. Content is driven by your questions & comments.
June 1, 2023, 4:08 p.m.
Growth vs. Maintenance (Working Capital) Part 2/2 On your point regarding “excluding working capital” are you saying to subtract changes in working capital or to just not include it in the calculation of owner earnings at all? if the former, how do you go about determining the…
June 1, 2023, 4:07 p.m.
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May 31, 2023, 6:57 a.m.
Growth vs. Maintenance (Working Capital) Part 1/2 On your point regarding “excluding working capital” are you saying to subtract changes in working capital or to just not include it in the calculation of owner earnings at all? if the former, how do you go about determining the…
May 31, 2023, 6:49 a.m.
Growth vs. Maintenance (Working Capital) On your point regarding “excluding working capital” are you saying to subtract changes in working capital or to just not include it in the calculation of owner earnings at all? if the former, how do you go about determining the…
May 31, 2023, 4:50 a.m.
May 30, 2023, 7:48 p.m.
@IrnestKaplan Thanks Irnest! Appreciate that you like it. I guess, it’s a very common mistake beginners make as many don’t understand free cash flow and working capital.
May 30, 2023, 7:43 p.m.
