Care to elaborate on that?
-
-
-
Nat’s post is a great example!
End of conversation
New conversation -
-
-
Alternative win conditions is literally a thing in magic the gathering. lots of the best players figure out a way every 2-3 mths to "break" the game and figure out the fastest most consistent winning strat. Coincidentally, I know 12 MTG players closely. 11 of them invest actively
-
I love this. I want to try Magic cards, I feel like there might be something to it.
- 2 more replies
New conversation -
-
-
Good point. Difficult to find a public market CEO that knows how to cash flow a business in a low or negative growth industry vs. get caught up in failed growth schemes/acquisitions, excess G&A, compensation
-
Agreed. See hk, Japan for examples. But track record and incentive structure help you find the good ones really. In my experience, owner - operators with 10-40% of the business, and compensation significantly lower than their peer group tend to do well.
- 2 more replies
New conversation -
-
-
Some PMs who have been doing this for 40+ years don't understand the difference between a 15% FCF / market cap vs 7% FCF / EV valuation when the EV of the former is 85% debt and how those can offer similar risk-adjusted return outlooks.
-
lol, fcf to market cap is very stupid metric. One needs to look at normalized free cash flow relative to enterprise value because that is the owner earnings yield (might want to use pre-tax / pre-interest numbers cuz comparing it to EV) but lots of people miss this idea of ev/fcf
- 1 more reply
New conversation -
-
-
I don’t know if ‘alternate lose conditions’ is a real phrase but they are always there. Madoff investors had a great Sharpe ratio, until it never existed in the first place.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
FCF only matters with good capital allocation.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.