I used to really dig following this guy. I read a lot of his blogposts and was awed by a lot of what I read, much of which I didn’t understand. Then I read this. It’s all wrong. And instead of admitting that, he just engaged in hand-waving. I don’t pretend to be a successfulhttps://twitter.com/LT3000Lyall/status/1240139848125734912 …
But that doesn’t make sense when you’re retiring 1 in 15 instead of 1 in 16 shares. In any case, my point about market cap vs total earnings is the meat of my point.
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Ok to be fair, I re-read it and didn't do it the way I recalled. Will grant the point. I assumed buyback takes place throughout the year at constant 15x earnings. You're right if it was 100% at end of year EPSg would be 6.25% not 6.67%. But I don't see how it changes conclusion?
Thanks. Twitter will use this to make your timeline better. UndoUndo
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