A crucial understanding of the nature of corporate profitability is that it is a zero-sum game. Profits enjoyed by corporations must be financed by one of three macroeconomic entities dissaving: households, governments, or foreigners. Alternatively, profits can be generated by businesses choosing to reinvest in aggregate. This understanding allows

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Given that I am a macro investor I look at cues to explain aggregate profits of all firms of the market. Individual firm’s profit is a produce of how well it runs its operations and how it is able to out-compete others in creating good products at low cost with good sales and distribution strategies. Assessing all these parameters is the job of my

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P u r p o s e i s n o t t h e s o l e p u r s u i t o f p r o Ğ t s b u t t h e a n i m a t i n g f o r c e f o r a c h ie v i n g t h e m . P r o Ğ t s a r e i n n o w a y i n c o n s i s t e n t w i t h p u r p o s e – i n f a c t , p r o Ğ t s a n d p u r p o s e a r e i n e x t r i c a b l y l i n k e d .