As a potential buyer of a business, don’t get wrapped up in financial jargon and overcomplicated questions
Questions To Ask: What does this business do? Why do people buy this business and not the other business? How do you make money? How did this start? How did you get here?
Lesson: “And so it’s just asking really simple questions, like why is the
Legendary Investor Bill Gurley on Investing Rules, Finding Outliers, Insights from Jeff Bezos and Howard Marks, Must-Read Books, Creating True Competitive Advantages, Open-Source Strategies, Adapting Mental Models to New Realities, and More (#651) - The Blog of Author Tim Ferriss
Barriers to scaling investment managers - really good memo
What they tell you:
If you invested $100 in Apple's IPO and and held shares until today, that investment would be worth about $100,000.
What they don't tell you:
If you invested $100 in Apple's IPO and held shares until today, you would've endured 23 declines of 20% or more.