Daniel Bakalarz
- the ability of accounting numbers to represent economic value is severely limited. Next, he emphasized that competitive strategy analysis and valuation should be joined at the hip. The litmus test of a successful strategy is that it creates value, and you can’t properly value a company without a thoughtful assessment of its compet... See more
from Reflections on the Ten Attributes of Great Investors by Dan Callahan
- from Karen Stenner:"All the available evidence indicates that exposure to difference, talking about difference, and applauding difference - the hallmarks of liberal democracy - are the surest ways to aggravate those who are innately intolerant, and to guarantee the increased expression of their predispositions in manifestly intolerant attitudes and... See more
from The Attention Span. “Racehorses and Psychopaths.” by thekcpgroup.com
- You can pretty much, I think, get an organization and a team through almost any challenge as long as you can maintain good cohesion.
from The Tim Ferriss Show Transcripts: Mark Zuckerberg on Long-Term Strategy, Business and Parenting Principles, Personal Energy Management, Building the Metaverse, Seeking Awe, the Role of Religion, Solving Deep Technical Challenges (e.g., AR), and More (#582) by Mark Zuckerberg
- Warren Buffett has said he doesn't do due diligence. This was a statement about Precision Castparts which is one of his largest acquisitions ever. And everybody just ignored that comment, but it was a profound comment. And what he meant by it was that he didn't need to do due diligence. He had been reading every 10-K published by Precision Castpart... See more
from Security Error | Columbia Business School by Gavin Baker
- Companies create value when their investments earn areturn in excess of the opportunity cost of capital. Investors add value when their portfolios generate a return higher than an appropriate market benchmark. Companies continually invest in assets in order to create value in the business, while investors buy a stock at a point in... See more
from Market-Expected Return on Investment Bridging Accounting and Valuation by Morgan Stanley
- Markets:The model I like—to sort of simplify the notion of what goes on in a market for common stocks—is the pari-mutuel system at the racetrack. If you stop to think about it, a pari-mutuel system is a market. Everybody goes there and bets and the odds change based on what's bet. That's what happens in the stock market. Any damn ... See more
from A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994 by Charlie Munger
- Investors should always keep in mind that the most important metric is not the returnsachieved but the returns weighed against the risks incurred. Ultimately, nothing should be moreimportant to investors than the ability to sleep soundly at night.
from Seth A. Klarman remarks at MIT by Seth Klarman
- The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. And most people do not get this straight in their heads. That's such an obvious concept—that there are all kinds of wonderful new inventions that give you nothing as owners except the opportunit... See more
from A Lesson On Elementary, Worldly Wisdom As It Relates To Investment Management & Business – Charles Munger, USC Business School, 1994 by Charlie Munger
- Almost everyone starts as a value investor. It’s funny, that's where Buffett started. And then Buffett in the early '90s became a growth investor. And so just be open-minded.
from Security Error | Columbia Business School by Gavin Baker