How John Malone Used EBITDA Correctly vs. How Valeant Pharmaceutical Abused It Instead

How Buffett Stole AAPL at 8.8x Ex-Cash Trailing P/E in 2016 + A Financial Analysis of 2016 AAPL

Value investors tend to be volatility-agnostic - which might not be a palatable investment approach to many. By pairing Factor Investing with Value Investing, it is possible to create a Low-Volatility Value Investing Portfolio. This has the benefit of appealing to both crowds - albeit involving some compromises. However, the aggregate value-add can be phenomenal for all parties involved.

CAPM is the standard methodology used in financial academia to calculate the cost of equity. But value investors like Warren Buffett have been outspoken in the past about its imperfections. So why shouldn’t we use CAPM to measure the cost of equity?

Positive 6M23 Ecom Contribution + Fortress Balance Sheet + 11% TAM Growth + 12.5x Earnings Multiple. Is Mr Market stupid?

With investors being willing to pay 26x PE for $WMT for its low-risk & highly predictable cash flows, what PE multiple could $DG inflate to one day? (current: 13.6x norm.)

There have been a number of excellent articles covering the recent SVB Financial debacle (linked below). However, I was surprised by the number of people who reached out to request a TL;DR version of the events — prompting me to quickly bang this article out for those who want a quick recap.

This is Part 1 of a two-part series of free posts about Evergrande. Evergrande’s woes are not a function of fraud, but overbuilding. With Inventory Days hovering at around 4 years, they have been pulling forward future revenue growth in an unsustainable manner.