Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
The Lost Book of Sales
FEBRUARY 1, 2021
At best, they are merely the beginning of a proper calculation of intrinsic valuation, not the end. Finally, Charlie seeks to calculate the intrinsic value of the whole business and, with allowance for potential dilution, etc., Bias from gambling compulsion. Few businesses survive over multiple generations.
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