Solid piece. The free cash flow distinction is something that trips up way too many people - companies with beautifulearnings can still be cash incinerators if capex is hidden in the details. The Markel pitch is interesting too, that insurance float model compounded over decades is probly one of the most underrated wealth engines out there, just so few have the patience.
When I think of #3, I always remember that “Time in the market beats timing the market.”
I forget who said it, but I picked it up in one of the books I read along the way.
I think it was Warren Buffett who said that. It's a golden source of wisdom for sure!
I agree and highly recommend the Buffett interview (not new, but I doubt he will do another).
Correct. I'm very curious to see how the next Berkshire AGM will go.
Solid piece. The free cash flow distinction is something that trips up way too many people - companies with beautifulearnings can still be cash incinerators if capex is hidden in the details. The Markel pitch is interesting too, that insurance float model compounded over decades is probly one of the most underrated wealth engines out there, just so few have the patience.
In the end, free cash flow is all what matters.
Using the float to invest is also exactly what made Warren Buffett so successful, of course!
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Howdy partner!! I’m still waiting for the refund you promised me more than a month ago!!! How long is it gonna take?