
The Smead Book List - Summer 2024
A Book with Legs
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Analyzing American Companies' Valuations and Market Risks
The chapter delves into the risks posed by high multiples of American companies against free cash flow and potential vulnerabilities due to stock-based compensation in case of declining stock prices. It also explores concerns about current market conditions influenced by factors like low interest rates, government spending, passive investing, and the impact of AI on cost-cutting measures.
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