Ep 414. Normalizing Supply-Driven, Demand-Driven, and Bond-Like Earnings
Focused Compounding
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Normalizing Earnings and Free Cash Flow for Different Businesses
This chapter discusses the process of normalizing earnings and free cash flow for different types of businesses. It explains the adjustments applied to balance sheet numbers or sales depending on the nature of the business and highlights the importance of considering longer-term trends rather than focusing on one-year data.
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