AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min chapter
Michael Mauboussin – Active Asset Management - [Invest Like the Best, EP.02]
Invest Like the Best with Patrick O'Shaughnessy
What Are You Paying for Future Value Creation?
The value of a company can be broken down into two components. The steady state component, if you say a dollar of earnings, the multiple thatyou assigned to that would be basically the inverse of the cost of equity capital. If i pay 12 and a half times or less for current earnings, and those earnings are sustainable, i'm paying for nothing for future value. D then, time back to value investing, or low expectations investing.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode