MI158: Investing for Outsized Performance w/ Jeremy Deal
The Intrinsic Value Podcast - The Investor’s Podcast Network
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Is Price a Voting Machine?
In the short term, it price is a voting machine, but t long term, it's a weighing machine. Businesses don't just sit undervalued and compound at the same time for 30 years. They go through periods of looking fully valued or partially valued. So you can't peel back the onion and say, wo what's really happening here? You miss stuff cause it doesn't show up in gap earnings. And more modern or technology asset lihe businesses fall much more into that as they don't pay tax.
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