Terry Smith: “The problem is most people don’t read the accounts”
Investors' Chronicle
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Do Not Overpay, Don't Do Nothing
The manche of bigo companies, don't overpay and do nothing will be well known to our listeners. How do you change the valuation threshold when looking at different companies? As you'd expect, i mean that we compare our preferred methodologies to look at the free cash for yield. And we have a time horison that we tryana estimate that on. It's about five years. We've found thata time horizon over which we are pretty good at getting this roughly right.
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