AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min chapter
TIP546: The Holy Grail of Long-Term Value Investing
We Study Billionaires - The Investor’s Podcast Network
The Importance of Quality in Investment Decisions
Investors tend to confuse return on incremental invested capital with the return on invested capital. A 20% reported ROIC today is not worth as much if no more opportunities are available to reinvest profits. Mature legacy mo businesses with good dividend yields may preserve one's capital, but they are not great at compounding wealth. Over the long run, your returns will largely be affected by the quality of the business you purchase.
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