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Reflections on the Investing Process with Michael Mauboussin

Frederik's Labyrinth

CHAPTER

Is This a Good Idea?

In many other domains that are similar to this you do see people do this almost as a matter of course. It's not about out the fastest horse it's about where they're mispricing right. John Burr Williams in the late 1930s wrote sort of the first I would call a lot or no like pretty foundational text on valuation. And then evaluating why you think those that those that those growth rates and sales and profit margins and capital intensity and return on in capital that's implied is just such a fundamentally attractive proposition. But again it requires a little bit of discipline and it's not how you stop people were trained it'snot how they grew up.

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