3min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

RWH019: Winning the Long Game w/ John Spears

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

How Do You Measure a Business's Earning Power?

Benjamin Graham appreciated qualitative factors that can determine the earning power and the valuation of a business. But in his book, Security Analysis or the Intelligent Investor, he was much more quantitative. So we've learned a lot from reading Warren Buffett, from reading what Charlie Munger has said and written about qualitative factors. We graduated from being an investor in net current asset stocks to, I think, our first more of an earnings-based stock.

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