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The Normalization Process for Defining Benefit Plans
There aren't a lot of companies anymore that have defined benefit plans, but those that do in cases where they're material. The process that I use kind of normalizes what will be the cash going out the door from the corporation to fund the pension fund. It essentially says, look, you have a plan that's underfunded by several billion dollars.
On today’s show, Stig has invited famous investor Chris Bloomstran from Semper Augustus to teach us a masterclass about valuation techniques. It’s no surprise that Chris Bloomstran is heavily followed on Dataroma alongside investors like Warren Buffett and Howard Marks.
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