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#30 William Thorndike: The Outsiders

Investing by the Books

CHAPTER

Using Differentiated Metrics to Optimize Cash Flow

In each of those industries, there were sort of a conventional practices and metrics. Lazer focused on cash flow over reported earnings. They were lazer focused on tax minimization. Which is obviously related to cash flow optimizing. But it's just very hard for normal accounting math to kind of keep up with allThat was a completely new idea at the time. And i do think that's one of the markers if this kind of mine set, is the metric, differentiated metrics that are thear cash flow based and focused on per share outcomes.

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