Unpacking Franchising and Value Investing

This chapter explores the intricacies of franchising through the lens of McDonald's, illustrating how franchises can thrive with minimal debt. It merges discussions on value investing principles, the importance of corporate governance, and the need for patience in assessing asset values, drawing comparisons between stock market volatility and the stability of real estate investments. By reflecting on the speaker's investment journey, the chapter emphasizes strategic decision-making and the significance of understanding business fundamentals in achieving investment success.