Gary Channon (Phoenix Asset Management) - Experiments In Value Investing
Far From The Finishing Post
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Is There Such a Thing as an Expert?
It's not personal preferenceasi really just lookit everything when you have high numbers, the difference between compounding af 15 and ten are massive. So i have always struggled with very high growth businesses in terms of getting comfort because the downcer intends to be me enormous. You buy something on 20 times booken and the carfal return normalizes - it loses its competitive edge. It's unlikely you're gong to get your money back. We put a high value on some stability. If we can understand that demographic. They're the forces that drive consumption of housing. And so does wonders to europe investt returns. Well, i'm interested in this concept of observeability. And
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