2min chapter

Superinvestors and the Art of Worldly Wisdom cover image

#2: Eric Cinnamond on the Value of Absolute Return Investing

Superinvestors and the Art of Worldly Wisdom

CHAPTER

The Advantages of a Discounted Cash Flow Model

The discounted cash flow model is one of the easiest things to manipulate. It's incredibly disingenuous to lower your discount rate without lowering the growth rate, he says. If you're going to have low interest rates for a long time, there's no way in hell those companies are going to grow as fast as they have in the past.

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