#9 Two Capital Cyclists
Behind the Balance Sheet
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The Mean Reversion Problem in Valuation
i think the mean reversion problem in valuation is more likely to be solved by the have nots, because they have more control over what they do. They can use their free cash flow from their depreciation to bib out the shares and eventually good things will happen. And that will shrink their balance sheet. The capital spending that they're undergoing, they don't need to do because they don’t need branches any more. That's an amazing prize. I im full of admiration, because this is a fact. Is i about you, unti s? Wella ste coreges.
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