Enduring Investing and Life Lessons with Guy Spier
Excess Returns
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Google's Moonshots and Apple's
I think Google and Facebook are the other two on the other side of the coin. I don't think that any of Google's moonshots will work out, you know, and I think that they're coming under pressure now. Amazon 2002: Jeff Bezos was taking every penny of operating profit that he could and dumping it into investments. Apple 2005: It was trading at single digit multiples of earnings or low doubledigit multiples of Earnings.
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