What Does Quality Mean to You?

We became much more anchored to the idea of the quality of the business, not just the quality of what's on the balance sheet. We didn't know micas would be as good as it was. And we look at an abnormalized free catch flop its what we look at. The perception of what they might earn in the future changes so much more wt than the actual value of the real estates that that more traditional value may have owned.

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