Ep 422. Creating Business Systems, John Neff, Multiple Expansion, Inflection Points, and Other Investing Musings
Focused Compounding
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The Impact of Multiple Expansion on Returns
This chapter discusses the significance of multiple expansion in generating returns, even for growth investors. Examples like Meta and Tesla are mentioned to illustrate how changes in the multiple can outweigh growth in terms of potential returns. The speakers emphasize the importance of considering business momentum and the role it plays in investing decisions.
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