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Ep 395. Analyzing 10-Baggers from the Past 10 Years, Industry Returns, and Snap Judgments from Twitter

Focused Compounding

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The Impact of FICO on Earnings Per Share

FICO has double the PE of Charles River labs, but FICO grew revenue much slower. The bigger and bigger your margin gets, the less meaningful it can be to continue to squeeze out more margin gains. So I would definitely think that you should value Charles River labs at a higher level than you would value like a major food brand or something.

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