#22 The Octogenarian
Behind the Balance Sheet
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How to Look at a Stock
You can't follow one company selling pumps and valves without following the whole ecosystem. We assign an analyst, for example, we believe that you will have renewable energy or some other form of energy. The vendors of their parts allow them to return the parts. They get paid and secondly, the vendors finance their inventory on a non-recourse basis. And then in addition to that, if I have the parts for a 1954 Chevy or whatever, or not a Rolls, but a more common car and you don't want it anywhere, they take it back.
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