How to Discount Your Company's Owner Earnings

We don't put the risk factor in per se because essentially the purity of the idea is that you're discounting future cash and it doesn't make any difference whether cash comes from a risky business or a safe business so called safe business. We believe in using the a government bond type interest rate we believe in trying to stick with businesses that where we think we can see the future reasonably well. When you can buy them something you understand well the significant discount then you should start getting excited Charlie yeah the discounts were once greater than we now see that's all you got to get folks zone one hi Warren it's Peter Newman Nick and Raki son you can't see me because I'm on your