#19 The Value Investor
Behind the Balance Sheet
00:00
The Multiple Expansion and the EBS Growth
The S&P total return is 16.6%. The multiple expanded from 12 to 23.6%, 6.1% per annum. We've had a bit of a correction in multiple, but not that much. In an inflationary environment, we should see contraction in multiples. If you were to take the Warren Buffett turns out was wrong.
Transcript
Play full episode
