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TIP468: Why Buffett is Investing in Oil Companies W/ Josh Young
We Study Billionaires - The Investor’s Podcast Network
The Economies of Scale
I think there are dis economies of scale as you get bigger. Companies like chevron have amazing assets, and then they also have terrible legacy assets. So i think there's some benefit from being big in terms of lower cost of capital but there's also some costs. And i'm not sure that it's so obvious that's something that should be awarded with a much higher valuation.
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