Single Best Idea with Tom Keene: Julian Emanuel & Bill Priest

This book provides a comprehensive analysis of the present equity market and the forces that determine its future value. It introduces the concept of Shareholder Yield, a method of gauging investment opportunities by the magnitude of free cash flow generated by a company and how it is deployed. The authors explain how traditional investment metrics like the P/E ratio are being eclipsed by a free cash flow-based approach, and how this strategy can reduce risk and enhance returns in the face of globalization, rising interest rates, and deflating asset bubbles.