DCF with Hopeful Inputs
DCF valuation with wishful inputs is as good as saying “if I’m able to make a million dollars by year 5, I will be a millionaire.”
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Related notes
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The Variant View
A successful investor stands independent of the market to identify where consensus expectations are wrong.
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On investing
Why stocks have multiples, how stocks become multi-baggers, financial modelling by professionals, and setting a hurdle rate.
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Joel Tillinghast's Valuation Framework
A compact framework connecting growth, reinvestment, free cash flow yield, and an implied earnings multiple.