There is a particular kind of confidence that comes with owning a portfolio full of companies growing at 40% a year. It feels like intelligence. It feels like you have figured something out that the slow money crowd has not. You look at your holdings and see innovation, disruption, the future being built in real […]
Why Most “High Growth” Portfolios Are Just High Beta Gambles Read More »
There is a phrase that gets repeated so often in finance that it has lost most of its meaning. Cash is king. People say it during downturns. They say it during rallies. They say it when they do not know what else to say. It has become the financial equivalent of “stay hydrated.” Technically correct,
Cash is King, but FCF Yield is the Whole Kingdom Read More »
There is a peculiar ritual in earnings season. A company announces record revenue. The stock drops eight percent. Analysts scramble. Commentators look confused. Retail investors feel betrayed. But the market is not broken. It is doing exactly what it is supposed to do. It is telling you something that the headline number never will: that
How Revenue Growth Can Destroy Shareholder Value Read More »
Mathematics is supposed to be clean. One plus one equals two. Always has, always will. Except when it comes to compound interest, where one plus one somehow equals three, then five, then eight, then numbers that make your calculator question its own existence. This isn’t magic. It’s not even a trick. It’s just that we
1 + 1 = 3: The Illogical Logic of Compound Interest Read More »
The numbers seem to make no sense. Ten is larger than eight. A bird in hand beats two in the bush. Cash today trumps promises of tomorrow. And yet, the most successful investors often choose the smaller number, the distant hope, the unrealized gain. This paradox reveals something deeper than spreadsheets can capture about how
The Case Why to Choose 8% Growth Over a 10% Dividend? Read More »