Amex's premium brand => premium customer segment => premium fees! Example $AAPL profits vs. Rest of the market profits! Another example from today's poll by @anuragsingal

More nuanced than this. EPS growth is key. If CAGR is higher, these work out OK despite PE compression. The math can be tested here: docs.google.com/spreadsheets…

New #Lilu interview on #ValueInvesting! Quite recent. Chinese but with English subtitles. youtu.be/8BbskKn4kKA

Glad you are staying the course! What building traffic looks like!

Found this on twitter or paper a while back but can’t find the source unfortunately.

Sensitivity analysis of entry and exit multiples from the LBO model.

$OPEN Cash flow from operations from Yahoo finance below. What am I missing?

Great example! I model out a 100x PE with multiple compression growing at 30% vs. 20x PE growing at 8% here. Feel free to play around to believe these numbers

Growth covers a multitude of sins! You cant really say till you factor in the dilution and buybacks. Here is an excel model I put together for showing a 100x earnings multiple is OK even with multiples compression provided sufficient growth is there.

Yes there is a premium but here is the cash flow analysis