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2015-05-22

  • AlbertaSunwapta commented on The Science of Hitting's article 05-22 22:03
    Spotting Hidden 'Cockroaches' In Investing
    “There’s seldom just one cockroach in the kitchen. You turn on the light and all those others start scurrying around. I couldn’t find the...
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    AlbertaSunwapta 05-22 23:03
    • I have a theory (possibly pretty flaky) that people in many fields are there because an intrinsic interest and passion for that field. Earning a lot of money is secondary for many, many people.

      Then there's those working with money. There my theory is that among those people choosing to work with money, for the accountants, it's more due to capitalizing on a skill with numbers and transactions and not necessarily any passion to run, or own, or build a business. It's more about the transactions. (More like people that go to casinos to play cards because they like the action more so than winning and making money.) Then there those that go for MBAs. They want to make money but tend to lack a passion for any particular field.  They just want to make a lot of money doing whatever it takes. So,basically,  the cockroaches follow the money.

2015-05-19

  • AlbertaSunwapta commented on Brian Flores's article 05-19 12:24
    Munger, Klarman and Buffett on EBITDA
    I was reviewing some of my notes and ran across some of the quotes that I have highlighted regarding commonly used metrics, such as EBITDA, for...
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    AlbertaSunwapta 05-19 13:24
    • EBITDA (and EV/EBITDA) is more of a catalyst or momentum tool than a business valuation tool.  That doesn't mean it's not useful.  If a company looks at low EV/EBITDA takeover candidates and this triggers a buy out or if the majority of brokers use it and it triggers price increases then that can be useful and profitable. 

       

      Analyzing Valuation Measures: A Performance Horse-Race Over the Past 40 Years

       

      Wesley R. Gray 



      Alpha Architect; Drexel University - LeBow College of Business

      Jack Vogel 



      Alpha Architect; Drexel University



      March 29, 2012



      Journalof Portfolio Management, Forthcoming

       

      http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1970693

       

       

       
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