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One of my favorite things to do when studying a company is going line by line through each of the financial statements to see if I can articulate the reality of the accounting. I...
Going back through “Measuring the Moat” by Mauboussin. Here are some helpful things: 1. Industry Map - Important to understand all of the players in an industry and how the whol...
1/ Over the past 13 years, Apple has brought in $758 billion in free cash flow. And it has returned 93% of that to shareholders, shrinking share count by 37%. https://t.co/9z3tz9...
I've probably read 1,000 annual reports (10-K's). Here's how to read one efficiently and effectively. [THREAD] ⬇️
Did you know that Coca-Cola makes the majority of its profit from selling its secret-formula of flavoring? Business Breakdown [THREAD] https://t.co/paPLCzHhpw
McDonald's doesn't sell burgers, it sells franchises. It's a real estate company, not a fast-food restaurant. [THREAD] https://t.co/CsmtAqYeHR
Costco is a fascinating business. You know all those groceries you buy? Yeah, they basically sell those at breakeven and then make all of their profit from the $60 annual member...