18;write_to_target_document1b;_UPjtaYb-EYy8ptQPjOX-sAc_100;57; 0;996;0;61d;
Greenwald’s PDF lecture slides are famous for graphing these interactions, showing that without at least one of these protections, a high-return business will eventually be competed down to average returns.
Instead of a simple 33% discount, Greenwald advocates: “At what growth rate or ROIC does the current market price make sense?” If the implied assumptions are unrealistic, avoid the stock.
18;write_to_target_document1b;_UPjtaYb-EYy8ptQPjOX-sAc_100;57; 0;996;0;61d;
Greenwald’s PDF lecture slides are famous for graphing these interactions, showing that without at least one of these protections, a high-return business will eventually be competed down to average returns. value investing bruce greenwald pdf
Instead of a simple 33% discount, Greenwald advocates: “At what growth rate or ROIC does the current market price make sense?” If the implied assumptions are unrealistic, avoid the stock. avoid the stock.