Limits on Growth
Value investing may seem like a simple concept but it necessitates a very challenging task of estimating the future growth of cashflows over coming decades.
Does Valuation Not Matter for High Quality Businesses?
One characteristic of a high quality business is its ability to grow its intrinsic value over time. So does that mean that it’s possible to overpay for a high quality business and then wait for it to “grow into its valuation”?
