In his excellent book, Deep Value, Tobias Carlisle notes the single most important factor in determining what Graham called “satisfactory returns” is not surprisingly, the price you pay: the lower the EV/EBIT or EV/EBITDA multiple, the better the subsequent returns. In fact, revenue growth and ma...
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Tribune Spin-Off Highlights Why Buffett Still Loves Newspapers
Published: September 26, 2014