Mark Leonard Letters
Warren Buffett's Ground Rules: Words of Wisdom from the Partnership Letters of the World's Greatest Investor
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The Savvy Manager: A Guide to Running Your Fast-Growing Business [Tips for Investors and Entrepreneurs]
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ROE, defined as net income divided by shareholders’ equity, is massively distorted by the rise of intangibles. Net income has always been unreliable because of the considerable discretion management has in reportingexpenses within accepted accounting principles. Shareholders’ equity has also lost relevance because of the vagaries of accountin... See more
Morgan Stanley • Market-Expected Return on Investment Bridging Accounting and Valuation
Compound 2023 Annual Letter - Compound Writing
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