Reflections on the Ten Attributes of Great Investors
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Reflections on the Ten Attributes of Great Investors
Finding Undiscovered Talent
joincolossus.comGreat capital allocators always have a sense of the difference between price and value in all of their businesses. And, as important, they are willing to act to build value when those gaps become large enough to overcome frictions such as taxes and fees.
Dan Callahan • Capital Allocation
Security Error | Columbia Business School
www8.gsb.columbia.eduInvestors generate excess returns when they buy the shares of companies prior to a revision in expectationsabout future cash flows. A key determinant of cash flows is a company’s ability to allocate capital toinvestments that create value. The current principles of accounting do a poor job of separating investmentsand expenses, creating a veil that... See more