Stocks and Flows
capitalgains.thediff.co
Stocks and Flows
accounting-based earnings per share can be made to say just about whatever a company’s management wants them to, but cash flow is much harder to fiddle with.
Pat Dorsey • The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
Stocks allow inflows and outflows to be decoupled and to be independent and temporarily out of balance with each other.
Donella H. Meadows • Thinking in Systems: International Bestseller
The outcome is that liquidity in DeFi is currently in a dial-up state. There is just not enough liquidity to enable and encourage transfers with low value loss.Additionally, the liquidity that exists is highly unreliable. Token projects generally incentivize their liquidity via inflationary rewards. This inflation-based liquidity is unsustainable a... See more
BanklessDAO • Liquidity is bandwidth on Bankless
free cash flows are what give the firm its investment value. A present value calculation simply adjusts those future cash flows to reflect the fact that money we plan to receive in the future is worth less than money we receive today.