Home
> Investment > The role of management
The role of management
There is a strong tendency in the stock market to value the management
factor twice in its calculations. Stock prices reflect the large earnings
which the good management has produced, plus a substantial
increment for “good management” considered separately. This amounts
to “counting the same trick twice,” and it proves a frequent cause of overvaluation.
— Security Analysis
Categories: Investment
Comments (0)
Trackbacks (0)
Leave a comment
Trackback