This week we published our semi-annual letter to our investors. If you haven’t read it, you can read it here . Careful readers will notice we often buy businesses for about ten times pre-tax earnings. And we tend to think of 10x as a long-term valuation floor: i.e. a growing business should be worth
Thoughts On Valuation Multiples
Thoughts On Valuation Multiples
Thoughts On Valuation Multiples
This week we published our semi-annual letter to our investors. If you haven’t read it, you can read it here . Careful readers will notice we often buy businesses for about ten times pre-tax earnings. And we tend to think of 10x as a long-term valuation floor: i.e. a growing business should be worth