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Legendary value investors' secrets

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December 7, 2021

Archives for February 25, 2017

Misleading ‘record’ earnings

When companies say they achieve record earnings, be wary how they define “record” earnings. Warren Buffett said in a March 14, 1978, shareholder letter: “Most companies define ‘record’ earnings as a new high in earnings per share. Since businesses customarily add from year to year to their equity base, we find nothing particularly noteworthy in

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