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← Buying the best business in the world at too high a price still produces poor returns.
17 connected korrents · 16 moments from 3 Sept 1888 to 25 Sept 2026.
Everything filed under value investing
value investing
Everything filed under stock market
stock market
Everything filed under courage
courage
Everything filed under investing
investing
Everything filed under SaaS
SaaS
Everything filed under market efficiency
market efficiency
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Google
Everything filed under Apple
Apple Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Buying the best business in the world at too high a price still produces poor returns. Buying the best business in the world at too high a price still produces poor returns. Last stated 3 years ago
20 Feb 2024
BA
Bill Ackman — holds since 2024-02-20 — tap for who they are
Same subject: A company priced in the trillions is not thereby overpriced; the test is what revenues and margins that price actually requires. — tap to centre the map on it A company priced in the trillions is not thereby overpriced; the test is what revenues and margins that price actually requires. Last stated 11 months ago
3 Dec 2025
AD
Aswath Damodaran — holds since 2025-12-03 — tap for who they are
Same subject: Selling an undifferentiated product while expecting returns above the cost of capital is unrealistic. — tap to centre the map on it Selling an undifferentiated product while expecting returns above the cost of capital is unrealistic. Last stated 2 years ago
1 Oct 2024
TG
Tren Griffin — holds since 2024-10-01 — tap for who they are
Same subject: Investment returns can surpass business revenue. — tap to centre the map on it Investment returns can surpass business revenue. Last stated 4 weeks ago
23 Sept 2026
PL
Pieter Levels — holds since 2026-09-23 — tap for who they are
Same subject: A best-in-class product should be priced at the point where customers say it is starting to get expensive, not at the point where they would call it a bargain. — tap to centre the map on it A best-in-class product should be priced at the point where customers say it is starting to get expensive, not at the point where they would call it a bargain. Last stated 2 years ago
23 Mar 2025
RV
Rahul Vohra — holds since 2025-03-23 — tap for who they are
Same subject: A startup does not have to set out to build the greatest business in history; a merely good business is a legitimate thing to aim at. — tap to centre the map on it A startup does not have to set out to build the greatest business in history; a merely good business is a legitimate thing to aim at. Last stated 2 years ago
19 Jun 2024
AS
Aravind Srinivas — holds since 2024-06-19 — tap for who they are
Same subject: Price selects the market: a serious buyer reads a low price as evidence that the product cannot possibly be good enough. — tap to centre the map on it Price selects the market: a serious buyer reads a low price as evidence that the product cannot possibly be good enough. Last stated 9 months ago
25 Jan 2026
JC
Jason Cohen — holds since 2026-01-25 — tap for who they are
Same subject: Pursuing more profitability is not always the right business decision. — tap to centre the map on it Pursuing more profitability is not always the right business decision. Last stated a month ago
21 Sept 2026
HD
Horace Dediu — holds since 2026-09-21 — tap for who they are
Same subject: Most investment returns come from long-term compounding rather than the price paid at purchase. — tap to centre the map on it Most investment returns come from long-term compounding rather than the price paid at purchase. Last stated 4 years ago
7 Sept 2022
BC
Boris Cherny — holds since 2022-09-07 — tap for who they are
Same subject: A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack. — tap to centre the map on it A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack. Last stated 8 months ago
3 Mar 2026
SB
Sanjay Bakshi — holds since 2026-03-03 — tap for who they are
Same subject: A margin of safety means paying a discount deep enough that being wrong about what a company is worth still leaves you whole. — tap to centre the map on it A margin of safety means paying a discount deep enough that being wrong about what a company is worth still leaves you whole. Last stated 3 years ago
20 Feb 2024
BA
Bill Ackman — holds since 2024-02-20 — tap for who they are
Same subject: A portfolio you cannot hold through an ordinary market cycle is not a portfolio but a bet. — tap to centre the map on it A portfolio you cannot hold through an ordinary market cycle is not a portfolio but a bet. Last stated 2 months ago
25 Aug 2026
NM
Nick Maggiulli — holds since 2026-08-25 — tap for who they are
Same subject: The S&P 500’s price-to-sales ratio no longer signals what it once did, because today’s companies earn higher margins. — tap to centre the map on it The S&P 500’s price-to-sales ratio no longer signals what it once did, because today’s companies earn higher margins. Last stated 2 months ago
25 Aug 2026
NM
Nick Maggiulli — holds since 2026-08-25 — tap for who they are
Same subject: A "good business" now means one that can display quarter-on-quarter stock growth, not one that makes good products at a fair price. — tap to centre the map on it A "good business" now means one that can display quarter-on-quarter stock growth, not one that makes good products at a fair price. Last stated a year ago
21 May 2025
EZ
Ed Zitron — holds since 2025-05-21 — tap for who they are
Same subject: A society's prosperity comes from its productivity, not from the financial system or stock market. — tap to centre the map on it A society's prosperity comes from its productivity, not from the financial system or stock market. Last stated 4 weeks ago
25 Sept 2026
MM
Mr. Money Mustache — holds since 2026-09-25 — tap for who they are
Same subject: The best time to invest is when professional money managers are too fearful to act and the public is gripped by fear and anger. — tap to centre the map on it The best time to invest is when professional money managers are too fearful to act and the public is gripped by fear and anger. Last stated 10 months ago
10 Dec 2025
JZ
Jason Zweig — holds since 2025-12-10 — tap for who they are
Same subject: A person should not play the coward to their own deeds by repudiating them once done; pangs of conscience are indecent. — tap to centre the map on it A person should not play the coward to their own deeds by repudiating them once done; pangs of conscience are indecent. Last stated 138 years ago
3 Sept 1888
FN
Friedrich Nietzsche — holds since 1888-09-03 — tap for who they are
Same subject: A society that intensely values intelligence is unprecedented in human history; the Bible, Homer and other ancient texts value strength, courage and beauty instead. — tap to centre the map on it A society that intensely values intelligence is unprecedented in human history; the Bible, Homer and other ancient texts value strength, courage and beauty instead. Last stated 6 months ago
8 May 2026
DR
David Reich — holds since 2026-05-08 — tap for who they are