A proper assessment of Risk lies in the proper assessment of Stability of "Value" (Howard Marks). Stability of Value depends on "stability of future cash flows" (Mike Mauboussin). Stability of future cash flows in turn, depends on Industry Stability and Competitive Strategy/Position of the business in the Industry (Howard Marks)
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During the normal running of a manufacturing company, there are some materials which are consumed as part of the daily operations, but can...
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Two methods are generally used to recognise revenue for a construction business, the completed contract method and the percentage of...
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Generally, expenses are shown in the Profit and Loss statement. There are some expenses which are normally shown in Pl statement, but som...
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