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@brokenjohninchrist Also using a P / E multiple that uses historic (backwards-looking) data in the denominator isn't actually used in practice, since it's an apples-to-oranges comparison...... P tells you the markets expectation about future data. E needs to be the name to really tell you...

@daniellea Yep, as is the case with changes in technology (feel like something fundamentally changed right around Y2K..../r/hmmm). Tech companies are notoriously capex (and largely opex)-lite, so expanding margins makes total sense. See above. Greater profit per unit sold generally implies...

@johnhus1966 Any trading multiple in a vaccuum is useless, even more so when we don't know how peers are trading relative to F

@reactcoder Really dude? I guess you’re allocating a ton of your dry powder to private TLB debt? That you can’t say trade? Because you sort of strike me as one of the types that treats the NYSE like a casino…

@daniellea Pretty much. That's the effect of moving from an industrial economy that produces real property (e.g. "stuff") to a service economy that produces intellectual property (e.g. "processes", "ideas")....there's a reason why most railroad employees are members of unions and choose to...

@jj6211 *John Simon, not Jim Simmons But agree - he's got the best investing track record of all time and is probably the only example (besides Lynch) as the only investor to consistent beat the market (after fees and taxes) year-in and year-out