When it comes to investment theses, my view is the simpler the better. Better because the fewer assumptions I depend on, the lesser the chance I've made some fundamental error in calculation or my understanding of the company and its industry. I've no need for spreadsheets with twenty tabs modelling gross margins for the next decade, or for novel-length PDFs with detailed biographical data of every middle manager. I look askance at projections longer than three years or so into the future, because the future so stubbornly refuses to conform to my wishes and predictions.
Visteon Simplifies Business, Plans Huge Buyback, Goes Unnoticed - VC
Visteon Simplifies Business, Plans Huge…
Visteon Simplifies Business, Plans Huge Buyback, Goes Unnoticed - VC
When it comes to investment theses, my view is the simpler the better. Better because the fewer assumptions I depend on, the lesser the chance I've made some fundamental error in calculation or my understanding of the company and its industry. I've no need for spreadsheets with twenty tabs modelling gross margins for the next decade, or for novel-length PDFs with detailed biographical data of every middle manager. I look askance at projections longer than three years or so into the future, because the future so stubbornly refuses to conform to my wishes and predictions.