Market Commentary
The stock markets in Europe and elsewhere reached their nadir in early March and has since posted the strongest rebound since 1933. Despite the rally, there are still many unresolved long-term issues. Positive sentiment towards the markets was triggered by more optimistic statements... MORE > |
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Featured Perspective
Earning power is the single most important factor in our valuation of a company and the key focus of our analysis process. The purpose of our analysis is to arrive at a figure that represents the distributable cash flow that the owners of the business can extract while leaving the operation of the business intact. Only companies that generate more cash than they consume add shareholder value over time. MORE > |
