The big picture is: the main thing you should be concerned about in the future are incremental returns on capital going forward. As it turns out, past history of a good return on capital is a good proxy for this but obviously not foolproof. I think this is an area where thoughtful analysis can add value to any simple ranking<br>screening strategy such as the magic formula. When doing in depth analysis of companies, I care very much about long term earnings power, not necessarily so much about the volatility of that earnings power but about my certainty of "normal" earnings power over time.
Hannibal Buress
We'll keep you in our thoughts With the other bullshit in your heads? No, keep me out of your thoughts, because I hear some of the stuff you talk about and if that's close to what you're thinking about, I don't want to be around that, so keep me and my family out of your thoughts, unless you're thinking of making me a sandwich.
