Jack Bogle of Hedge Funds (guest: Andrew Beer)
The Market Huddle
00:00
How Do You Decide That a Company Is Cheap?
Investing in stocks was very much about stories and momentum. How do you actually decide that a company is cheap? You pick up your rotary phone. Nobody knew what ebit was. People were terrified of debt and leverage. The m an a market was in its infancy. So you could have companies that were cheapad value investors used to say, they're cheap and built to stay that way. Few invest looking into space who had a huge opportunity set.
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