Let the games begin

(Image: Getty)

Sat, 07 Sep 2024

I will tell you a secret: Stockbrokers, analysts, and portfolio managers play this goofy game behind closed doors trying to outsmart, test, and challenge each other. It goes like this: I come to the team with a company called X (let's not let Elon Musk have all the fun), and I give you half a dozen bullet points. It has this much revenue, operates on margins of that, has decent barriers to entry, 20% market share, low growth, is reasonably defensible in nature, is well run, has these opportunities ahead of it, etc. You then g...

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