Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
The Lost Book of Sales
FEBRUARY 1, 2021
At best, they are merely the beginning of a proper calculation of intrinsic valuation, not the end. Products, markets, trademarks, employees, distribution channels, societal trends and so on, as well as the durability of these advantages. It’s an effective sales technique in America to put a foolish projection on a desk.
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