the market assigns the multiples!

to add a further thought to the excellent post from Chris…

I hunt for earnings
The market assigns the multiples to those earnings
The multiples ebb and flow like the tides
Have the wisdom to know the difference!

The tide is going out right now, but the tide will come in again.

It is ok to change boats. Just try not to need to in a storm.


my dad thought that underway replenishment on an aircraft carrier was one of the scarier parts of his job, not like night carrier landings, but still…


For those not brought up in a Navy household. Before we had nuke carriers, every couple of days a carrier at sea needed to take on fuel so an “Olier” would come out and they would run hoses between the carrier and the oiler and fuel the carrier. Imagine a carrier in high seas in the Pacific with a fuel line to another ship and trying to maintain distance and not break the fuel line. That WILL get your heart rate going!

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I’ve seen it in films. Fascinating! Just getting the hose across was quite a feat.

The Captain