The cash flow statement doesn’t always get the attention it deserves. If you think about valuation metrics most frequently cited in the press or analyst reports, most pull from the income statement: price-earnings ratio (P/E ratio), earnings per share (EPS), multiples of EBITDA, multiples of revenue, etc. This might encourage anyone new to valuation or financial modeling to spend a disproportionate amount of time examining the income statement.
While I hope that ASimpleModel.com becomes an integral part of anyone’s learning process, I believe that learning this skill set requires exposure to multiple sources. For that reason I am posting a list of resources. These resources have been picked using the collective findings of many internet searches, and commentary on sites like Reddit and Quora. For the time being I am including three categories: Free Resources, Books and Paid Programs.
Jon Gattman, who I’m privileged to say is a cool friend, is in the process of launching Cloverdale Capital, a Dallas-based, value focused long/short equity hedge fund. He has capital committed, and the fund is set to launch in October of this year. Everything is lined up with one exception: junior talent.
The image above is a screenshot from Google Analytics showing activity by country since I launched the website one year ago today on the 4th of July. It has been awesome to see the site move across the globe.
I wanted to share two passages that touch on a recent post, and add some heavy-hitter commentary advocating contrarian thought and concentrated investing. The first is one of Howard Marks’ favorite interview questions (or riddles), which he claims has never been answered correctly: