Capital Group

“It's more like six years.”

“One of the unheralded skills that CEOs can really study is capital allocation. You know, if you have a 20 PE stock, and you grow your earnings 12 or 13% a year, after a decade, your earnings will add up to 90% of the market cap the day you started as CEO. So t…”

“As an equity portfolio manager, there's not too many ways to be involved in Bitcoin in your portfolios, but I have one, and, ah, I'm looking for others.”

“And then what I'm mostly looking for, where are the choke points right now? And there's a bunch. It's semiconductors and semiconductor capital equipment. There's only a handful of companies that are good at that. There's only three big public clouds. There's o…”

“But it's such a bogus metric. You know, the stock-based compensation, which is ignored in that metric, that's a real expense. And you all know it's a real expense, because if you weren't allowed to use stock-based comp, you'd have to pay cash comp, ok?”

“The way it works at Capital is the bonus you get for your results is you get a one-year, three-year, five-year, and eight-year rolling average bonus, but the eight-year is biggest by far”

“I happen to be one of the heretics who thinks dividends are amazing. Like, I love it when companies initiate dividends, and I think the companies love it when they have dividends, too. It's like giving everybody who has stock comp a raise, right, in cash that …”

“There's a lot of companies I won't invest in because they're not investing enough, right? I'm like, your margins are too high. I don't think you're being aggressive enough about future investments. And if you lowered your margins and it showed some progress on…”