Earnings

“Our earnings was the most watched earnings in history. The last National Open House we did broke records for how many people watched it. No. Yeah, by a lot, but not by a lot. We should fact check this, but I think at one point we had 55,000 live viewers.”

“For a while we were seeing Chinese internet companies, like, they didn't want to beat earnings. Because if you beat earnings, your stock goes up too much. You know, you might be flagging that, like, you're over-earning”

“So the PC legacy of the company was not what was going to take it forward, and the stock was trading at about eight times earnings.”

“So I think that in like a very simplistic sense, narrative drives stocks more than earnings do over the intermediate term.”

“If you are in this neighborhood, and even if your family is in that 50,000 dollars a year bucket, but you interact with some of those rich people, aka you have more Economic interconnectedness. This group of people has a 30% higher earnings over the course of …”

“What we see typically in a market cycle is you have a cyclical bottom, and it looks like last October may have been exactly that, and then you have a recovery, an early cycle recovery based on eventually an earnings recovery, but the market discounts that. So …”

“There's no snapback, you know, even if you say, earnings take time to grow. Earnings don't typically, at large, grow in multiples. They grow in You know, increments, percentages, and when that happens, markets grow and valuations grow, but there's no catalyst …”

“In every down cycle, initially it's the multiples that correct, and then it's the earnings that correct, while the multiple stays the same.”

“Cynicism is associated with lower IQ, lower literacy, lower numeracy, and lower earnings. The idea of cynical individuals being more competent Appears to be a widespread, yet largely illusory lie.”

“He likes to buy companies between five and 10 times earnings. And that's like his number.”

“90%.”