Saylor: 5%-growth companies destroy value when cost of capital hits 25%
Michael Saylor · MFM #161: Why Michael Saylor Believes Bitcoin is Hope · Mar 17, 2021 · at 31:21
Michael Saylor, CEO of MicroStrategy, discusses equity valuation dynamics and why corporate growth must outpace the elevated cost of capital driven by monetary expansion.
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“You can't hold value in a company growing at five percent a year when the cost of capital is 25% a year. That's why the only thing you can buy is going to be a high tech stock that's growing. You need to buy a tech monopoly that can grow 20 or 25% a year.”
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