Listed companies
I started investing before I started companies.
Public markets are useful because they force an opinion to meet a price every day.
The lens.
- Revenue quality.
- Cash generation.
- Durable demand.
- Balance-sheet resilience.
- Management capital allocation.
- Technology shifts that alter the economics.
- Price, because even wonderful businesses can be dreadful investments.
I am interested in what a company will earn and what I am paying for those earnings. Revolutionary, apparently.
Why this belongs on TES.
Investing keeps the commercial instincts sharp. It also exposes you to business models, technologies and management decisions far beyond the companies you personally operate.
The Empty Space is not offering regulated investment advice here. This is simply part of the experience behind how I think about companies.
Important
This is not investment advice.
Nothing on this site is a recommendation to buy or sell securities. Investments can fall as well as rise. Human beings remain remarkably inventive at losing money.
Bring us something worth thinking about
See an interesting listed-company angle?
Send the thesis. Keep the adjectives under control.
Tell us what is missing