EPISODE · Aug 16, 2026 · 9 MIN
Value investing trap 1 - Working capital
from Nordic small cap stocks · host Nordic small caps
NB: This is a previously published podcast, remade with better sound quality.Some companies always seems to trade at a low multiple. Charlie Munger hates that kind of business.In this episode I go through the working capital cycle of a product company, and explain why they deserve a low multiple. If I could go back in time to understand something early in my investing career, this would be high on the list.
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Value investing trap 1 - Working capital
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