Lex Fridman Podcast
#413 – Bill Ackman: Investing, Financial Battles, Harvard, DEI, X & Free Speech
Bill Ackman
One way to think about the value of the business is the price you pay for the earnings. Or alternatively, what's the yield? If you flip over the price over the earnings, it gives you kind of the yield of the business. So a 15 multiple is about almost a 7.5% yield. And that earnings yield is growing over time as the business grows.
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