Matt Harbaugh
Investor/operator posting about valuation levers (growth, margins, reinvestment, risk) directly relevant to CFO capital strategy and ROI decisions.
Good Research Drives Long‑term Success, Not Immediate Timing
Nick Sleep on focusing on what you can control "The quality of our research-based decisions overwhelmingly determines whether we will do well in the long run. But it has almost no influence over the timing of these results."
Act Your Age: Align Business Focus with Lifecycle
Aswath Damodaran on how the focus of a business changes depending on the company's lifecycle Companies that don't act their age will destroy value
Same Levers Fuel Growth and Trigger Decline
Aswath Damodaran on the determinants of a company's lifecycle "What allows companies to grow quickly are: ease of scaling up, how quickly you can enter businesses, and how little capital you need to grow. But what causes companies to decline are...
Seek 5% Annual Edge, Keep Cash Out
Francois Rochon on being fully invested "If we continue to find companies that we believe can do five percentage points better than that on an annualized basis over many years, why would we hold cash?"
Bet Big on Your Six Best Ideas
David Poppe on capital allocation "You will make more money from your six best ideas in life than from everything else you do. When you find that great idea, you want to buy it in size."