Zillow’s Adjusted EBITDA – It Ain;t What You Think

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Zillow’s Adjusted EBITDA – It Ain;t What You Think

Zillow’s Adjusted EBITDA – It Ain;t What You Think by Cook & Bynum

When thinking about equity valuations, beware of metrics that divert attention from the “owner earnings” available to shareholders. Metrics like adjusted EBITDA are often just earnings before some other real costs.

Zillow ($Z) – a great poster child for “adjusted EBITDA”. They list 9 ways/things it doesn’t include!

Mohnish Pabrai On Uber Cannibals And Henry Singleton

At the end of October, the value investor Mohnish Pabrai gave a presentation and took part in a Q&A session at Boston College and Harvard Business School on the Uber Cannibal Investor Framework, which he has developed over the past decade. Uber Cannibals are the businesses “eating themselves by buying back their stock,” the value Read More

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