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Money and Banking Part 1: Introduction
In 2018, I put together a small booklet titled An Introduction to Money and Banking which I gave out to friends, potential clients, and anyone […]
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Charlie Munger and the Multi-Disciplinary Approach to Business
In a previous post, I provided a brief sketch of the life and career of legendary investor Charlie Munger. In this post, I want to […]
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The Life and Career of Charlie Munger
This essay is the first in a two-part series on the life and legacy of Charlie Munger. Charlie Munger, Warren Buffett’s partner and long-time vice […]
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Credit Ratios Introduction
This post is the last in a series covering financial ratios. In previous posts, we discussed ratios which measure profitability and working capital efficiency. In […]
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Activity Ratios Introduction
We refer to the ratios covered in this post as activity ratios. These ratios measure the efficiency with which the company is managing its operating […]
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Profitability Ratios Introduction
We devoted previous posts to two important profitability ratios: return on invested capital (ROIC) and return on common equity (ROCE). These two metrics are arguably […]
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Understanding Return on Common Equity
Previously we introduced a profitability ratio known as return on invested capital (ROIC). This ratio measures the amount of operating profit per dollar of total […]
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The Hurdle Rate – Understanding the Cost of Capital
In a previous post, we discussed a metric called return on invested capital (ROIC) and its variant, return on incremental invested capital (ROIIC). ROIC measures […]
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Managing Your Business for Profitability – Understanding Return on Invested Capital
One mistake I see many small business owners make is to focus on the “bottom line”, i.e., the profits of the business, while ignoring the […]
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Financial Management: A Brief Guide for Small Businesses
In the investment world we constantly hear about the importance of “thinking like an owner,” particularly in reference to the short holding periods of most […]
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