Business Valuations

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The fundamental idea of a business is to convert a dollar into more than a dollar. Generally, how well a business is doing that is measured by net earnings or free cash flow. I am not clear on how one values a business as a multiple of revenue which seems to be a new norm for the new tech businesses. 

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Marry the best who will have you and other wisdom from Munger and Buffett

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Obituary: Charles T. Munger

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