A Quote by Benjamin Graham
The only thing you should do with pro forma earnings is ignore them.
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Only in America can you be Pro-Death Penalty, Pro-War, Pro-Unmanned Drone Bombs, Pro-Nuclear Weapons, Pro-Guns, Pro-Torture, Pro-Land Mines, AND still call yourself 'Pro-Life.'
Of course, the discounting of future earnings should hurt all stocks. But it should hurt technology stocks more than others, because so many of them are valued at extremely high levels relative to their current earnings.
If you can follow only one bit of data, follow the earnings - assuming the company in question has earnings. I subscribe to the crusty notion that sooner or later earnings make or break an investment in equities. What the stock price does today, tomorrow, or next week is only a distraction.
I'm a pro forma Bernie Sanders donor. In years past, when Michael Harrington was still alive, I was a very active member of Democratic Socialists of America.
Decent people should ignore politics, if only they could be confident that politics would ignore them
I want to make one thing clear: I'm pro-choice, I'm pro-affirmative action, I'm pro- environment, pro-health care, and pro-labor. And if that ain't a Democrat, then I must be at the wrong meeting.
When we ignore the prostituted child, we actually lend our hand to their abuse. When we ignore the widow and the orphan in their distress, we actually add to their pain. When we ignore the slave who remains captive, it's us who is entrapping them. When we forget the refugee, it's actually us who is displacing them. When we choose not to help the poor and the needy, we actually rob them. Perhaps the only fair thing to say is that when we forsake the lives of others, we actually forsake our own.
If you're anti-war it doesn't mean you are 'Pro' one side or the other in a conflict. However, it does make you 'Pro' many thingsPro-Peace, Pro-Human, Pro-Evolution, it makes you Pro-Communication, Pro-Diplomacy, Pro-Love, Pro-Understanding, Pro-Forgiveness.
Conservative talk radio hosts have conned the American people into thinking there is such a thing as a pro-life, pro-war, pro-gun, pro-death penalty Christian.
A brother with small earnings may ask,''Should I also give? My earning are already so small that my family can barely make ends meet.'' My reply is, ''Have you ever considered that the very reason your earnings remain so small may be because you spend everything on yourself? If God gave you more, you would only use it to increase your own comfort instead of looking to see who is sick or who has no work at all that you might help them.
When people do not ignore what they should ignore, but ignore what they should not ignore, this is known as ignorance.
I'm also very pleased at the fact we're well on our way in Indiana to becoming the most pro-adoption state in America. I think if you're going to be pro-life, you should - you should be pro-adoption.
Liberals believe government should take people's earnings to give to poor people. Conservatives disagree. They think government should confiscate people's earnings and give them to farmers and insolvent banks. The compelling issue to both conservatives and liberals is not whether it is legitimate for government to confiscate one's property to give to another, the debate is over the disposition of the pillage.
There's only one thing that will make them stop hating you. And that's being so good at what you do that they can't ignore you
Why should the televised stuff be only about pro gamers? For me it's more fascinating to see who's going to be the next god of gods than watching some pro gamer.
The big picture is: the main thing you should be concerned about in the future are incremental returns on capital going forward. As it turns out, past history of a good return on capital is a good proxy for this but obviously not foolproof. I think this is an area where thoughtful analysis can add value to any simple ranking/screening strategy such as the magic formula. When doing in depth analysis of companies, I care very much about long term earnings power, not necessarily so much about the volatility of that earnings power but about my certainty of "normal" earnings power over time.
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