A Quote by Kenneth Fisher
Back in the '60s and '70s, data were scarce, and while analysts knew that companies with fat gross margins lagged those with thin gross margins early in bull markets - and overachieved in the later phases - they couldn't do much about it.
Related Quotes
Percentage margins don't matter. What matters always is dollar margins: the actual dollar amount. Companies are valued not on their percentage margins, but on how many dollars they actually make, and a multiple of that.
The individuals inside are frequently fighting that their individual voices be heard, while the walls of the place, which are the mask, and the perception, are reluctant to give over to the voices of the individuals. Those in the margins are always trying to get to the center, and those at the center, frequently in the name of tradition, are trying to keep the margins at a distance. Part of the identity of a place is the tension between those in the margins, and those in the center, and they all live behind the walls which wear the tradition.
How could Digital's collapse be so precipitous? It's because, in many ways, financial performance data is misleading. As you move up to the top of the market, you're getting rid of the less profitable products at the low end and adding business with more attractive margins at the high end. The rate of unit volume growth might be tapering off as you pursue these smaller markets, but your margins actually look better. So Wall Street rewards your stock price until you hit the ceiling.
When I began writing poems, it was in the late 60s and early 70s when the literary and cultural atmosphere was very much affected by what was going on in the world, which was, in succession, the civil rights movement, the antiwar movement, and the women's movement in the 60s, 70s, and into the early 80s. And all of those things affected me and affected my thinking, particularly the Vietnam War.
Those in the margins are always trying to get to the center, and those at the center, frequently in the name of tradition, are trying to keep the margins at a distance.
I consider Apple to be very closed. Let's say you have a book business, and you are charging 5 to 7 percent gross margins; you can't exist in an Apple world because they want 30 percent, and they don't care that you only have 7 percent to play with.
The U.S. and European markets have become mature, profit margins are lower, and equipment isn't so new. Because profits are relatively low, it limits the willingness of companies to invest in newer equipment.
The U.S. and European markets have become mature, profit margins are lower, and equipment isnt so new. Because profits are relatively low, it limits the willingness of companies to invest in newer equipment.
Something I always wanted to do, to capture that later half of the '70s. It's like the early half of the '70s is still the '60s, in that there's still kind of a playfulness and inventiveness in terms of design and the things that were going on in the culture. The second half, it got much more commodified. It's possibly the ugliest era of architecture and clothes and design in the entire 20th century, from 1975 to '81 or '82.
Percentage margins are not one of the things we are seeking to optimize. It’s the absolute dollar free cash flow per share that you want to maximize, and if you can do that by lowering margins, we would do that. So if you could take the free cash flow, that’s something that investors can spend. Investors can’t spend percentage margins.
When I was a kid, a lot of my parents' friends were in the music business. In the late '60s and early '70s - all the way through the '70s, actually - a lot of the bands that were around had kids at a very young age. So they were all working on that concept way early on. And I figured if they can do it, I could do it, too.
When I go to small races in Denmark, it's what I imagined what F1 would have been like back in the 60s and 70s. After the 70s it became a bit different. But 50s and 60s at least, people were only there because they love it.
Bull markets are great, but they breed complacency. Bear markets can be energizing. Instead of fretting over the decline in your net worth, think opportunistically about all those bargains - and the potential gains when, inevitably, a bull market returns.
While my classmates were reading their textbooks, I drew in the margins.
It's true that in tennis sometimes the margins are very thin.
People need a sense of purpose. Gross margins are not the stuff of which dreams are made. And even without going so far as to talk of dreams, you cannot inspire people to take action, create or motivate without instilling a sense of purpose, especially when times are difficult.
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