
Weekly Thoughts: Optimism
Here is a topic, first posted in 2014, that we have been thinking about recently:
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Here is a topic, first posted in 2014, that we have been thinking about recently:
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When we lived in Cambridge, we frequented all the common outdoor exercise spots — leisurely jogs along the Charles, grueling stairs in the Harvard Stadium, and heart-rate spiking intervals on the Newton hills. As such, we enjoyed learning more about the “Tempo Loop” in the Harvard Athletic Complex.
While we are more of a Smarties group, we were interested to learn this week that brown M&M's carry relevant significance despite being the worst color for a candy variety. They are also the most notable thing about a backstage concert rider — the legal document that outlines terms for concert promoters — for Van Halen’s 1982 World Tour.
Our regular readers will know that our metric of choice is Free Cash Flow. This is because the crux of our strategy relies upon our ability to purchase cash flowing businesses from retiring owners, and then, over the long-term, using the cash flows from those businesses to fund the equity requirements for growth—whether it be supporting internal growth initiatives or writing a check for our next acquisition. Without free cash flow, our strategy stalls.