
Weekly Thoughts: Wade Saves the Day
Here is something that caught our eye this week:
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Here is something that caught our eye this week:
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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.
We’ve written previously about Admiral William McRaven’s popular 2014 University of Texas at Austin Commencement address, which argued that “if you want to change the world, start off by making your bed.” He goes on to say that if you begin your day accomplishing one small task to perfection, you will be encouraged to go on to accomplish another task well, and then another, and then another, so on and so forth. By the end of the day, you’ll probably have accomplished a lot.