RE: 200,000 BUY29 May 2024 18:38
Prefer to take note of Warren Buffets quote regarding companies utilising EBITDA, he commented “When Charlie and I read reports, we have no interest in pictures of personnel, plants or products. References to EBITDA make us shudder - does management think the tooth fairy pays for capital expenditures? We're very suspicious of accounting methodology that is vague or unclear, since too often that means management wishes to hide something. And we don't want to read messages that a public relations department or consultant has
turned out. Instead, we expect a company's CEO to explain in his or her own words what's happening.
Considering the track record of the long gone but ridiculously overpaid Blue Moon who consistently took a vastly inflated salary from a company that has never ever turned a profit but based pay on performance of sales growth rather than genuine profit then it would appear that Buffet was spot on