wiegveld schreef op 25 september 2022 16:40:
Lees dit en je snapt waarom je morgen uit JET moet vluchten!
macro-ops.com/value-investing-inflati...Citaat:
The “worst” high-inflation investment would look something like this:
Low gross and operating margins
Most (if not all) of its COGS are highly anchored to inflation rates
Cannot raise prices without severe customer substitution/trade-off
Won’t generate cash flow until years into the future
Requires additional (higher cost) capital to survive
Product/Service is a discretionary purchase
These are your loss-making, nice-to-have software management tools (ASAN, EXFY, etc.), your furniture retailers (RH), restaurants with commodity-driven variable cost structures and operating leases, and fast-growing companies with promises of distant free cash flow generation.