Not exact matches
And, if it is used to fund
investment, it is also important how
productive that
investment turns out to be
over time.
You'd think that corporate debt would grow in proportion to total sales, as this additional debt is used to fund
investments in
productive activities that create more sales and contribute to the economy, and that higher sales, and presumably higher earnings would create a proportionate increase in the value of the company, and thus in its stock price, and that they all go up together, not in lockstep but
over time more or less at the same rate.
Teachers find
over and
over that this
investment of
time and effort is well worth the payoff of calm,
productive, and joyful classrooms.
While I have written about the subject many
times over the past twenty years, it seems
productive to write to you about the disparities that exist between the analyses that goes into the bulk of Third Avenue Management's (TAM) equity
investments on the one hand, and the beliefs and analyses that pertain to the efficient market hypothesis (EMH) on the other hand.