Can you help with the page in Buffett's 2002 Letter where he stated he's willing to pay 7x EV/EBIT for 8-10% growth? I couldn't find it. I only found his description of EBITDA as a "pernicious practice," and in another Letter, described it as an "abomination." Why would we leave out tax or interest expense, unless we're planning a takeover? We've to live with the company's tax and interest costs.
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Posted by ronnietan > 2017-01-15 19:57 | Report Abuse
Can you help with the page in Buffett's 2002 Letter where he stated he's willing to pay 7x EV/EBIT for 8-10% growth? I couldn't find it.
I only found his description of EBITDA as a "pernicious practice," and in another Letter, described it as an "abomination."
Why would we leave out tax or interest expense, unless we're planning a takeover?
We've to live with the company's tax and interest costs.