ein Unternehmen wie Hypoport, das vor allem mit massivem Kapitaleinsatz über Zukäufen wächst, noch nicht einmal mit der Beißzange anfassen würde, hat er so erklärt:
"Responding to one shareholder who asked Buffett for some insight into his process for valuing high growth stocks, he said:
You can certainly have a situation where there's absolutely no growth in the business, and it's a much better investment than some company that's going to grow at very substantial rates, particularly if they're going to need capital in order to grow.
There's a huge difference in the business that grows and requires a lot of capital to do so, and the business that grows, and doesn't require capital.
And I would say that, generally, financial analysts do not give adequate weight to the difference in those. In fact, it's amazing how little attention is paid to that. Believe me, if you're investing, you should pay a lot of attention to it.
finance.yahoo.com/news/...ett-not-always-worth-165750987.html