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忘掉那些漂亮的赢利数据吧,作为投资者你最应该关注的是自由现金流。“赢利只是种说法,现金才实实在在。”巴菲特给企业内在价值的定义是“在企业还没有破产前可以从中支配的现金贴现价值”。这里的“现金”指的是在必要的资本支出后
Forget those beautiful profit data, as investors, you should most concerned about the free cash flow. “Profit is just saying that cash is real.” Buffett's definition of an organization's intrinsic value is “the discounted cash value that the firm can dominate before it goes bankrupt.” “Cash” here means after the necessary capital expenditure