Hi Francois. Thank you for your attempt at interpreting my article. Unfortunately your two statements are wrong.
If you knew a bit more about corporate history, you would understand that, in the past, profitability was a fundamental parameter to value and analyze businesses. In today’s private markets, this is not necessarily the case.
Nowhere do I state that ‘profits can stay away forever’. This is your erroneous interpretation of my argument. Nowhere do I state that ‘long-term viability doesn’t matter’. All my piece argues is for private investors to make money, they do not need to concern themselves with the long-term viability of their portfolio assets. The reason for that is that private investors will have - they hope - sold out by the time the viability aspect will have been demonstrated…or not.
Hi Francois. Thank you for your attempt at interpreting my article. Unfortunately your two statements are wrong.
If you knew a bit more about corporate history, you would understand that, in the past, profitability was a fundamental parameter to value and analyze businesses. In today’s private markets, this is not necessarily the case.
Nowhere do I state that ‘profits can stay away forever’. This is your erroneous interpretation of my argument. Nowhere do I state that ‘long-term viability doesn’t matter’. All my piece argues is for private investors to make money, they do not need to concern themselves with the long-term viability of their portfolio assets. The reason for that is that private investors will have - they hope - sold out by the time the viability aspect will have been demonstrated…or not.
I hope these points are now clearer to you.