There are some exceptional businesses that simply don’t require additional cash. Doesn’t mean the business is flawed in any way, just means the returns on further capital deployed diminish beyond a certain point. Buffett/Munger have explained this concept at length in the contact of See’s Candies which they have referred to as “the perfect business” for the very fact that it requires limited capital reinvestment. GLTAH
FWD Price at posting:
$2.38 Sentiment: Buy Disclosure: Held
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