"So there you go. The market will pay me 40c in the dollar, to own a business that is in rude financial health, and that generates an extraordinary return on its capital."
Actually, what am I saying? It's much better than that. The market will pay me $2.40 in the dollar, for the privilege of owning the business. I pay $1, I get back $2.40, and then I have a part ownership of the business. Or said differently, I will be getting paid $10k, for the privilege of owning 0.1% of the business.
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