Take this course to advance your career and become a better investor:
http://valuationmasterclass.com/ My name is Andrew Stotz and I've been valuing companies for decades. When I was Head of Research at CLSA, I was voted the No. 1 Analyst in Thailand two years in a row.
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Mistake #6 Underestimating working capital investment
In this video, I define common valuation mistake #6 Underestimating working capital investment.
Keynotes:
• Net working capital (NWC) from a valuation perspective versus an accounting perspective.
• Net working capital components: accounts receivable, inventory, other current assets, accounts payable, and other current liabilities.
• Cash flow forecast calculation.
• Working capital calculation and the change in working capital that matters for forecasting in valuation.
What you will learn from this video:
• Unlike in account, in valuation, we exclude cash and short-term borrowing from net working capital
• Changes in Net working capital (NWC) are volatile because it results from five separate forecasts
• Net working capital (NWC) is a small but volatile investment item. Large deviations from past trends usually are a mistake, so required detailed explanation.
Want to know more about common valuation mistakes. Follow the links below:
# 1 Overly-optimistic revenue forecasts
https://youtu.be/9jkfAPcDomY# 2 Underestimating expenses causing unrealistic profit
https://youtu.be/fP27UEbPYi8# 3 Growing fixed assets slower than revenue
https://youtu.be/3dSsE13DhJ4# 4 Confusing growth with maintenance Capex
https://youtu.be/QH4QJQedupE# 5 Forecasting drastic changes in cash conversion cycle
https://youtu.be/fBcuoCPN43k# 6 Underestimating working capital investment
https://youtu.be/W3bSlMQac2cFind me here:
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This site provides links to random videos hosted at YouTube, with the emphasis on random. 🎥
Origins of the Idea 🌱
The original idea for this site stemmed from the need to benchmark the popularity of a video against the general population of YouTube videos. 🧠
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Obtaining a large sample of videos was crucial for accurate ranking, but YouTube lacks a direct method to gather random video IDs.
Even searching for random strings on YouTube doesn't yield truly random results, complicating the process further. 🔍
Creating Truly Random Links 🛠️
The YouTube API offers additional functions enabling the discovery of more random videos. Through inventive techniques and a touch of space-time manipulation, we've achieved a process yielding nearly 100% random links to YouTube videos.
About YouTube 📺
YouTube, an American video-sharing website based in San Bruno, California, offers a diverse range of user-generated and corporate media content. 🌟
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Users can upload, view, rate, share, and comment on videos, with content spanning video clips, music videos, live streams, and more.
While most content is uploaded by individuals, media corporations like CBS and the BBC also contribute. Unregistered users can watch videos, while registered users enjoy additional privileges such as uploading unlimited videos and adding comments.
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YouTube and creators earn revenue through Google AdSense, with most videos free to view. Premium channels and subscription services like YouTube Music and YouTube Premium offer ad-free streaming.
As of February 2017, over 400 hours of content were uploaded to YouTube every minute, with the site ranking as the second-most popular globally. By May 2019, this figure exceeded 500 hours per minute. 📈
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