-- "While deals often fail in practice, they never fail in projections." -- “The higher return a business earns on the capital that is invested in the business, the more cash it is producing and the more value is being created.” -- “Growth can destroy value if it requires cash inputs in the early years of a project or enterprise that exceed the discounted value of the cash that those assets will generate in later years. Growth is simply a component--usually a plus, sometimes a minus--in the value equation.”
