If cash flow is not growing / compounding - why do you expect the share price to make newer ATHs ?

Ultimately, the stock price is a function of underlying business and the quality of cash flows

"Quality vs Quantity" of cash matters. Small and Mid Pharma have outperformed Large!

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Still waiting for those ~5 to go bankrupt. Future is unpredictable. We only need a few 100x over 15Y.

Tail-events generate the biggest panic and upside. If you survive the panic w/o jumping off the train, you deserve the 100x in few stocks.

Temperament + Business Analysis = ⤴️

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