SoFi's negative Free Cash Flow and why they use Bulls**t Earnings
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The late Charlie Munger, one of the greatest investors of all time, famously said during the 2003 Berkshire Hathaway annual meeting, "Every time you [see] EBITDA just substitute the phrase bulls**t earnings". He expounded even further in 2020 saying, "Think of the basic intellectual dishonesty that comes when you start talking about adjusted EBITDA. You're almost announcing you're a flake."
SoFi's negative Free Cash Flow and why they use Bulls**t Earnings
SoFi's negative Free Cash Flow and why they…
SoFi's negative Free Cash Flow and why they use Bulls**t Earnings
The late Charlie Munger, one of the greatest investors of all time, famously said during the 2003 Berkshire Hathaway annual meeting, "Every time you [see] EBITDA just substitute the phrase bulls**t earnings". He expounded even further in 2020 saying, "Think of the basic intellectual dishonesty that comes when you start talking about adjusted EBITDA. You're almost announcing you're a flake."