Latest thoughts on ENAV
Why are we using bullshit earnings, as Munger puts it? Depreciation/capex is a real expense and I have no idea how profitable this business, nor whether it's cheap or expensive, without knowing their capital costs.
Why are we using bullshit earnings, as Munger puts it? Depreciation/capex is a real expense and I have no idea how profitable this business, nor whether it's cheap or expensive, without knowing their capital costs.