2009 Cash Flow Metrics Operations 
Harvard Business
FEBRUARY 7, 2017
New research, led by a team from McKinsey Global Institute in cooperation with FCLT Global , found that companies that operate with a true long-term mindset have consistently outperformed their industry peers since 2001 across almost every financial measure that matters. The differences were dramatic.
MishTalk
NOVEMBER 25, 2013
The market has been trending ever since March 2009. The fact is that valuation measures driven by single-period earnings (whether trailing earnings or forward operating earnings) are poorly correlated with subsequent market returns, mainly because they impose the counterfactual assumption that profit margins can be held constant over time.
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