Part 6/10:
Some critics point out potential NAV erosion in certain funds. I emphasize the importance of adding back dividend income and cash flow—just like analyzing a business’s net income—to accurately measure success. This perspective differentiates my approach from superficial metrics, highlighting that true profitability includes cash flow and income streams.
The Impact of Time and Personal Motivation
Beyond numbers, this journey is deeply personal. My father, a Great Depression child from Montana, exemplified cautious financial habits and an appreciation for food and hard work. His life story underscores the finite nature of time—something I cherish above all.