Whats To Love About Negative Cash Flows?

In November last year, Switzerland-based investment manager Robert Vinall, whose Business Owner TGV hedge fund has "trounced" the market since 2008, published a memo at a meeting of the Munich Value Investors Group titled "Five Things I Am Doing Differently Today vs. Five Years Ago."

See also: Hidden Value Stocks 

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This memo was published in full in the December 2017 issue of Value Investor Insight and provides some interesting food for thought. For example, one of the thing's Vinall and the team are doing today is being "more open-minded about what constitutes a value investment." This is a fascinating topic and one that's often discussed among value investors.