In this video I talk about Return On Capital Employed and how it affects returns for the long term investor. I try to answer the question, does the better returns on capital really justify higher multiples? Or should you only focus on low valuations?
I took the ROCE numbers from finbox.com

This publication’s content is for entertainment and educational purposes only. I am not a licensed investment professional. Nothing produced under the Lunch Investing brand should be thought of as investment advice. Do your own research. All content is subject to interpretation.

0:00 - Intro
0:12 - Terry Smith on ROCE
02:44 - Charlie Munger on Returns on Capital
03:17 - What is ROCE
05:01 - Google Example
05:58 - Final Thoughts





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