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Why Share Count Matters
One topic I find (most) investors don’t focus on enough relative to its importance is share count. Whether a stock’s outstanding shares will go up, down, or stay the same over the next 10 years can determine whether an investment is a 100 bagger vs. a market underperformer. It baffles me that this topic, at least in the investing circles I frequent (i.e. just Twitter), doesn’t get much attention. For example, assuming free cash flow or earnings yield stays constant, a stock t