Starbuck. Starbuck, buck, buck, buck, buck, buck, buck, buck.

And at least it'll give you a sense of how revenues, gross profit, operating profit, pre tax income and net income really are different.

So you've probably heard not only the term earnings, you've probably also heard the term earnings per share.

Minus 500,000.

Back, back

This is what the owners of the company get before they pay the government.

(Laughter) But I know it's the bottom line, or one's perception of it, that motivates people in the end.

But here you see it means very, very different things.

W wait!

This is really important to pay attention to, because so many people say, oh, a company made this much.

I'll just abbreviate that as Nl.

Go ahead, eat.

And when people talk about earnings of a company, this is what they're talking about.

Our interests clash with theirs.

Well, uh, no plowing.

Back up the car.

Kill the goose that lays the golden eggs.

With trade, there's mutual interdependency and mutual gain between parties.

The taxes will be 153,000.

I'm not a charity commissioner.

A benefit to both our worlds.

We are assuming a very simple world, were the is no taxes, we have no debt, we have no intrest or things

But when you lower the Price to Earnings you are increasing the Earnings to Price.

They buy more of your service and they tell more of their friends, which leads to more profit.

And if I would have missed,

The key point is no plowing.

So that's a nice thing to keep in the back of your mind, this return on asset concept, and it's very closely tied to operating profits and the actual assets of a firm.

And that's what these brands did.

FDlC insured.

And that's my dad found that.

The rewards would be... enormous.

Put it in reverse!

Read the kind of books that are useful to you.

Read the kind of books that teach you something.

Read books that are worthwhile.

The stranger turned round with his back to the fireplace and put his hands behind his back.

And let's say, assume if I inherited this million dollars, I didn't finance it.

Before Interest and Taxes.

Let's say this is what we assume is how many cupcakes we sell.

The reason this is happening boils down, in my mind, to one basic problem, which is our inability to perceive the difference between public benefits and private profits.

This is 350,000 of net income.

This was interest. This was non op income.

This guy makes what is this?

And then I was left with 1 million.

It's good for everybody.