Long-term economics characteristics

1) The certainty with which the long-term economic 
        characteristics of the business can be evaluated;

     2) The certainty with which management can be evaluated, 
        both as to its ability to realize the full potential of 
        the business and to wisely employ its cash flows;

     3) The certainty with which management can be counted on 
        to channel the rewards from the business to the 
        shareholders rather than to itself;

     4) The purchase price of the business;

     5) The levels of taxation and inflation that will be 
        experienced and that will determine the degree by which 
        an investor's purchasing-power return is reduced from his 
        gross return.

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