Returns of FANGMANT.
Um, AMZN has $264B of PPE assets on the books and $76B of capital lease obligations.
AAPL has $42B of PPE assets on the books and $0 of capital lease obligations.
NVDA has $5B of PPE assets on the books and $0 of capital lease obligations.
Does he look at financials or just go by feelings?
.
He uses his proprietary discounted FCF valuation. He buys with a margin of safety. For example, his fair value for AAPL is $167, so he is willing to buy below $150.
I have serious doubts about any math he does.