Dropbox: A Mispriced Cash Machine With Hidden Upside

Core Insights - The article emphasizes the importance of investing in high-quality stocks and businesses that are managed by disciplined capital allocators, which can generate exceptional returns on capital and compound invested capital over long periods of time [1] Group 1 - The investment philosophy focuses on acquiring stocks of companies that demonstrate strong management and capital allocation skills [1] - The preferred businesses are those that can sustain high returns on capital over time, indicating a robust business model [1]