New Tear Sheet on Union Pacific (UNP)

Erik Kobayashi-Solomon

April 28, 2016

Some people collect coins; others collect stamps. I collect examples of companies that most people mistakenly believe¬†operate in a free market. The largest railroad in the U.S., Union Pacific (UNP), is the latest in my collection! Discounted cash flows are the only sensible way to value a firm if you take the perspective of an …

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