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A primer on evaluating how a company uses cash

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Let's assume you could go back in time one second for every dollar that nonfinancial companies in the Standard & Poor's 500 stock index had in cash. If we were talking about $1 million dollars, we'd be just 12 days younger, and we'd be able to take back that unfortunate remark about our neighbor's haircut. If we were talking about $1 billion dollars, we'd be able to talk to President Reagan.