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A company is a legal entity. I bought Nvidia in 2018. Market mistakes become bigger than activeinvestors come in again. In a big chunk of this book is to show that people assume that if you have great management, you can live forever. I have lots of problems with the word sustainability precisely for that reason.
Or what I did with Apple in late of 2018, 2019 when you were buying the premier cash-generating story of our generation for 10 times cash flow. To the extent that we can delegate some of that decision making to someone who is legally required to look out for our best interest or automating income, especially later on in life.
If you recall, back in 2018, vol Mageddon, he was on the right side of that trade, made hundreds of millions of dollars for his firm in identifying a structural problem that was about to blow up. But before I leave the teal macro, I gotta ask you about the famous Vage trade in 2018. Everybody is an activeinvestor.
For an activeinvestor, that provides opportunities,” Graham said, referencing CPP Investments’ approach of combing the globe and often making direct investments in a wide range of assets, from airports to toll roads and energy utilities to malls. Our original investment was made in 2018. and the U.S.
Anil Gupta -- Vice President, Investor Relations Good afternoon, and welcome to the Coinbase fourth quarter and full year 2023 earnings call. Joining me on today's call are Brian Armstrong, co-founder and CEO; Emilie Choi, president and COO; Alesia Haas, CFO; and Paul Grewal, chief legal officer. On to expenses.
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