Kellblog · Dave Kellogg
articleinsightPlease Don't Smooth the Metrics
26 July 2026Operations
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About KellblogInvestors have lots of good habits when it comes to metrics. Operators can copy many of them. One habit they shouldn't copy, however, is smoothing.Smoothing has a legitimate purpose. Investors are trying to understand businesses. They're looking for long-term trends and patterns, so they
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