Was reading the Dhando Investor by Pabrai. Talks of the business communities in India.

Marwaris : Simply expect all their invested capital to be returned in the form of dividends in no more than three years. They expect that, after having gotten their money back, their principal investment continues to be worth at least what they invested in it. They expect these to be ultra-low risk bets.

If you use this calculation, you'd quickly take a pass on most investments offered to you.

Free cash flow = money that can be removed from the business