After volatility spiked at the end of 2018, investors were reminded that portfolios need ballast during challenging market environments – this is especially the case for portfolios seeking post-retirement income. In the book, Free Cash Flow and Shareholder Yield: New Priorities for the Global Investor, authors William Priest and Lindsay McClelland outline a compelling case to consider the true drivers of business—and therefore shareholders—returns. They say the key to understanding a company and the return on investment it will provide requires a focus on the cash generation drivers of the business – rather than a focus on traditional accounting terms...