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Strategies & Market Trends : Value Investing
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To: JSB who wrote (55507)6/19/2015 3:37:45 PM
From: Paul Senior   of 78680
 
MN. As I've said a few years back, I like to buy these asset managers at a price no higher than 2% of enterprise value to assets-under-management (preferably equity assets, not fixed-income). And, as I've also said--> sometimes this has worked for me, and sometimes not.

Back of envelope: 88 million shares @ $11/sh minus about $50m cash ~ $.95B. AOM ~$45B.

.95/45 ~ .021 ~ 2%. Seems good enough for me with its dividend. So I buy.

I haven't calculated this metric number for other asset managers recently. So I don't know if there would be better buys out there for me based on the metric.
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