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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (58011)	9/16/2016 7:17:33 PM
From: staring	Read Replies (1) of 78742

Normalizing the PE to the last 10 years Earnings, the PE I get is near 9. Assuming the historical ROE and a cost of capital of 12% and a modest growth of 1% (since the company cost of capital is higher it ROE, growth destroys value), the justifiable Price to book I get is 0.7, which is roughly that the company currently has. Therefore, for me SENEA is appears to be fairly priced (unless operating performance improves in the future..). Another thing that puzzles me is that in 10 years, there were barely any cash distributed to shareholders in the last 10 years (regardless of its form)...

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