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Strategies & Market Trends : Value Investing
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To: Chid who wrote (51322)4/17/2013 9:37:59 AM
From: Jurgis Bekepuris  Read Replies (1) of 78748
 
Chid,

Well we disagree on couple of points:

You treat acquisitions as not impacting FCF. I subtract them from FCF, so for me 2012 FCF is almost nonexistent and therefore I cannot assume good FCF going forward.
My purchase price of 58 and change gets to me about 8% returns which in current market conditions is pretty good.
8% expected return for me does not satisfy margin of safety. I only buy stock if I expect 15% annual return. And, yes, there are stocks that satisfy this expectation in current market. :)

So I think we disagree whether this is a buy. :) I understand your valuation process though. :)
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