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Strategies & Market Trends : Value Investing

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gizwick

To: Jurgis Bekepuris who wrote (60772)	5/3/2018 9:34:38 PM
From: Spekulatius	1 Recommendation of 78764

As Jurgis said, the Terminal value is a huge part of the actual value of their investment, unless you specifically invest in cigar its with an expiration date. Now, you may not have much confidence in calculating the terminal value number, but that doesn’t mean you can ignore that it exists, it just means that you should be careful on how you interpret your calculations. I personally have given up on NPV or other calculations, since I didn’t find them particularly useful. I am sticking with qualitative assessments for my investment and see how that goes. Of course part of this is valuation as well, but I’d rather have a stock that looks good with respect to multiple angles rather than one that just is dirt cheap and the other qualitative grades are below par. Note that 4) and 5) indirectly address terminal value. Business 1) Is this a good business? 2) Is the stock cheap? 3) Is management capable and honest? 4) Is the stock Safe (balance sheet, durability) 5) Are there more Head Winds or tail winds going forward?

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