SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?


To: Wallace Rivers who wrote (43594)7/28/2011 3:52:10 PM
From: Paul Senior  Respond to of 79164
 
LM: "Legg Mason Profit Rises 25% as Market Rally Offsets Client Redemptions"

bloomberg.com

Reiterating, for me I'm interested almost solely on aum, so I'll be concerned about client redemptions. Even with aum down a little, I'm valuing (on aum) LM to be worth over $6B (allowing for the less profitable but larger bond fund component of the business). So with LM's enterprise value of $4.7B, the stock is undervalued. I'll follow you Wallace Rivers and add a few (just a few) shares to my position now.