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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (58934)1/16/2017 7:36:57 PM
From: Graham Osborn  Respond to of 78659
 
Your description of MCO's operations made me smile, perhaps in memory of the batty analyst at S&P in The Big Short. Anyway, you are right that a company like this would be expected to have low levels of fixed assets. As I mentioned, I'm not particularly interested in the fixed-asset component of tangible book anyway. What I am interested in is the liquid-asset component - cash, securities, easily-liquidated inventories, receivables, and the like. The companies I like have very strong current-asset and working-capital positions, and that is the part of tangible book I care about.



To: Paul Senior who wrote (58934)1/16/2017 8:45:24 PM
From: E_K_S  Read Replies (1) | Respond to of 78659
 
I wonder how many of these people could be replaced by AI 'smart' Algos that poor over the financials and come up w/ ratings.

So maybe there is value in their franchise but I wonder how big that moat is.

EKS


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