Value Investing How to distinguish the earnings cyclicality? |
- How to distinguish the earnings cyclicality?
- Question: Valuation impact of share repurchases in DCF / Valuation?
- Value is Dead
- NOL Investing Resources???
- Question about the relationship between EPS and BVPS
| How to distinguish the earnings cyclicality? Posted: 02 Jun 2018 01:59 AM PDT In the process of obtaining Earnings Power Value i think the most important thing is distinguishing the Earnings Cyclicality. some firms are stable and some firms are volatile. i think there are more diversity of firm characteristics than just cyclical vs defensive sector categorizing. so i'd like to ask that how do you judge if the firm you're looking at has volatile nature of earnings or not? [link] [comments]  |
| Question: Valuation impact of share repurchases in DCF / Valuation? Posted: 01 Jun 2018 07:45 PM PDT Hey everyone - Would love to hear your thoughts on how you approach capturing share repurchases in the context of a DCF, and more broadly when you're thinking about valuation. Specifically I'm referring to repurchases in the context of when a company is repurchasing a large amount of their shares, e.g. 5% or 10% per year, and I'm focused on the actual valuation impact of the repurchases, and not calculating the amount of shares that are repurchased. Thanks! [link] [comments]  |
| Posted: 01 Jun 2018 01:38 PM PDT Is it possible that moats are harder to defend in the digital age and that traditional moats are more vulnerable and thus is is harder for defensible businesses to compound strongly overtime? I feel like value investors are too focused on mean reversion without considering that technology is a secular and not a cyclical trend. This may be why value has underperformed so much in the past 10 years. [link] [comments]  |
| Posted: 02 Jun 2018 02:19 AM PDT Does anyone have any great resources for investing in special situations involving NOLs? They seem like a great source of value for management teams that know how to use them. I'd love to find a book/primer/blog post that does a great job of outlining the potential playbook for all the interesting ways to monetize them, as well as all the limitations to them. Much appreciation for the suggestions! [link] [comments]  |
| Question about the relationship between EPS and BVPS Posted: 01 Jun 2018 10:44 AM PDT Sorry if i'm asking too basics. but i'd like to describe my understanding and ask if i'm getting wrong. as you know all the people always focuses on EPS growth. but people pay relatively less attention to the BVPS growth although the BVPS is result value of accumulated EPS. of course i'm talking within an assumption that there's no dividend and capital change. (clean surplus accounting) with my limited understanding, i regard BVPS growth rate as Velocity of fundamental growth. and EPS growth rate as Acceleration of fundamental growth. so even if EPS decreases i can say the firm is still growing unless it's non negative. i'm not sure but i guess the market assumes that the firm grows at certain growth rate (BVPS growth rate) and reacts sensitively to the change of EPS growth rate. because change of Acceleration would change the Velocity ultimately. it seems the market give higher P/E when expecting EPS growth rate > BVPS growth rate state. because it's Velocity would become higher. and pays 1/r of P/E when expecting EPS growth rate = BVPS growth rate state. it's my basic understanding of stock. am i getting anything wrong? thanks for reading. [link] [comments]  |
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