Had our last Value Investing class today. We have learnt so much under the guidance of Prof George Athanassakos and I believe that every single student will benefit from this course for a long time to come. Doing one valuation per week is a really good experience. There is no better way to learn then to get your hands dirty. I'm also really proud of our group project.
We did a valuation of Black & Decker, and valuation shows that the stock is currently undervalued by about 33%. If we assusme that sales would fall back to 2002 level, then its selling at about fair value. The whole framework that Prof taught us is a way to think about valuation. Some may think that what we have learnt is like 'valuation by numbers'. But i think it is a framework to go through a check list system to ensure that you have covered all the bases for business and financial risk, for competitive advantage, and always keep in mind not to overpay for growth or glamour.
We did a valuation of Black & Decker, and valuation shows that the stock is currently undervalued by about 33%. If we assusme that sales would fall back to 2002 level, then its selling at about fair value. The whole framework that Prof taught us is a way to think about valuation. Some may think that what we have learnt is like 'valuation by numbers'. But i think it is a framework to go through a check list system to ensure that you have covered all the bases for business and financial risk, for competitive advantage, and always keep in mind not to overpay for growth or glamour.
To quantify most of these things would probably take a life time of practise, but we have to start somewhere, and i think this Value Investing course taught by George at Richard Ivey School of Business is a great place to start.
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Was thinking about Singapore food on my way home today. I still can't bear to eat "饭菜" that costs $9 SGD here. Its just 2 meat with rice. Haiz, even SMU foodcourt sounds appealing now. hahaha. I miss kaya toast and really good coffee, aka Purvis Street 喜园coffee. I miss Ba Chok Mee and Nasi Lemak and Prata and Rojak and my grandma's cooking.
So the closest Singapore thing that i got was to go listen to 梁文福's song on YouTube....lame right?!?
And i just love 一步一步來. Never get sick of this song. I guess what makes a song great is how it stands the test of time and how people over different generations could relate to it.
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