possible valuation, page-12

Reggiemiller,
I feel it would be inappropriate to post my valuations of CNP on HC as it is only my opinion. Also I believe it is important each shareholder does their own research. As mentioned previously, I used 2 main methods:
1. Calculation of NTA. Broke assets up into Aust/US then applied a range of discounts to assets.
Also did valuation with & without value for service business. Also calculated my valuation of the service business.
2. Study of cashflow. Allowing for various rent increases & various levels of interest rates.
Remember different methods give different answers & my method of calculating NTA also gives a range of values depending on various discounts used.
After finding these figures applied a margin of safety to see if still represented value.
Regards
Buffett