asset sales and phil thomas, page-41

herm ,
just on the dirty deeds cr_p . what a miserable view of the world you must have but of course everything that goes wrong for you must because someone has been a crook
Market price : what buyer is willing to pay and a seller is willing to accept.
Buyers market ;lot more sellers than buyers price low
Sellers market: lot more buyers than sellers price high
Guess which one we are in.
Right now fundamental analysis has limited application the trick is to get the attention of a buyer because there are so many things he can buy at prices he had never expected.
Value would be determined by
DCF of cashflows-limited-in current uncertainties there would be very high discount for uncertainties and Argentina political risk
What else can i buy and get comparable return
What is comparative risk.
Everyone is a seller in this market.
Market is telling me the company is only worth $30mio
What should my negotiating position -squeeze as hard as possible because i think they have to sell.
Plus a whole lot more considerations specific to purchaser

POINT No-one knows what the asset is worth but the market at the point of sale said it was worth a lot less than what it was sold for. WHAT A GREAT DEAL . Any other analysis has no merit in fact and is rooted in some sort of fantasy. If you want fantasy don't play the market because it gives you truth minute by minute.