firsova,
Business loans of this type are not comparable to home loans focusing on current cash flow.
They are based on a DCF analysis.
You sound a pretty sophisticated analyst, how this escapes you baffles me. Unless ofcourse it is its just part of tree shaking.
Furthermore grants and soft loans will make the whole thing much more conducive to higher SP values.
This leads me to my opinion that entry timing cannot be better. You never now when big US style grants are announced.
ie8
mhm, page-18
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