"Now back to EZL, hopefully you will now cease trying to obfuscate your errors. Will you finally concede that your original assertion about the inclusion of Client Cash in their calculation of EV was an error on your behalf?"
The time-honoured industry convention is:
EV = Market Capitalisation + Cash-at-Hand
Prove me wrong.
What others want to spruik to be included in EV, such as derivatives, investments or an assortment of other assets is a matter for them. As said, I respect my family's capital is too valuable to me to take libertine views on things when prudence and conservatism has served just fine over an extended period of time.
Knock yourself out if you want to pump up your valuations with other stuff.
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EZL Price at posting:
86.0¢ Sentiment: None Disclosure: Held
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