thats exactly my point about the multiple (ie PE ratio) applied to the business. In 2015/2016 what was the PE?? And what is the PE now??
Price is what you pay, value is what you receive.
Too many people just focus on either: a) share price (chartists etc) b) current company fundamentals (in good times, if fundamentals are good, its a buy at any price, if fundamentals are not good, it's a sell at any price).
This inability of most to reasonably price the value of a security against it's market price is how I make my money. This approach does not work every time (otherwise the whole street would mindlessly apply it and an algorithm would be developed). But it does work more often than not. Hence with a probability higher than 50% I make my money
MFG Price at posting:
$14.43 Sentiment: None Disclosure: Held
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