More than 10X (TEN Times) Current Share Price, page-248

You come across only one or two stocks like PMY in a lifetime.

Investors can spend years searching for differences between PRICE (Market Cap) and real VALUE.

Investors seek ENTERPRISE Value and look for MIS-PRICING as their opportunity to BUY, understanding that share prices over time tend to track underlying value. INVESTORS accumulate when MIS-PRICING occurs.

Traders act as speculators, attempting to identify market sentiment and to capitalise on the short term movements of share prices. The chances that traders get caught out increase when underlying values are ignored and sentiment changes rapidly because of a widening appreciation of value among investors, unknown timing of communication of value catalysts, change in market dynamics e.g. commodity prices. That is, at some point they sell out, but cannot get back in, as the market stops back tracking.

Right now, no matter how you analyse it there is a yawning gap between the Market Cap and the enterprise value of PMY.

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