my bbi valuation / dbct sale flows, page-110

I agree with Melua; that is the number 1 thing readers should take from this thread.

NO-ONE has said that Favro has OVERESTIMATED anything in the spreadsheet, yet BEPPA still get $1 and BBI 42c.

HOWEVER;
Favro has *seemingly* presented his spreadsheet as his realistic expectations (that's my perception of his representations. I apologize if I have read him wrong.)...

I argue that they are too pessimistic (and point to him tipping DBCT EBITA to drop in 2011 compared to 2010 [Though, note this is largely immaterial, since it will be sold by then]). And within this lies the focus of this thread.