New tax rate from 30% to 45% for KSL, page-70

I feel like I have been with this stock forever and I also feel like KSL is well managed but banged about by external factors eg the failed Westpac purchase. Now we potentially have a somewhat arbitrary tax grab. I have always assumed a PE of eight is about right for the risk involved. Sticking with that let’s assume no profit growth from last year and apply the new tax rate - you end up up with earnings of ten cents ie the stock gets valued at 80 cents. Let’s assume profit growth of 10 % and we can value the stock at 88 cents. Of course if you get growth and the tax isn’t applied then let’s say it’s worth $1.20.
Personally despite brave words from Pawson I think the new tax rate will apply, they will grow earnings and so 90 cents to $1.00 figure in about twelve months. Don’t get greedy Don’t get excited that would be my motto with this stock
Just my own opinion