I've already provided my detailed thoughts on DSK's short-term...

I've already provided my detailed thoughts on DSK's short-term financials - which you are welcome to look up if you wish to evaluate the detail.

In short, my view is that:

• It's not cheap against short-term earnings. Subdued earnings may persist longer than expected which may mean it's also not cheap on a 3 year outlook;
• Longer-term beyond 3 years, it may prove to be cheap if earnings rebound to previous levels. However, it is an 'if' given the last few years have been unusual so it's difficult to have complete confidence on long-term profitabilty; and
• Due to the elevated level of uncertainty, it probably should trade at a lower multiple (implying a higher return for holders) than peers with longer track records.

Hah your response was to unahb was loaded with sarcasm so I assumed that was the status quo for holder / non-holder communications