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Posts by anantksundaram

I've said this before, and I'll say it again: if we don't have the right to privacy, we can't really have 1st, 2nd, 4th, or 5th amendment rights.
His argument is not too difficult to deconstruct. I'll round off numbers for simplicity. Apple forward PE (incl. cash) is 13.6x. On a market cap of $750B, that implies next year's earnings of 55B. But cash will account for $1B-$2B at most, so the earnings from operating assets is $53B, say. But the market cap of Apple excluding ~$190B in cash (assuming all of it is used to buy back shares) is $560B. Thus, the PE of earnings from operating assets of 560/53 = 10.6x (close...
Janet Yellen has no more predictive power about the course of the market than you or I do. If you want to believe otherwise, you're certainly welcome to do so. But you should not then attribute that belief to "institutions". (Fixed typo).
"If everything goes as Icahn says"?! What special predictive power or crystal ball does Carl Icahn have that others don't? More importantly, that the market as a whole doesn't?
It really depends on when you bought what, and held for how long, doesn't it?
Poor wording on my part: what I really mean is "net income generated by Apple's non-financial (or operating) assets". I simply shortened it to "operating assets". My apologies. Hope the meaning is clearer now.
Ah, someone's been reading his Piketty..... 
There is nothing deep about his thinking on the issue. If there is, it is opaque. I'll ask my question again: what changes the PE ratio of operating assets post-cash? What is your argument? Add: What I mean by "PE ratio of operating assets post-cash" is the "PE ratio associated with earnings produced by the non-financial -- i.e., operating -- assets." Apologies for the sloppy wording.
You do realize that if all the cash is used to buy back shares, all that is left is the operating assets, right? Considering that cash produces nearly zero income currently, and all (well, almost all) of the E in the current PE ratio comes from operating assets, what will change once the cash is paid out (and the $24.44 deducted from the share price)? Why would the earnings multiple of the operating assets suddenly jump post-cash?!
The "block list" is silly. It blocks out nothing, as you've just shown. In fact, the more incendiary the post, the more responses it generates, and hence the tougher it is to truly block.
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