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I think I understand what you mean David, even though I am _way_ behind the understanding of most people that I have had the please to read posts from on this board after your article.

What I would agree to is that all formulas will have no importance whatsoever if you are not good at predicting the future. Also in this formula we are using the 5 year growth rate. Changing that between 15 and 20% will be a HUGE difference in the stock price. In whatever you do you will need to know a bit about the future and I think that these formulas will be very good at trying to find a bottom somewhere, or checking out if you worst-case prediction would be a buy now, but it will not help you predict the future.

There we might find Philip Fisher more usable.

Oliver aka BizKiffer
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