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Author: mungofitch Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 214659  
Subject: Re: Still cheap at 4 year high Date: 10/4/2012 11:36 AM
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Still cheap at 4 year high
Indeed!

A pretty conservative medium term suggestion of what one might reasonably expect:
Book value by mid 2015 (2.75 years hence) should be about equal to today's price,
up around 25% in the 3 years since June 30 this year.
At 1.5x book the price should then be around $200000, up 50% from here,
or 15.6%/year compounded return based on 8.4%/year compounded book growth.
The rates are more solid than the timeframe, which might be shorter or
longer depending on the particular set of years that the price crosses 1.5x.
We haven't had one in a while.

Jim
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