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It's a decent company on sale at a P/E of 8 or 9 ....More rationalized hope than exuberant hype I'd like to believe.

Today, NWL board added another $2.5 B to the buyback and the new buyback authorization stands at $3.5B. This is against a market cap of $12 B. The company may eventually spend up to $5B on buybacks based on their re-organization plans.

That's a significant amount of money that is going to go towards retiring stocks. The buybacks and their ability to divest parts of their business to fund that is going to be the narrative for the next 2 years, not PE.

If you are thinking of buying it for the realllly long-term, you are buying into uncertainty. Until the divestiture completes you don't know the shape of the business they are going to be left with.
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