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No. of Recommendations: 11
There are people who pay a lot of money for a healthy serving like this!

I'm sure am glad you didn't call it investment advice.
That would be illegal, of course. It's just an observation!

If it were advice, I'd skip the Gannett and put in a lot more Wells Fargo!

Here's my bravely aggressive back-of-the-envelope for Wells:
Normalized EPS this year about $4.70 (cyclically adjusted $40bn pretax
pre-provision earnings, cyclically normalized provisions of 15% of
income, tax rate 38%, giving aggregate net normalized earnings of
$21.8bn, and a cyclically adjusted P/E today of 4.80)
EPS in ten years about $12.00 (9.9%/year growth, quite aggressive)
Typical P/E in the few years around 10 years from now around 12.5
Dividend yield in the next decade average around 2.5%
Price today $22.51
The assumptions above project a total return in the next decade of
23.4%/year compounded (20.9%/year on price rise and 2.5%/year dividend).

Jim
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