tag:blogger.com,1999:blog-7294165939647321702.post849282387732705282..comments2024-03-28T13:45:43.362-04:00Comments on <center><a href="http://www.barelkarsan.com">Barel Karsan - Value Investing</a></center>: Successful Companies Rather CheapSaj Karsanhttp://www.blogger.com/profile/04493152766022812984noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-7294165939647321702.post-89610945035165087832011-01-30T23:02:31.233-05:002011-01-30T23:02:31.233-05:00Thanks Saj,
fully understand it now.. as it's ...Thanks Saj,<br />fully understand it now.. as it's operating section, and the debt in enterprise value is in financing section of the business.<br /><br />cheersAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-53782239396551923622011-01-24T18:43:33.583-05:002011-01-24T18:43:33.583-05:00Hi Anon,
If the companies are going concerns, sim...Hi Anon,<br /><br />If the companies are going concerns, similar receivables, inventory and payables balances will be required going forward. For this reason, none of them are included in this calculation. If you were calculating asset replacement values or liquidation values, then they would be very relevant and could not be ignored.Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-1764013635478614402011-01-21T08:51:31.278-05:002011-01-21T08:51:31.278-05:00Hi Saj,
could you explain to me why you didn't...Hi Saj,<br />could you explain to me why you didn't include the AP? it's be very helpful to me. Many thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-1120236043307331632011-01-20T20:08:08.936-05:002011-01-20T20:08:08.936-05:00Hi Anon,
I use:
EV = market value of equity + de...Hi Anon,<br /><br />I use:<br /><br />EV = market value of equity + debt - cash<br /><br />I do not include accounts payable as debt. So for KSW, I would get about $8 million.Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-6675676318137542472011-01-19T21:14:33.321-05:002011-01-19T21:14:33.321-05:00Hi Saj,
Thanks a lot for you post.
How do you co...Hi Saj,<br /><br />Thanks a lot for you post. <br />How do you come up with the debt for enterprise value. did it include Account payable (i think so)? As with KSW, Finance Yahoo! said enterprise value only $8mil, but fidelity says its enterprise value at $22.65mil.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-7590258474032970642011-01-14T17:29:53.946-05:002011-01-14T17:29:53.946-05:00Sorry guys, my mistake. I have corrected the discl...Sorry guys, my mistake. I have corrected the disclosure statement.Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-59667782882987156702011-01-14T10:11:02.016-05:002011-01-14T10:11:02.016-05:00Hi Saj,
I thought you were long in RIMM? Actuall...Hi Saj,<br /><br />I thought you were long in RIMM? Actually I was going to ask you how you set your exit price on that one given that it was really a growth company and so tough to calculate when the margin of safety was gone?<br /><br />Thanks,<br />PhilPhil Khttps://www.blogger.com/profile/13243560719005260585noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-56797716274923533862011-01-14T09:40:17.664-05:002011-01-14T09:40:17.664-05:00Saj,
Did you sell RIMM and MSFT? I know they are ...Saj,<br /><br />Did you sell RIMM and MSFT? I know they are both up a bit since you last wrote about them.Paulnoreply@blogger.com