The consensus earnings growth rate
Sharon, I'm glad you brought this 3% growth rate up.
If we want to purchase a Government bond that will offer us the same level of earnings as Checkpoint (let's say 200 million per year), then the equivelent price assuming a 3% yield would be 6.6 Billion. I guess what I'm trying to say is, what's your point. If you support the consensus growth rate as a certainty (which you imply by bringing it up as if its reality), then you would also support the idea that there is no real risk in checkpoint. Furthermore, If you have zero risk then by that measure Checkpoint is grossly undervalued.....