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6) The Book value is $28-29 this year, and $31 for 2012.7) The Graham number for NDAQ, as a value stock valuation method is sqr (22.5*29*2.4)= $39.5This is my minimum target.
Don't know about 39 - but it is cheap @ 24. 1. Stable business that is not going away 2. cash machine 3. increasing earnings yield for years to come.The only argument I can see for it being worth less is that the management does something dumb - which is well within their abilities!.