That's not the case.My view and your view is irrelevant to share price behaviour. I do not have future expectation, rather describe it as anticipation based on mamy broad factors,including your numbers.
But if you insist let me ask you what makes you closer to truth than current VG analysts with mean price target of $6?
And you know very well Mr.Market is the judge and it has not been supportive of your point of view so far.
"Besides the fact that a company can report a great PE one quarter, and be out of business the next, and that I prefer P/FCF."
Here is where the "rubber hits the road": the only positive fact of VG P/E is consistency.What i mean by that is that VG has reported P/E, quarter by quarter for many years. This is very important once this generally accepted valuation metric gets much lower,assuming it ever will.
No serious investor commits their money strictly based on P/E alone.On the other hand no serous speculator acquires shares in company with consistently high P/E.
The average VG and non VG investor is not nearly as knowledgeable,sophisticated nor emotionally involved in their core holding the way you are and there is a certain,sometime high price you have to pay.
For example you bought VG last time when pps happened to be much higher. However it was consistent with your belief.
Or maybe the real problem is not with belief that VG is always undervalued but your expectations of share price behavior based on that belief system and i'm guilty of it as well. Even as stock market keeps reminding us occasionally to work on dissolving all belief systems we can't help falling in to his trap again and again.
You are more than capable to defend your point of view but no reasonably sane shareholder can agree since VG pps is half that of EGHT.Based on your numbers it should be other way around.
And don't tell me Mr.Market is always irrational. Not again.
If decade is not enough time to bring share price to IPO level I say SELL the company.
After all this is one of only three viable options.The fourth one is eventual bancrupcy.
Mr.Masarek are you listening?
And if it did happen it would be very unfortunate for him in long run because there is no learning possible without exposure to suffering.
Fascination with the numbers?
When did you mention last time trailing P/E more than twice that of S@P or earnings per share stuck in high single digits for years?
It's not the numbers but insanity.
When blind man was asked every minute what time it was,he always replied it's noon. He was correct one time every 24 hour period. If you are asked when VG is undervalued you present "evidence" as if always but in reality you were correct twice in last seven years. So the question remains who one would you trust more,blind man or you?
It may continue untill one of two things happen: permabulls humiliation or permabulls entering learning curve on meaning of humility and respect toward market forces.True reason why we are involved in this game is selfdiscovery.
Depending how consumer side,which is still much larger part of VG belongs to,liability or asset?
Lets face it this market is shrinking rather than growing.
I'm affraid VG at this point may not have many options but to plow ahead with the transition but sending a possible sell sign might help.
Is your money the smart one or you taking about the market movers money?
I hope you don't get confused with institutional money.
Looks like my intuition is pointing in right direction: Mr.Masarek it is time to start looking for highest bidder.
Assuming there are any at all.
Luk,people do not realize to what extend stock market manipulates our minds to the point of eventually abandonment our strategy and falling in to the gambling trap. And nobody is totally immune to this influence.
The way i attempt to deal with this dilemma is always ask question: does my next move belong to gambling or calculated risk category?
And the answer is seldom clear even if you get intuition involved in decision making process.Statistical evidence is perfectly clear. 99 % of all day traders go out of business eventually.
At least Mr"Undervalued" after last accumulation had to swallow little bit of humility and seems to be keeping his mouth closed for a while. This should help.
Well,this is from my experience i'm still looking for someone who can ouperform broad market in long run based on proprietary system or mechanical orders. It's been twenty years since i started.
Good luck remembering: counting on good luck exclusively is gambling.
If i got it right:you sold your position and bought it back on the same day for the same price?
I'm sure you know statistics that are brutal for day traders.On average they have to make 70 thousand/year just to brake even and whatever they earn is short term gains.
What i like about you is humility and wisdom in one package.You report facts and attempt to stay away from value judgement.
Good work and thank you.