Sentences with phrase «book value return»

The reason is that the earnings and cashflow backtests ran back to only 1951, and the dividend yield data, like the book value return data last week, begins in 1926.

Not exact matches

Warren Buffett's Berkshire Hathaway raised its per - share book value 14.4 % in 2012, less than the S&P 500's 16 % total return.

The Bank of Georgia, a leading bank in the Eurasian country, has had a return on equity of more than 20 % for a number of years, despite trading at book value.

Write - downs or hidden liabilities can send the stock price below book value, as can a company earning a negative return on invested capital (ROIC).

A 2012 Credit Suisse Research Institute report evaluated the performance of 2,360 companies globally over six years and found that companies with one or more women on boards delivered higher average returns on equity, lower leverage, better average growth and higher price / book value multiples.

His book, Concentrated Investing: Strategies of the World's Greatest Value Investors goes into great detail on how the strategies of some of the most successful investment legends have achieved phenomenal double - digit average annual returns over the long run.

This favorable environment has allowed RGA to earn what we believe are solid returns and increase book value around 10 % annually for the last decade.

Tax efficient cash return to shareholders while portfolio value and book value grow.

There are certainly some periods when actual 10 - year returns have deviated from the estimates implied by fundamentals (normalized earnings, forward earnings, revenues, book values, dividends).

The bank account is worth only its book value of $ 100 (the annual interest payment of $ 5 divided by my desired return of 5 %).

We observed this as high profit margins (high earnings / sales), high return on equity (high earnings / book value), and low dividend payout ratios (dividends / high earnings).

We composed a blend of five key valuation metrics — including forward price - to - earnings ratios and price - to - book value — and examined how strong the relationship was between starting valuations — or valuations at the time of purchase — and the variability of subsequent U.S. dollar returns over time.

This focus on an asset's earnings power and, in particular, the ability of assets to earn returns in excess of desired returns is the essence of my intrinsic valuation, which is based on Steven Penman's residual income model.1 The basic idea is that if a company is not earning a return in excess of our desired return, that company, like the bank account example above, deserves no premium to book value.

With this method, assets are measured at their gross book value rather than at net book value in order to produce a higher return on equity (ROE).

It may be liquid, stable and even growing, but since it's not generating any value over and above my required return, it deserves no premium to book value.

Before 2004, charitable drivers could look at a reliable source, such as the Kelley Blue Book, to find a car's estimated value and deduct that amount on their tax return.

Trading near tangible book value, Goldman offers an attractive price for a business that earns a significant amount of revenue from high return asset management and underwriting and advisory services.

WFC's equity currently trades a 1.5 x book value reflecting the 12 % return on equity, but WFC has just a 1 % risk - adjusted return on capital (RAROC).

«This quarter, we increased tangible book value per share by 11 percent while returning nearly $ 2.2 billion in capital to common shareholders.»

Suffice to say that 1x book value for BAC is about right given the bank's asset and equity returns, and the state of the credit markets.

In a business where the management team can choose to return capital to shareholders if returns available are not adequate, we think at worst the business is worth book value.

Comparing the returns between the highest and lowest value stocks gives us a good indicator of how strong a stock's book value predicts it's future returns.

To look for a correlation between book value and stock returns, we will take a look at the study's results for the HML, HML Big and HML Small alpha returns.

They focus on combining momentum stocks (highest return from 12 months ago to one month ago) and value stocks (high book - to - market ratio).

On that basis alone, AIG stock would be positioned to more than double over seven years just by returning to book value.

They sense the anti-Christian value system it carries and counsel believers to return to religious fundamentals which often include proscriptions against dancing, movies, plays, and rock concerts, and attempts at censorship of media, especially films, TV, and books.

These fundamentalists detect an anti-Christian value system in the media, and counsel a return to religious fundamentals, which often include proscriptions against dancing, movies, plays and rock concerts, attempts at censorship of media — especially films, television and books — and encouraging participation in church social events as a substitute for secular culture offerings.

In Rally Point, his third book, former Congressman Chris Gibson uses his own life journey as an Army combat commander, three - term Republican congressman and college professor as a template to return the country to its founding values, «under God,» and future prosperity.

All books and pamphlets in circulation must be returned at each meeting, or the value of any not so returned paid to the Permanent Secretary.

However, you'll still be responsible for the wholesale value of the book, the distributor's fee (18 percent of the wholesale cost), and any freight fees associated with the returned units.

, there's also a point of diminishing return, where in fact you are lowering the perceived value of the book more than the low price can make up for.

Those customers won't stay with you once something cheaper comes along whereas your real customers, the customers that you should value and that will value you in return, well, maybe they'd pay a little extra for Harry Potter because shopping in a proper book store makes them feel good about themselves.

We also offer you tremendous value, worldwide distribution channels and superior marketing guidance that will keep you returning, book after book.

On one hand, pricing longer books at a more premium value certainly improves your royalty income return per book sold, making it easier to recoup your initial expense.

Those customers won't stay with you once something cheaper comes along whereas your real customers, the customers that you should value and that will value you in return, maybe they'd pay a little extra for Harry Potter because shopping in a proper book store makes them feel good about themselves.

For an investment portfolio of $ 1,325 per share, at 7 % tax equivalent returns, Markel should earn $ 93 per share in equity next year, growing book value by 17 % ($ 93 per share added to $ 543 per share).

MKL is on my great company watchlist, and if it falls to book value or below, it's likely to be an outstanding long term investment that will allow shareholder returns to match or exceed book value growth over time.

Suppose you wanted a comprehensive book on all of the ways that there are to get excess returns from the stock market as a type of value investor (as of year - end 2013), and you wanted it in one slim volume.

Hedge fund activists tend to target companies that are typically «value» firms, with low market value relative to book value, although they are profitable with sound operating cash flows and return on assets.

Moreover, the average excess returns from 2001 to 2011 for the top quintile for price to tangible book value (5.23 %) exceed that of the price - to - book ratio (4.89 %).

I thought the 5th quintile would also result in lower average excess return for price to tangible book value given that it outperformed in the 1st quintile.

However, the P / B ratio had average excess returns of -3.84 % from 2001 to 2011 versus -3.62 % for the price to tangible book value ratio.

I've put The Wealthy Barber Returns and not the original book The Wealthy Barber on the list because the original one is much harder to find, and it's expensive if you can find it, but, as I record this, The Wealthy Barber Returns is selling for about $ 10, brand new, on Amazon, so it's a great value.

Using valuation and quality metrics based on empirically vetted academic research, the adviser believes QVAL will deliver positive alpha — higher returns than can be explained by the high - book - to - market value factor.

Indeed, Stephen Penman and Francesco Reggiani recently published a paper, Returns to Buying Earnings and Book Value, which looks at how an investor would have made out with a combined low - P / E and low - P / B strategy between 1963 to 2006.

The company trades at a price equal to its book value, with return on equity coming in at just under 11 %.

But long - term data show that investments in value companies (which have low price - to - book ratios, and are often out of favor) have produced higher returns than growth companies.

However, the returns earned from investing in commodities differ from those earned from traditional asset classes, in that commodities have no expected book value or expected cash flow, while a commodities» value comes from the fact that they are consumable (like grains) or transformable (like petroleum) assets.

We composed a blend of five key valuation metrics — including forward price - to - earnings ratios and price - to - book value — and examined how strong the relationship was between starting valuations — or valuations at the time of purchase — and the variability of subsequent U.S. dollar returns over time.

Most of our investments have characteristics that have been associated empirically with above - average investment rates of return over long measurement periods: a low stock price in relation to book value, a low price - to - earnings ratio, a low price - to - cash - flow ratio, an above - average dividend yield, a low price - to - sales ratio compared to other companies in the same industry, a significant pattern of purchases by insiders, a significant decline in share price.