Heuristics of having
a high tangible capital ratio would aid regulation.
Not exact matches
So we hired a computer analyst that could help us you know mine through data and we came up with some very simple metrics for good, you know, what's a good business, and if you read through Buffett's letters, it's very clear, he is looking for businesses that earn
high returns on
tangible capital.
And if you read through Buffett's letters it's very clear that is looking for businesses that are in
high returns on
tangible capital and I described that is every business needs working
capital, every business needs fixed assets, how well does it convert its working
capital and fixed assets into earnings?
Since the financial crisis, regulators have intensely focused on
capital and now require
higher levels for all financial institutions; increasing our
capital and
capital distribution is a
tangible sign of our financial strength.
Its statistics would show how much of the rise in wealth (and expenditure) in China — or any other nation — is a result of new
tangible capital formation as compared to
higher rents, lending and interest, or the stock market.
They are valued at 22.0 x and 26.1 x earnings, respectively, with
high return on
tangible capital but low growth.
Small companies with rapid growth and long term growth potential,
capital efficiency (unusually
high return on
tangible net assets), a safe balance sheet and a reasonable valuation.
Insured commercial banks had
high capital levels at the time of the crisis — 10 % (DM: but look at the
tangible capital ratios)
[NB: i) Church House's Argo stake is held by the Deep Value Investments Fund, managed by Jeroen Bos — if you haven't read it already, I can highly recommend his recent book «Deep Value Investing», ii) XXX
Capital Management is a well - known European hedge fund, which hasn't publicly disclosed a holding in Argo to date, hence the redaction — Argo management are obviously aware of their shareholding & support, and iii) the letter was based on a GBP 14p share price & a
higher GBP / USD rate — at the current 13.875 p price and exchange rate, Argo now trades at a 36 % discount to net cash and investments, and a 47 % discount to net
tangible assets.]
Outerwall has historically produced
high returns on
capital, and it's a business that doesn't need much
tangible capital to produce huge amounts of cash flow (an attractive business), but it has been run similar to companies that get purchased by private equity firms — leverage up the balance sheet, issue a dividend (or buyout some shareholders), thus keeping very little equity «at risk».