Not exact matches
Because there is no public
market for our common stock, our board of directors determined the common stock
fair value at the stock option grant date by considering several objective and subjective factors, including the price paid by
investors for our preferred stock, our actual and forecasted operating and financial performance,
market conditions and performance of comparable publicly traded companies, developments and milestones in our company, the rights and preferences of our common and preferred stock, the likelihood of achieving a liquidity event, and transactions involving our preferred stock.
Given the absence of a public trading
market of our common stock, and in accordance with the American Institute of Certified Public Accountants Accounting and Valuation Guide, Valuation of Privately - Held Company Equity Securities Issued as Compensation, our board of directors exercised reasonable judgment and considered numerous and subjective factors to determine the best estimate of
fair value of our common stock, including independent third - party valuations of our common stock; the prices
at which we sold shares of our convertible preferred stock to outside
investors in arms - length transactions; the rights, preferences, and privileges of our convertible preferred stock relative to those of our common stock; our operating results, financial position, and capital resources; current business conditions and projections; the lack of marketability of our common stock; the hiring of key personnel and the experience of our management; the introduction of new products; our stage of development and material risks related to our business; the fact that the option grants involve illiquid securities in a private company; the likelihood of achieving a liquidity event, such as an initial public offering or a sale of our company given the prevailing
market conditions and the nature and history of our business; industry trends and competitive environment; trends in consumer spending, including consumer confidence; and overall economic indicators, including gross domestic product, employment, inflation and interest rates, and the general economic outlook.
However, a rule change by the Reserve Bank of India in January 2014 prevents foreign
investors from selling stakes in Indian firms
at a pre-determined price or above
fair market value — and DoCoMo's exit price is above
fair value for Tata Teleservices.
When you wrote that you would sell something only if you had a better opportunity, it sounds different from a traditional
value investor (buy
at a discount to
fair value and sell when it approaches
fair value, all assuming you can determine a
fair value that the
market is not properly recognizing).
With stock
markets the world over trading well below
fair value, some
investors are looking
at the current global financial weakness as an opportunity to scoop up bargains before the inevitable recovery.
In some cases,
investors will try to get out of funding commitments, and even try to sell their interests to a third party, usually
at a significant concession to the hard - to - define
fair market value.
If one
investor looks for undervalued
market opportunities while another
investor evaluates a stock on the basis of its growth potential, these two
investors will already have arrived
at a different assessment of the stock's
fair market value.
Difficult quarters go with the territory of being an equity
investor, and it is not surprising that global equity
markets have faced more turbulence in the last several months as
market prices for most equities trade
at or above their
fair underlying
values.
This enables the
value investor to spot and take advantage of bargains; stocks selling
at a price significantly below its intrinsic — or
fair —
value (the price, which the security should be traded
at as so forth the
market was governed exclusively by intelligent buyers and sellers).
At the top of the bull market, stocks were priced at three times fair value and all investors came to believe that they had accumulated far more wealth than they had in fact accumulate
At the top of the bull
market, stocks were priced
at three times fair value and all investors came to believe that they had accumulated far more wealth than they had in fact accumulate
at three times
fair value and all
investors came to believe that they had accumulated far more wealth than they had in fact accumulated.
⁵ In other words, while the efficient
market hypothesis predicts that public securities will always trade
at their
fair market value, private
market assets such as commercial buildings may trade for well below their true
market values, hence providing an opportunity for
investors to generate above -
market returns.
A dividend will simply reduce Book and
Fair Value, of course, but I haven't seen any mention of dividend anywhere else since then, so any confirmation may prove a pleasant surprise and hopefully attract some fresh attention and
investors... Second was EIIB's retirement of 3.3 % of its Shares in Nov 2009 through a tender offer
at GBP 7p, a premium of 141 % to the
market price
at the time!
As Sean mentions the competition these days
at court house steps is intense and if a property goes 3P that means it had some equity and there would be multiple
investors tracking it (of course there is always the home owner buying it back and will pay more than an
investor or someone who actually wants to move in and will pay right up to
fair market value for it)..