Plantations of good morals are easily captivated, colonized and corrupted by
the pests of a bad company.
Not exact matches
The downside
of a
P / E is that it is based on historic earnings, and that those earnings could be low for a specific and not - to - be-repeated event (for example, a bank taking
bad debt provision, or san oil
company paying compensation for environmental issues).
Intuitively, stocks with low
P / E ratios have high earnings yields, which may be indicative
of a bargain (especially if the stock has been battered down by
bad news, but nothing has changed fundamentally for the
company or the industry).
Call me foolish, but I don't actually have a base bear case here — at
worst, over the next 5 years (noting the
company's stable record over the last five), I'm highly confident Record can declare & maintain total dividends (inc. special dividends)
of at least 2.25 - 2.50
p pa.
The
bad news is they have been in the bottom 37 % for the last 5 years, I would not expect the fund to be in the top 9 % in the next 15 years as the average size
company is 3 times that
of the average small - cap value fund and their price - to - book ratio is higher than the average small - cap average
P / B.
As such diversification
of seed type is restricted and reduced, this variety in a crop is what nature provides to prevent one
pest or disease wiping out part
of our food supply, but
worse than that a GM
company is now in control
of part
of the food chain.