For the Amex cards, the 2 cents per
point valuation comes in the form of a 50 % rebate, so you'll need double the number of required points in your account in order to make redemptions with half the points returned afterwards.
Note that the $ 0.02 per
point valuation comes from transferring your Membership Rewards points to travel partners.
You might ask where
point valuations come into play in this system, and the answer is they don't.
Not exact matches
To
come up with a
valuation here, I'll look at my most recent trip: a weeklong vacation in London and Paris, during which I stayed in two Marriott hotels using
points.
There's a link — albeit tenuous — between art sales and stock market performance, and at this
point, the message seems to be clear: the hype cycle that's pushed up
valuations for everything from hot technology startups like Uber and Snapchat to modernist paintings seems to be
coming to an end.
They also warn that because of extended zero - interest policy by the Fed, security
valuations have advanced to the
point where prospective nominal total returns on a conventional portfolio mix are likely to average well below 2 % annually, with negative real returns, over the
coming 12 - year period.
The main
points here are that QE has encouraged the dramatic overvaluation of virtually every class of investments; that these elevated
valuations don't represent «wealth» (which is embodied in the future stream of deliverable cash flows, not in the current price); that extreme
valuations promise dismal future outcomes for investors over a 10 - 12 year horizon; and that until a clear improvement in market internals conveys a resumption of speculative risk - seeking by investors, the current combination of extreme
valuations and increasing risk - aversion,
coming off of an extended top formation after persistent «overvalued, overbought, overbullish» extremes, represents the singularly most negative return / risk classification we identify.
But
coming out of the internet bubble, Book - to - Price has started behaving differently than other
valuation ratios, degrading to the
point where for the last twenty years it has had almost no discernible benefit on stock selection.
When it
comes to value, today's
valuation starting
point is distinctly compelling, in our view.
It has been
pointed out that «over the course of the first centuries of the empire... the noun passio (also derived from the same verb «to suffer»)
came to have a positive
valuation to refer to the «passionate» experience of heterosexual intercourse, where the inferior role was properly played by a woman and in which the man experienced his rightful pleasure.
This
came just days after CG Technology released
point spreads for every game between Weeks 1 and 16, which Bet Labs Sports, our sister website that analyzes historical data to create winning betting systems, leveraged to develop their own win total
valuations.
The man does make a
point when it
comes to current player
valuations but he never does enough when he needs to.
If you're a professional equity analyst, you've probably
come across these thorny
valuation issues at some
point in your career.
The pivotal
point for the U.S. Treasury curve happened on June 27, 2017, and the influence on
valuation came not from the U.S., but from Europe.
the European periphery is a bubble («The Euro crisis is not over... the European economies are not going to change for the better for years to
come despite all the cheating and breaking of laws»), Value investors need to venture to Russia («when you look at today's opportunity set, you're left with a set of assets where nothing looks attractive from a
valuation point of view») or buy gold mining stocks -LRB-» The down cycle could be much bigger than anybody believes if the market realizes that all the actions taken in recent years do not work.»)
More specifically, I've taken Dr. Damodaran's course on
valuation (available online at his website) and have read parts of his textbook «Investment Valuation», and am coming from a dcf vanta
valuation (available online at his website) and have read parts of his textbook «Investment
Valuation», and am coming from a dcf vanta
Valuation», and am
coming from a dcf vantage
point.
Hotel cards
come in a choice of flavors, with widely varying benefits, different
point valuations and differing expiration rules.
Each card can net you 50,000 Ultimate Rewards for a total of 100,000, which at a
valuation of 2.1 cents per
point,
comes out out to $ 2,100 worth of travel.
TPG pegs United miles at 1.5 cents apiece in his most recent
valuations, while Marriott Rewards
points come in at just 0.7 cents apiece.
So even though you might be able to get 100,000 sign - up bonus
points for Hilton and 25,000 sign - on
points for Starwood, because of the
valuation, you might still
come out ahead with the latter.
Plus, this card
comes with a decent sign - up bonus that sometimes offers as much as 30,000 Membership Rewards, which would be worth $ 540 based on a
valuation of 1.8 cents per
point.
3,500 Membership Rewards
points are worth around $ 60 depending on your
valuation of Amex
points; meaning if you're just going to make and eat the meals you'll
come out ahead of most standard meal costs.
The Hilton Honors American Express Surpass card is at 100,000, which at a
valuation of close to.05 cents per
point comes out to roughly $ 500.
This haul is worth $ 420 based on TPG's
valuations, and the card also
comes with added benefits like 5x
points on IHG purchases, automatic Platinum Elite status, a free night every year on your cardmember anniversary and no foreign transaction fees.
When it
comes to earning bonus
points, this card used to
come up short, but it now offers an outstanding 5x
points on airfare — equal to a 10 % return based on TPG's
valuations.
This post should
come with a HUGE caveat: The
valuations are useless for comparing different programs without doing a «
points currency conversion», since a
point is not a
point or a mile is not a mile if different programs award different amounts of them for comparable transactions.
With hotel
points, you can pretty much compare the cost of a room to the number of
points required to book it and
come up with a plausible
valuation.
Waller LJ at paras 26 and 27 approved Cranston J's judgment in that case, and also passages on the
point Harvey both before and after his judgment: «In any event I
come back to the decision of Cranston J in S G & R
Valuation Services v Boudrais.
At this
point, a couple of things can occur: a) the Seller can
come down in price to match the
valuation; b) the Buyer can bring the difference in cash or c) the Contract can terminate.