The US Equity All Cap Undervalued portfolio invests in stocks that are selling for less
than their intrinsic value as determined by a conservatively applied discounted cash flow analysis.
Not exact matches
In fact, there's an argument to be made —
as Dennis Berman does at the Wall Street Journal — that the Verizon bid for AOL says more about Verizon's difficulties
than it does about any
intrinsic value that its target might have.
We define
intrinsic value as the amount that would accrue to the owners of a security if the underlying company were sold to a rational and well - informed buyer, or the company was liquidated with the proceeds distributed to security holders, or where the particular security sells at a price that would yield no better
than a security considered ultra-safe, such
as a US Treasury note or bond» Lou Simpson
But if there has always been a realm of finite actualities, and if the existence of such a realm (though not with any particular order) is
as eternal and necessary
as is the existence of God, then it also makes sense to think of eternally necessary principles descriptive of their possible relationships... [T] his correlation between freedom and
intrinsic value is a necessary one, rather
than a result of divine arbitrariness (PTE 711).
For example, deforestation, which usually accompanies development
as now practiced, has been more vigorously opposed by those who see
intrinsic value in the whole of the living world
than by those who are concerned chiefly for peasants and workers.
It suggests that the whole of nature is part of the divine self; it shows how the exploitation of nature impoverishes the very richness of divine experience; it encourages a respect for the
intrinsic value of individual organisms; and, in saying that God loves the world
as a self loves a body, it suggests that embodiedness itself is a good to be cherished rather
than an evil to be avoided (McFague, 74).
We also judge that some species have more
intrinsic value than others, and this is important even when they are not so important for the system
as a whole.
It is just such a split
as this that Buber avoids, and it is for this reason that he can speak of «
intrinsic value and disvalue» in a more genuine sense
than either Kant or Sartre.
The living cell has greater
intrinsic value than aggregates, but cells may still be treated primarily
as means.
But I have never felt the need to justify such behavior by thinking they have less of a right to live and blossom (or that they have less
intrinsic value as living beings)
than other living beings, including myself....
The fertilized ovum can be recognized
as having some
intrinsic value but less
than that of the newly born infant.
If
intrinsic value is «measured» by richness of experience, it follows that creatures such
as primates and whales have more
intrinsic value than worms and mosquitoes.
The use of the name «Tabasco» preceded the patent by about two years, and,
as similar sauces with the same ingredients have for many years been on the market, it is clear that it was the name and the
intrinsic merit of the article, rather
than the patent, which gave the sauce its
value.
That said, too often the investment of money in a company is treated
as a success in and of itself rather
than the creation of true
intrinsic value in solid and sustainable models.
Most people who go into teaching are motivated by
intrinsic rewards — the
value of the work they do — rather
than extrinsic motivators, such
as money, many educators believe.
Members embrace the
intrinsic value and right to exist of the other -
than - human and of natural environments, and recognize that the pursuance and advocacy of a planetary ethic of environmental and social justice needs to be grounded in,
as well
as restorative and celebratory of, local and indigenous communities and cultures.
If they rate an issuer's credit
as higher
than the external credit ratings, they are often able to pick up the security at a discount to their perception of it's
intrinsic value.
Perhaps then by grounding investment decisions in something knowable and
intrinsic to a business — even something
as simple
as its book
value — you can do better
than basing decisions on past price movements or predictions regarding how extrinsic factors may impact its business.
Traditional
value investors add another layer of conservatism by requiring a margin of safety — which just a way of saying that they will only pay a price that is much lower (30 % -40 % lower)
than what they calculate
as the
intrinsic value of the stock.
As a
value investor, you should know that your success will be fully dependent on the accuracy of your answers on simple questions like what is the real
value of a specific company and if whether the actual
intrinsic value is lesser
than the total purchase price of the shares.
You never need to exercise that right, and in fact, since there's almost always some time
value as well
as intrinsic value, you are better off selling the option
than to exercise it.
This is important when ascribing an
intrinsic or long - term
value to the operations,
as the risk of obsolescence for the majority of the operations is considerably lower
than other individual companies within the market.
It's our job to increase
intrinsic business
value — for which we use book
value as a significantly understated proxy — at a faster rate
than the market gains of the S&P.
I believe these risks can be countered with: a) a greater level of pre / post-acquisition financial disclosure (
as in i) above), allowing investors to better evaluate the underlying
intrinsic value of an acquisition, and b) paying acquisition consideration in newly issued shares, rather
than cash — vendor / employee ownership of EIIB shares would create far better alignment in newly - acquired businesses.
Just because the stock market
as a whole is overvalued and high debt levels will make growth difficult and surprises more likely to be negative
than positive, it doesn't mean that there aren't plenty of stocks that are undervalued and where
intrinsic value is, in fact, growing.
Like his hero Marcel Duchamp, Creed
values the placement of items, rather
than their
intrinsic qualities, in qualifying their meaning
as art objects.
«We need to start
valuing the
intrinsic parts of the forest
as an intact entity rather
than having to convert it for something else.»
Why is it that a document that,
as a British civil servant once described it, is nothing more
than an archaic piece of paper with no
intrinsic value, should attract such attention?
When the price of Sparkle Coin reaches $ 25 per coin, there will no longer be any need to back the coins with diamonds
as the worth generated by the economy built around Sparkle Coin will have proven itself, thereby providing Sparkle Coin with its own
intrinsic value five times greater
than the initial price.
This is smarter
than Ely's «no
intrinsic value» argument, but then Edwards stops taking us seriously and notes with alarm that a pub in London and gaming company Steam will no longer accept bitcoin
as payment.
Given that Ethereum was selling for less
than $ 10.00 at the beginning of this year and is now over $ 400.00, the fact that Ethereum has been lauded
as the future of cryptocurrency tells you a lot about its
intrinsic value.
He says that while decentralized cryptocurrencies such
as bitcoin lack
value because they are not anchored to either
intrinsic value or a state - backed currency, a government - backed digital currency would provide even more pricing stability
than conventional fiat currency:
Individuals must learn to
value themselves and others for
intrinsic rather
than extrinsic qualities such
as appearance.
Real assets hedge better
than paper assets,
as the former has
intrinsic value whereas the latter does not, making real estate a better inflation hedge
than stocks.