Forum Archive Index - November 1999

["Mark Hubbard" <mhubbard@es.co.nz>]

I thought I would like to start off a different sort of thread. What I am
interested is your valuations on individual NZSE shares - and valuation
methods used.

>From now on as I'm looking at various shares for myself, I'll post my own
(very subjective) valuations and assumptions that I'm using. I would
appreciate your input, especially regarding the assumptions. I don't mind
ridicule.

Firstly though, and I'll only post this once, it is important to note that I
am not a trader, rather, I would call myself a long term 'value' investor.
I believe that a share is worth the present value of a company's future
cashflows, although, I am discounting a company's future earnings, rather
than its cashflows, which will give a more conservative valuation. Thus, I
am looking for companies that I believe are selling at a discount to the
present value of their future income streams.



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