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Invest 'n' Logic  

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  • ACCO Brands: Don't Be Afraid To Jump On This 20% FCF Yield [View article]
    Thank you,
    You may be right as far as an entry point as long as the potential dip is not already already factored into the price. Whether it is or isn't is anyone's guess.

    In general I try not to guess why something is priced exactly the way it is. Rather, I determine a value for the company and then see if I am comfortable investing at a particular price. If It dips and my valuation hasn't changed, I buy more.
    Oct 14, 2013. 09:31 PM | Likes Like |Link to Comment
  • ACCO Brands: Don't Be Afraid To Jump On This 20% FCF Yield [View article]
    It was at the CFO Leadership Forum in Atlanta on June 28th, 2012.

    The full transcript is available at: http://bit.ly/1652DBn
    Oct 11, 2013. 10:02 AM | Likes Like |Link to Comment
  • ACCO Brands: Don't Be Afraid To Jump On This 20% FCF Yield [View article]
    I am referring to "forward" free cash flow for the full year of 2013 based on company guidance (which is less than the last twelve months cash flow). The $150 million is also net of ~$30 million in one time restructuring cash outlay.

    I did not include a declining EBITDA model because the point I was trying to make with the model is that long term sustainability is all that is needed in order to get a big boost in equity value. Whether or not this company will be able to maintain its EBITDA is the second point of the article.

    I admit though that I probably should have added in a declining scenario to "model" out how much of a margin of safety there is to work with.
    Oct 8, 2013. 08:33 PM | 1 Like Like |Link to Comment
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