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Skip Olinger » Comments » ADP

  • A Simple Valuation Model for Large Cap Stocks [View article]
    I sure would not call this simple! Doubt you will get many readers on this site.

    Very informative article. I have intuitively been suspicious about complex FCF discount models given their sensitivity to small changes. However they sure give you better insight into a company's IV that just a multiple. I have tried to translate what a multiple might mean in terms of ROIC and growth and then look to see if that is a reasonable assumption for the company.

    You are a bit vague on how to get SEPS and the CRA. I will check out your website.

    Good article. Thanks
    Jun 01 09:43 am |Rating: +2 0 |Link to Comment
  • 'AAA' Rated Companies: And Then There Were Six [View article]
    A few comments:
    - I'll go out on a limb here, Freddie MAC is not AAA. In fact it and Fannie Mae are virtually insolvent save for Government support. You may be looking a certain trenches of their securitized debt which may be rated AAA. But the company is not, unless you think the US Gov will support all its paper.

    - If Moodys downgraded Pfizer, then they ain't AAA anymore. I think you need both to be in the club. They took a big bite with Weyth

    - Note that Fitch downgraded Berkshire from AAA
    Mar 13 09:56 am |Rating: +3 0 |Link to Comment
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