gokou3

Sears Holdings' True Value

Well, I would argue that there's not much profit to make from your short. Let's apply discount factors to the 4 components of values based on the negativity of your comments: 50% on retail, 80% on RE, 80% on brand, and 50% on EL. I get
240*(0.5*0.24+0.8*0.45... The discount factors are of course arbitrary (perhaps you can spell out what d.f. you think are appropriate), but the $158 estimate is 76% higher than its current PPS of $90. In fact, my discounted RE value is $86.4 (i.e. 240*.8*.45) which is almost equal to its PPS.