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The stock of Graham Holdings Co (NYSE:GHC, 30-year Financials) appears to be fairly valued, according to GuruFocus Value calculation.
The company's stock price had fallen to 40 cents from a high of $10 and the company value had fallen from $2 billion to $100 million. The 2023 first-quarter earnings report also released on May 9, indicated a loss of $101 million, $12 million more than its reported loss in the first quarter of 2022.
Graham suggested a value investing strategy of buying a well-diversified portfolio of stocks that have a net current asset value greater than their market cap. This strategy is sometimes referred to as "cigar-butt" investing, because it tends to focus on struggling companies that are trading below their liquidation value .
Put another way, a stock priced below the Graham Number would be considered a good value, if it also meets a number of other criteria. The Number represents the geometric mean of the maximum that one would pay based on earnings and based on book value. Graham writes: [2] Current price should not be more than 1 1 ⁄ 2 times the book value last ...
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The United States Department of Justice blocked the proposed $3.8 billion acquisition of Spirit Airlines by JetBlue, citing that it would create a lack of competition in low-cost carriers. The stock price of Spirit Airlines dropped by 47% after the decision was made. [6] 18 January
Michael F. Price Awarded Graham & Dodd, Murray, Greenwald Prize for Outstanding Contribution to the Field of Value Investing RYE, N.Y.--(BUSINESS WIRE)-- GAMCO Investors, Inc. (GAMCO) awarded the ...