Just as I was happy 2009 was rolling off the CAPE calculations, here comes 2020. I will have to put CAPE investing on hiatus for another decade.
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Replying to @BarbarianCap
Haha, I think you're kidding, but I do believe that the 2017 TJCA messes with CAPE quite a bit. Correct me if wrong! (please)
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Replying to @Molson_Hart @BarbarianCap
It shouldn’t. It changes ebitda multiples but only very minorly changes WACC or what you should pay for $1 of eps or fcf.
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Replying to @non_consensus @BarbarianCap
You sure about that? As I understand it your fcf after tax goes way up...from 35% to 21% absent tax-scheming.
8:33 PM - 23 Mar 2020
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