RE:Argentis Capital Initiates CoverageInteresting find here JC. We all debate the merits of whether or not 50% of NPV is a valid estimate for a buyout or which NPV (historical headline or current day) should be utilized, etc. But, when discussing NAV, this is akin to saying the value of your portfolio is X dollars.
If a fund wanted to liquidate their holdings, they would more or less have X dollars on hand at the end of the day. Nobody in their right mind would give up their NAV for 50%!! Funny thing is, if you take a current NPV value at 50% and compare it to the NAV you posted, the figures are in the same ballpark of $12 to $15 USD or thereabouts.
Even splitting the difference with Sooner's $6, that brings us to around $10. You heard it here first Sooner, we won't be selling out for less than double digits. Winners win and sellouts lose!!
Back to the present time, still patiently waiting for the markets to drift downwards and give us one final tantalizing period to snap up shares before the final push to the goal line. Ding-Dong Powell may have helped by telegraphing that rates will be heading towards 6%. Rates at that level are still too low given the real inflation rate, but most market participants are hooked on the easy credit and won't like the punch bowl being taken away. WRN will slowly fall, be ready with some dry powder.