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But there’s always gotta be some element of the valuation really being compelling. But even in the book I wrote in 2014, you could see that the focus on competitive advantage can never be absolute, you always have to take valuation into consideration. But maybe second to valuation as a primary consideration.
It began its journey as a Directorate, which was then converted into a Commission and finally into a Corporation in 1994. PowerGrid was listed in 2007, with GOI currently holding a 51.34% stake in the Company. The Company currently trades at a PE valuation of 11.73x, which is slightly higher than its peer Maharatnas.
Commission rates that used to be 40–50 cents per share are now routinely 1 or 2 cents, or less. housing in 2007) or a spike in oil prices (1973, 1980 and 1990)—conditions that are not present today. Valuations are elevated but nowhere near the bubble levels of the late 1990s. GDP than it was 100 years ago.
Commission rates that used to be 40–50 cents per share are now routinely 1 or 2 cents, or less. housing in 2007) or a spike in oil prices (1973, 1980 and 1990)—conditions that are not present today. Valuations are elevated but nowhere near the bubble levels of the late 1990s. GDP than it was 100 years ago.
CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. And then I was having lunch with Jeremy in Boston.
And you had the great insight and business acumen to tap out of Bear Stearns in 2007 with all of those options that you had and exercise the options, sell them and launch your shortness, the asset management. Valuations tended to crash and burn very, very cheap valuations tended to do well. Right, right. Very, very high.
And we’d sort of turn that into a valuation business. MILLER: Well actually I thought, leading up to the great financial crisis, I thought to myself, we’re going to be out of business within a couple of years because nobody wanted an independent valuation. What are the, you know, I’d literally have it in my handheld.
I was their, the regulatory comm, JP Morgan at the time had one regulatory commiss. 00:07:47 [Speaker Changed] So, so after, you know, more than 20 years at Goldman, you joined the New York Fed in 2007, overseeing domestic and foreign exchange trading operations, 2007, that, that’s some timing.
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