No. of Recommendations: 19
Under $450 I will start accumulating. I didn't update my Price/PeakBV chart since a long time but think a 1.4x PeakBV is somewhere around that price?
I have no prediction to make, but for a possible sense of scale, in the last 20 years price-to-peak-book has been under 1.343 for 1/3 of the time. That's about $404 per B share at the moment, though of course it rises over time. 1/5th of the time P/peak-B was under 1.277 in the last 20 years, or about $384 at the moment.
Without a doubt a re-entry at $404 would be more profitable long term than one at $450, but of course I have no idea whether the prices OR valuation multiples will ever get that low again. My comments are merely a reminder that it's certainly possible, and in the recent past wasn't even all that rare.
Jim