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T Clarke (LON:CTO) has exactly the same problem as Norcros (LON:NXR) Two cyclical businesses sat atop a ticking pension time-bomb The p/e's of 5x for both are hence illusory

Pone, your chart is for the US which is indeed richly valued on a CAPE basis (Cyclically Adjusted P/E).This link contains the CAPE ratios country-by-country (albeit at 30/06/17): UK is not expensive on a CAPE basis. However, The FTSE 250 does concern me ahead of the impending UK economic slowdown/Brexit transition. Since the start of 2000, the index performances are as follows:FTSE100  +6% (i.e. it…

Interesting angle, but sadly Revolution Bars (LON:RBG) is not an asset play given that its Fixed Assets are almost wholly leasehold. In fact of the £59m of its Fixed Assets, only £1m relates to Freeholds (possibly their HQ)

What valuation method are you using Matylda? A DCF for Trifast (LON:TRI) incorporating an 8.1% growth in FCF for 5 years followed by a terminal growth rate of just 4% p.a. would suggest todays p/e of 18.4x is fair value rather than expensive. (assuming a discount rate of 9%)

There's huge (tech) M&A deals virtually every year, so a bear market will inevitably be preceeded by one.Hard to see any causality, though.

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