Originally Posted by
Nasi Goreng
Hi Roger, have you adjusted your PE of 23.5 strategy since rates have been falling? I'm not quite sure right now where they were 2 years ago but equity values have increased in this environment which should push up the values of growth companies. The market should be willing to pay for growth in this environment because there is not a lot of it so maybe we are prepared to pay higher rates now than we were back then. I'm not trying to answer the question for you, just putting some of my thoughts down to. I don't have a number in mind of what I'm prepared to pay for a growth company, it depends on many things but in this case, I believe SUM is valued appropriately right now with further upside over the next year.