it depends on wha valuation model you use as to paying to much for an asset. Macquarie has a habit of using projected figures (and acurately) while most number crunchers will only use historical, and as a journalist who has to report you would say the futuristic thinkers seems to be over valuing an asset (by a factor of two) ... but when you bring a private asset into market cap its generally worth twice the amount
budapest!!, page-8
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