Ccx: global growth - how Lew is doing it, page-32

i think we should not also forget that some one offered to buy city chic alone for 100 million i think the market forgot that offer. this was prior to its current balance sheet of 38 mill or so from businesses sold. theres a lot of things to consider. when ever i look at Instagram especially the usa page its literally growing everyday and their engagement (likes on posts is quite different from even a year ago). on top of that they have signalled to open larger stores as off now and they also have their whole sales thing going for them. if you look on nordstrom n macys and get the item listings, theres over 500 items alone listed . plus these earnings go into margins. also if you take a look at thier fb they seem to be introducing new styles very frequently opposed to before. then afterpay which is yet to come to nz i think in mid year. theres so much avenues to grow its interest how these will manifest into cash flows. and then when you look at interest rates around the world some negative, aus 1.5 inflation really low even though rates are low and money printing is high , and us 2 . something which we thought will be more but signalled to stop for the whole year. its like what other investments r attractive at these rates, what discount rate do you even use to discount back city chic it rates are 1.5 percent n bonds are returning 2 to 5. confusing times. to me equities will be worth even more than current if this continues. using a 7 percent rate gives at intrinsic value of say 2 dollars and using 10 give about 1.4 or so.