CLV - Company Profile, page-181

Companies are worth the discounted cashflows they will earn in the future

This means the markwt gets overly enthusiastic at times and the price gets wwy ahead of those discounted cashflows.

Dont get me wrong, this is a fine business but it is worth about 1.20 to 1.40 based on what i know....oh course what i know may not be correct and the business is worth more that i think...hence i still hold it, but if it goes for another leg up then i will sell because its clearly not worth dollars 2 anytime soon