Intrinsic value of Greenlight Capital Re Cl A - GLRE

Previous Close

$14.00

  Intrinsic Value

$7.06

stock screener

  Rating & Target

sell

-50%

Previous close

$14.00

 
Intrinsic value

$7.06

 
Up/down potential

-50%

 
Rating

sell

Our model is not good at valuating stocks of financial companies, such as GLRE.

We calculate the intrinsic value of GLRE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  308.39
  9.70
  9.23
  8.81
  8.43
  8.08
  7.78
  7.50
  7.25
  7.02
  6.82
  6.64
  6.47
  6.33
  6.19
  6.08
  5.97
  5.87
  5.78
  5.71
  5.63
  5.57
  5.51
  5.46
  5.42
  5.37
  5.34
  5.30
  5.27
  5.25
  5.22
Revenue, $m
  0
  709
  774
  842
  913
  987
  1,064
  1,144
  1,226
  1,313
  1,402
  1,495
  1,592
  1,693
  1,798
  1,907
  2,021
  2,139
  2,263
  2,392
  2,527
  2,668
  2,815
  2,968
  3,129
  3,297
  3,473
  3,658
  3,851
  4,053
  4,264
Variable operating expenses, $m
 
  644
  696
  750
  806
  865
  926
  989
  1,055
  1,123
  1,194
  1,186
  1,263
  1,343
  1,426
  1,513
  1,603
  1,698
  1,796
  1,898
  2,005
  2,117
  2,234
  2,356
  2,483
  2,617
  2,756
  2,902
  3,056
  3,216
  3,384
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  541
  644
  696
  750
  806
  865
  926
  989
  1,055
  1,123
  1,194
  1,186
  1,263
  1,343
  1,426
  1,513
  1,603
  1,698
  1,796
  1,898
  2,005
  2,117
  2,234
  2,356
  2,483
  2,617
  2,756
  2,902
  3,056
  3,216
  3,384
Operating income, $m
  43
  65
  78
  92
  107
  122
  138
  154
  172
  189
  208
  309
  329
  349
  371
  394
  417
  442
  467
  494
  522
  551
  581
  613
  646
  681
  717
  755
  795
  837
  880
EBITDA, $m
  43
  541
  591
  644
  698
  754
  813
  874
  937
  1,003
  1,071
  1,142
  1,216
  1,293
  1,373
  1,457
  1,544
  1,634
  1,729
  1,828
  1,931
  2,038
  2,151
  2,268
  2,391
  2,519
  2,654
  2,795
  2,942
  3,096
  3,258
Interest expense (income), $m
  8
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
  75
Earnings before tax, $m
  47
  -11
  3
  17
  32
  47
  63
  79
  96
  114
  133
  234
  254
  274
  296
  319
  342
  367
  392
  419
  447
  476
  506
  538
  571
  606
  642
  680
  720
  762
  805
Tax expense, $m
  0
  0
  1
  5
  9
  13
  17
  21
  26
  31
  36
  63
  68
  74
  80
  86
  92
  99
  106
  113
  121
  128
  137
  145
  154
  164
  173
  184
  194
  206
  217
Net income, $m
  45
  -11
  2
  12
  23
  34
  46
  58
  70
  83
  97
  171
  185
  200
  216
  233
  250
  268
  286
  306
  326
  347
  369
  393
  417
  442
  469
  496
  526
  556
  588

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,665
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Adjusted assets (=assets-cash), $m
  2,665
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Revenue / Adjusted assets
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Average production assets, $m
  1
  3,951
  4,316
  4,696
  5,092
  5,504
  5,932
  6,376
  6,839
  7,319
  7,818
  8,337
  8,877
  9,439
  10,023
  10,632
  11,267
  11,928
  12,618
  13,338
  14,090
  14,874
  15,695
  16,552
  17,449
  18,386
  19,368
  20,395
  21,471
  22,597
  23,777
Working capital, $m
  0
  -2,750
  -3,004
  -3,269
  -3,544
  -3,831
  -4,129
  -4,438
  -4,760
  -5,094
  -5,441
  -5,803
  -6,178
  -6,569
  -6,976
  -7,400
  -7,842
  -8,302
  -8,782
  -9,283
  -9,807
  -10,353
  -10,924
  -11,521
  -12,145
  -12,797
  -13,480
  -14,195
  -14,944
  -15,728
  -16,549
Total debt, $m
  0
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
  1,391
Total liabilities, $m
  1,790
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total equity, $m
  874
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total liabilities and equity, $m
  2,664
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  0.328
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  45
  -11
  2
  12
  23
  34
  46
  58
  70
  83
  97
  171
  185
  200
  216
  233
  250
  268
  286
  306
  326
  347
  369
  393
  417
  442
  469
  496
  526
  556
  588
Depreciation, amort., depletion, $m
  0
  477
  513
  551
  591
  632
  675
  719
  766
  814
  864
  834
  888
  944
  1,002
  1,063
  1,127
  1,193
  1,262
  1,334
  1,409
  1,487
  1,569
  1,655
  1,745
  1,839
  1,937
  2,040
  2,147
  2,260
  2,378
Funds from operations, $m
  -126
  466
  515
  564
  614
  666
  721
  777
  836
  897
  960
  1,004
  1,073
  1,144
  1,218
  1,296
  1,376
  1,460
  1,548
  1,639
  1,735
  1,835
  1,939
  2,048
  2,162
  2,281
  2,405
  2,536
  2,673
  2,816
  2,966
Change in working capital, $m
  -90
  -243
  -254
  -265
  -275
  -287
  -298
  -310
  -322
  -334
  -347
  -361
  -376
  -391
  -407
  -424
  -442
  -460
  -480
  -501
  -523
  -546
  -571
  -597
  -624
  -653
  -683
  -715
  -749
  -784
  -821
Cash from operations, $m
  -36
  710
  769
  828
  889
  953
  1,019
  1,087
  1,158
  1,231
  1,308
  1,365
  1,449
  1,535
  1,625
  1,720
  1,818
  1,921
  2,028
  2,141
  2,258
  2,381
  2,510
  2,645
  2,786
  2,934
  3,089
  3,251
  3,421
  3,600
  3,787
Maintenance CAPEX, $m
  0
  -360
  -395
  -432
  -470
  -509
  -550
  -593
  -638
  -684
  -732
  -782
  -834
  -888
  -944
  -1,002
  -1,063
  -1,127
  -1,193
  -1,262
  -1,334
  -1,409
  -1,487
  -1,569
  -1,655
  -1,745
  -1,839
  -1,937
  -2,040
  -2,147
  -2,260
New CAPEX, $m
  0
  -351
  -365
  -380
  -396
  -412
  -428
  -445
  -462
  -480
  -499
  -519
  -540
  -562
  -585
  -609
  -634
  -661
  -690
  -720
  -752
  -785
  -820
  -857
  -897
  -938
  -981
  -1,027
  -1,075
  -1,126
  -1,180
Cash from investing activities, $m
  -30
  -711
  -760
  -812
  -866
  -921
  -978
  -1,038
  -1,100
  -1,164
  -1,231
  -1,301
  -1,374
  -1,450
  -1,529
  -1,611
  -1,697
  -1,788
  -1,883
  -1,982
  -2,086
  -2,194
  -2,307
  -2,426
  -2,552
  -2,683
  -2,820
  -2,964
  -3,115
  -3,273
  -3,440
Free cash flow, $m
  -66
  -2
  9
  17
  24
  32
  40
  49
  58
  67
  77
  65
  75
  86
  97
  108
  120
  133
  145
  159
  173
  187
  202
  218
  234
  251
  268
  287
  306
  326
  347
Issuance/(repayment) of debt, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total cash flow (excl. dividends), $m
  -72
  -2
  9
  17
  24
  32
  40
  49
  58
  67
  77
  65
  75
  86
  97
  108
  120
  133
  145
  159
  173
  187
  202
  218
  234
  251
  268
  287
  306
  326
  347
Retained Cash Flow (-), $m
  -49
  -11
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  6
  6
  7
  7
  8
  9
  9
  10
  11
  11
  12
  13
  14
  14
  15
  16
  17
  18
  19
  20
  21
  23
  24
  25
  26
  28
  29
  31
  32
Cash available for distribution, $m
 
  -11
  9
  17
  24
  32
  40
  49
  58
  67
  77
  65
  75
  86
  97
  108
  120
  133
  145
  159
  173
  187
  202
  218
  234
  251
  268
  287
  306
  326
  347
Discount rate, %
 
  8.60
  9.03
  9.48
  9.96
  10.45
  10.98
  11.52
  12.10
  12.71
  13.34
  14.01
  14.71
  15.44
  16.22
  17.03
  17.88
  18.77
  19.71
  20.70
  21.73
  22.82
  23.96
  25.16
  26.42
  27.74
  29.12
  30.58
  32.11
  33.71
  35.40
PV of cash for distribution, $m
 
  -10
  8
  13
  17
  19
  22
  23
  23
  23
  22
  15
  14
  13
  12
  10
  9
  7
  6
  4
  3
  2
  2
  1
  1
  1
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events. It conducts its reinsurance operations through two licensed and regulated reinsurance entities: Greenlight Reinsurance, Ltd. (Greenlight Re), based in the Cayman Islands, and Greenlight Reinsurance Ireland, Ltd. (GRIL), based in Ireland. Greenlight Re is engaged in writing property and casualty reinsurance business, as well as long term business, such as life insurance, long term disability and long term care, among others. GRIL is a non-life reinsurance undertaking. Verdant Holding Company, Ltd. makes strategic investments in a select group of property and casualty insurers, and general agents.

FINANCIAL RATIOS  of  Greenlight Capital Re Cl A (GLRE)

Valuation Ratios
P/E Ratio 11.6
Price to Sales 0.9
Price to Book 0.6
Price to Tangible Book
Price to Cash Flow -14.5
Price to Free Cash Flow -14.5
Growth Rates
Sales Growth Rate 308.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate NaN%
Cap. Spend. - 3 Yr. Gr. Rate -100%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 7
Management Effectiveness
Return On Assets 2%
Ret/ On Assets - 3 Yr. Avg. -1.5%
Return On Total Capital 5.3%
Ret/ On T. Cap. - 3 Yr. Avg. -5.8%
Return On Equity 5.3%
Return On Equity - 3 Yr. Avg. -5.8%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 9.4%
EBITDA Margin - 3 Yr. Avg. -60.1%
Operating Margin 7.4%
Oper. Margin - 3 Yr. Avg. -63.3%
Pre-Tax Margin 8%
Pre-Tax Margin - 3 Yr. Avg. -67.2%
Net Profit Margin 7.7%
Net Profit Margin - 3 Yr. Avg. -65.7%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0.2%
Payout Ratio 0%

GLRE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the GLRE stock intrinsic value calculation we used $646 million for the last fiscal year's total revenue generated by Greenlight Capital Re Cl A. The default revenue input number comes from 2016 income statement of Greenlight Capital Re Cl A. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our GLRE stock valuation model: a) initial revenue growth rate of 9.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.6%, whose default value for GLRE is calculated based on our internal credit rating of Greenlight Capital Re Cl A, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Greenlight Capital Re Cl A.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of GLRE stock the variable cost ratio is equal to 92%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for GLRE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Greenlight Capital Re Cl A.

Corporate tax rate of 27% is the nominal tax rate for Greenlight Capital Re Cl A. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the GLRE stock is equal to 0.8%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for GLRE are equal to 557.6%.

Life of production assets of 10 years is the average useful life of capital assets used in Greenlight Capital Re Cl A operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for GLRE is equal to -388.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Greenlight Capital Re Cl A - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 37 million for Greenlight Capital Re Cl A is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Greenlight Capital Re Cl A at the current share price and the inputted number of shares is $0.5 billion.

RELATED COMPANIES Price Int.Val. Rating

COMPANY NEWS

▶ Its Better to Be Rich Than Right   [10:59AM  Bloomberg]
▶ David Einhorn Sticks to Bets as Losses Mount   [May-17-18 08:39AM  Bloomberg Video]
▶ Time To Go Long David Einhorn   [May-10-18 10:57AM  Forbes]
▶ Greenlight Capital Re: 1Q Earnings Snapshot   [05:26PM  Associated Press]
▶ Einhorn Loses on Long and Short Wagers in 1Q   [Apr-04-18 08:31AM  Bloomberg Video]
▶ [$$] David Einhorn, in search of lost time   [Apr-03-18 10:16PM  Financial Times]
▶ David Einhorn's Greenlight Dims   [Apr-02-18 08:23AM  Bloomberg Video]
▶ [$$] Morgan Stanley Is Buying These Four Stocks   [Mar-27-18 08:00AM  Barrons.com]
▶ Greenlight Capital Re, Ltd. Launches Innovation Unit   [Mar-06-18 08:00AM  GlobeNewswire]
▶ Einhorn's Greenlight Sees Red Signs   [Mar-01-18 08:47AM  Bloomberg Video]
▶ [$$] Time to Consider Time Warner   [Feb-24-18 12:01AM  Barrons.com]
▶ David Einhorn's Greenlight Capital Turns Red   [Feb-22-18 09:06AM  Bloomberg Video]
▶ Greenlight Capital Re reports 4Q loss   [05:02AM  Associated Press]
▶ Einhorn's Main Hedge Fund Posts 6.6% Monthly Loss   [Feb-01-18 12:09PM  Bloomberg Video]
▶ Why David Einhorn Is Betting Big on General Motors   [Jan-17-18 10:40AM  GuruFocus.com]
▶ A Green Light for Greenlight Capital Re   [Oct-31-17 05:18PM  Barrons.com]
▶ Greenlight Capital Re posts 3Q profit   [Oct-30-17 05:15PM  Associated Press]
▶ Greenlight's Einhorn Says Tesla Shares 'Deserve Much Worse'   [Oct-24-17 03:21PM  TheStreet.com]
Financial statements of GLRE
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.