Using a Discounted Cash Flow Model in Valuation

I have written a few posts recently offering valuations of companies I am either interested or invested in.  As a result, I have had a few questions regarding how exactly I implement discounted cash flow (DCF) calculations into my valuations.  This week I have therefore decided to write a little about how and why I incorporate  a DCF when looking at companies.

Discounted

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Where Next for £NXT? A Valuation.

“When the facts change, I change my opinion.  What do you do, sir?”

On January 4th, Next (£NXT) released a largely negative trading update that catapulted them into the public consciousness.  Not a day went by that I wasn’t offered an article discussing the fallout from this update, which led me to think about the likely apocryphal quote from John Maynard Keynes, written above.  Like any sensible investor I am led to ruminate on one of my worst performers of 2016, and whether it may now be time to throw in the towel.  So, have the facts changed?

£NXT

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