Patek Philippe

JC
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Simple exercise

There have been mention of brand names, property, etc etc etc  I do this for a living on the equity markets for a global investment bank and its all just about profitability and growth

Someone mentioned Brand Name and Coca Cola.  Did you know that Coca Cola is valued at only arond 18-20x their projected earnings?  I know many "No Brand Name" companies valued at 30-40x earnings.  Sure the brand name is worth something but it actually drives their earnings through higher margins/returns that derive their prrofit and we all value the company based on profit and projected growth (on a very simplistic level).

Of course their property is worth something but that is used to generate their revenues/proft.  There is some benefit if youwant to sell and lease back the property and many do that kind of deal to release the underlying value which helps to fund the acquistion. BUT tht comes at cost of interest payments and lower net margins in the end.

The museum! well this is another story.  I think this is something you need to pay for on top of profit.  I expect this part of the biz is worth a lot. So i guess you will pay say 20x earnings plus whatever value the watches and artifacts in the museum is worth.....

I would love to own a piece of Patek!!!  Let me know if you need some cash!!!