the bill foley buying bill foley pro forma trading at < 9.5x 2021 with a pretty favorable macro backdrop is 🤔
people hate the deal, but foley is arguably one of the top capital allocators of last twenty years
people hate the deal, but foley is arguably one of the top capital allocators of last twenty years
market never pays a multiple for title b/c always worried about refis "when rates go up"
2018 showed rates aren't going up for a long time + now have natural hedge
market saying multiple should go down b/c of life biz but can argue should go up b/c certainty of growth is higher
2018 showed rates aren't going up for a long time + now have natural hedge
market saying multiple should go down b/c of life biz but can argue should go up b/c certainty of growth is higher
saas stocks prob look good too tho
