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Mr. Cavanagh stood firm, arguing that the valuations were fair.
"We were simply convinced that the valuations here had become absurdly low.
"The move back to REITs," he explained, "reflects the fact that the valuations have retreated".
The problem with these companies is that the valuations are still high relative to the market environment we're in.
"The consumer recovery is a bit unpredictable and it may be that the valuations talked about are illusory".
JPMorgan eventually restated its first-quarter earnings for 2012 downward by $459 million, conceding that the valuations were flawed.
Similar(28)
We all have to deal with that and the valuations that we pay.
"It's about how do you get investors to realize that there are opportunities in these cities. [And that] the valuations are lower for those companies than they would be if they were in New York City or Palo Alto".
That axiom became part of the feedback loop that catapulted the valuation of Internet companies.
Exide's creditors committee had argued that the valuation should be $1.5 billion to $1.7 billion.
In February, the company had assured analysts that the valuation was reasonable.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com