Quote Originally Posted by blackcap View Post
I do remember vividly. I was a dealer at the time. Interest rates on deposits were in the order of 7-8% as well. Huge difference with now. Try putting a WACC of 12% in a DCF as opposed to 5%. Makes the wold of difference.

But I too am looking at all this unfolding with bewilderment.
It's like watching a slow-motion train wreck. I can't take my eyes off it.

We're very cash-heavy (a good place to be, at the mo') and ready to snap up some good deals when the market returns to realistic levels. Not jumping back in just yet though...