I agree FPH looks expensive, but on a casflow basis (of the company, not the share), it still stacks up at a 7% discount rate...which is not awful for what is becoming a low-risk company. MFT is at slightly better than that. I don't think there's much upside relative to market, but there's no downside either.

Certainly, I'd still rather be banking on these two internationally diversified companies compared yo the gentailers he was advocating...