That’s not a norm, but I do so since one pays for the operating income of the business. Other Income sources are multi-dimensonal and non-comparable across businesses. The adjustment calibrates the differences to have a better comparison across buisnesses.
I cross-checked and my data has lag of 1 quarter [revised the header in the earlier note]. Intent was to roughly highlight rich valuations for most names in the portfolio.
| Subscribe To Our Free Newsletter |
