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Re: friendofthedevil post# 3673

Thursday, 12/11/2014 1:31:43 PM

Thursday, December 11, 2014 1:31:43 PM

Post# of 8545
It occurred to me today that Ramsay did say something that changed one of my basic assumptions. During the Q&A, an analyst who claimed to be new to the company asked about royalty rates. The CFO answered with the company's stock "mid single digits" but then refined the answer to say that most analysts are using the 3-5% range. That suggests to me that 4%, even 3%, is more likely than 5%.
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