Saturday, January 12, 2019 12:07:03 PM
Please do not exaggerate: Moelis reckons with retained earnings of 54 billion dollars.
"Retained earnings, 2019 through 2021..."
http://gsesafetyandsoundness.com/
page 7
If a conversion of the JPS to commons, which is unlikely to take place, is discounted out of the calculation, it increases the value of the commons again, though not as dramatically as many think. Because according to Moelis, this conversion would take place at the "IPO" price.
I'm sorry to say your assertion is wrong:
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