Thursday, June 14, 2007

Tom Brown: First Marblehead, Not the Disaster Everyone Seems to Assume

Oh, and the company’s stock is lately trading at 9.7 times earnings for the year that ends in three weeks. That’s a 9.7 earnings multiple for a company that is expected to be growing at 31% annually for the next five years--without BofA and Chase. Also, don’t forget all the excess cash the company will be generating (both from earnings and as its residuals start to throw off cash) that can be used to pay dividends and buy back stock between now and 2012.

What was the problem, again?

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