Thanks for this analysis. I found it very clear and easy to follow. I particularly like the analysis of fee earners. However, I also think that most stock market investors struggle to understand professional service firms and how they can grow their fees and profits, so I think something like GSF can more quickly attract buyers because the concepts of discounts to NAV, high and covered dividend yield are easier to understand.
Glad you found it useful and thank you for the idea - it's a good one.
I actually think GSF is a fairly complicated model - least with Professional Services the hourly rates don't vary according to whether the wind is blowing or sun is shining!
https://ii.co.uk/analysis-commentary/stockwatch-next-cheap-share-be-taken-over-ii535397
Thanks for this analysis. I found it very clear and easy to follow. I particularly like the analysis of fee earners. However, I also think that most stock market investors struggle to understand professional service firms and how they can grow their fees and profits, so I think something like GSF can more quickly attract buyers because the concepts of discounts to NAV, high and covered dividend yield are easier to understand.
Glad you found it useful and thank you for the idea - it's a good one.
I actually think GSF is a fairly complicated model - least with Professional Services the hourly rates don't vary according to whether the wind is blowing or sun is shining!
OB