Even though the market was rising, most stocks were selling at discounts to replacement value and even to book value.
In 1997 he launched Valero on a spending spree, eventually grabbing 14 refineries for a slim fraction of their replacement value.
The problem was no bells rang on Wall Street when the market value line approached the replacement value line on your chart.
Instead, people should be insuring items for their retail replacement value, which means getting an appraiser to assess art works or other collectibles on that basis every few years.
Being a value investor in the Graham and Dodd style, Levy would like to own shares of a company whose products are in great demand, but only if that company is selling on Wall Street at lower than replacement value.
These find that, when the ratio (suitably adjusted to take care of accounting discrepancies) moves far above one, equilibrium is indeed eventually restored not, however, by a surge in the replacement value of companies' assets but by a correspondingly dramatic fall in the value that Wall Street places on them.
If all women had this ability, survey data shows, average global childbearing would immediately fall below the 'replacement fertility' value of slightly more than two children per woman.
CNN: Africa's birth rate: 'Why women must be free to choose'
Back-row replacement Andy Powell proved his value as an impact player with some powerful running, but Toulouse continued to threaten as the minutes ticked away.
And there is Tobin's q, a ratio of the stockmarket value to the replacement cost of its tangible assets an attempt to measure what it would cost to recreate a company from scratch.
ECONOMIST: A survey of global equity markets: Valuation waltz | The
For insurance purposes, the replacement cost of a home is NOT the market value of the home, its purchase price or the outstanding amount of any mortgage loan.
In just a few months, we have seen encouraging changes that will benefit all shareholders including the replacement of 9 out of 14 board members and significant value creation for stockholders.
The numbers are based on FanGraphs' projected 2012 wins above replacement (WAR), a statistic used to compare a player's value to the average Triple-A fill-in.
Instead of focusing on aggregate demand replacement, policymakers should view government stimulus spending from an economic return perspective that focuses on the potential value created by government spending versus the potential value created by private spending.
After that, it can't compete with newer, fresher hotels unless its renovated at a cost approaching its replacement cost (which isn't really worth doing unless it's in a really high-value location, near a major mall, hospital, or other serious demand generator).
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