老唐的估值体系：

在All cash is equal 的原则下，对于符合三大前提的企业，不区分行业特色，不区分历史波动区间，一律以无风险收益率的倒数作为三年后合理估值的市盈率水平。
<即无风险收益率为3%~4%之间，取值25~30倍市盈率。依此类推>

对于部分净利润含现金量低于100%，但其他方面都符合的企业，对净利润予以折扣处理。体现在速算中就是取稍低的市盈率，即1×80%×25=1×20。

三年后合理估值的50%就是理想买点；当年市盈率超过50倍，或市值超过三年后合理估值上限的150%，就是卖点，以先到者为准；

期间波动不关我事，呆坐不动。 整个估值体系只有一个未知数：预计该企业三年后的净利润。

Wear out your fashion you feel # surprise no surprise # Whoops feed you shoes really nice # you taste you fine # high heels can not give flat shoes stable
Flowers you sing small coal to Lou teacher to buy a pair of leather shoes, remember don't forget, coal is also more more teacher also buy a pair of small leather shoes Alike, are equal, I don't understand why you have to sing Peng Jun to fine teil tree straw to pull her to do double broken straw sandals, but you don't say, today, the broken straw sandals price also Philippines, isn't she a open harvard graduate schools, Can't compare with TEACHER Chen Lu two west politics, North China youth Chinese people's Congress I wonder

A strong sense of likes and dislikes inevitably forms opposition with others and easily invites conflicts. Therefore, a more equal sense of likes and dislikes brings more happiness, and more understanding of others leads to more forgiveness.
好恶心太强，必然和他人形成对立，也容易引起对方抵触。多一分平等，就多一分安乐；多一分理解，就多一分宽容。