I've talked about this STB (Set top box) maker quite a lot before. I see good growth potential (analysts have 2012 forecasts at 24% growth, for what they're worth). 2011 forecasts predict growth as down 9%, which is partly (but only partly) to explain for the share price weakness. At 98.1p, the shares are on a PER of 4.7, with a very noteworthy EV/EBITDA of 3.2. Pace just looks far too cheap. Think about those numbers for awhile. They're usually the numbers you would expect to see for a company that is in deep trouble, where its viability is coming into increasing doubt. I think this is far away from beeing the case for PIC. There is a lot of economic uncertainty in the world at the moment, that's true. Maybe we're heading for a global depression that will last decades, I don't know. Maybe there will be widespread personal bankruptcy or high levels of distress. IF those things happen, then maybe we can forget about such luxuries as watching the telly. Seeings as we don't know that, I'm suggesting that PIC is far too pessimistically priced. Its current ROE is 28%. Median ROE over the last decade was 19% - although there's certainly been volatility of returns. It looks like a nice little "magic formula" stock.
Belief in God and Cognitive Style
An interesting article is available here. It says:
that those with an intuitive cognitive style tend to have a stronger belief in God than those with a more reflective cognitive style. As defined in the study, intuitive thinkers make judgments quickly, based on automatic processes and instinct. Reflective thinkers prefer to pause and critically examine initial judgments before making a decision.
The study found that intuitive thinkers not only tend to believe more strongly in the existence of God, but their faith also grows more certain over time. Alternatively, reflective thinkers become less certain of the existence of God over time.Tinywm
Nerd alert for all the Linux fans out there! From the site:
TinyWM is a tiny window manager that I created as an exercise in minimalism. It is also maybe helpful in learning some of the very basics of creating a window manager. It is only around 50 lines of C. There is also a Python version using python-xlib.