"Brian follows a true value approach, seeking companies that trade at a discount to historical valuations, " argues Stack.
In order for a real estate stock to gain consideration it must trade at a discount of at least 10% to its net asset value.
To compete with Samsung, Apple has been forced to offer a trade-in discount of 7, 000 rupees towards a new iPhone 4.
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The opposite trade occurs when ETF shares trade at a discount to their underlying securities.
Instead of owning one, own index futures, which trade at a discount whenever stock yields are higher than short-term interest rates.
Their shares trade at a discount to the other Italian banks because of their takeover-resistant structure, and they lack economies of scale.
But falling European demand means falling Brent oil prices, which in turn means cheap Russian-based Urals Mountain oil prices that already trade at a discount to Brent.
He also found that it is very important to separate companies that trade at a discount because they are financially distressed from companies that are unfairly trading at a discount.
The shares have climbed more than 35% since, yet still trade at a discount of 23% to book value, the difference, or net worth, between its assets and its liabilities.
By comparing conglomerates' constituent businesses with similar, stand-alone ones, Mr Stendevad calculates that they now trade at a discount of around 9% more or less where things stood before the crisis of 2008.
He notes that the stock continues to trade at a discount to its peers, such as Kroger (KR) and Safeway (SWY) based on p-e ratios and price-to-EBITDA (earnings before interest, taxes, depreciation and amortization) multiples.
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The reason firms don't do that is to avoid a significant overhang in the stock, which means other shares trade nervously, and at a discount.
Shares of France's Unibail, says Corl, trade at a 16% discount to its real estate value.
Emeralds mined in Brazil and South Africa tend to trade at a 50% discount to Colombian stones.
Also, ETFs may trade at a premium or discount to their underlying holdings, which can help or hurt investors.
Today, Chinese stocks trade at a 20 percent discount.
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On a price-to-book basis, shares currently trade at 1.34x, a 47% discount to the industry average of 2.53x.
Actrade International, New York City, helps companies export products via an overseas network of distributors, and buys domestic commercial trade acceptance drafts at a discount.
For example, even with their recent surge, nearly all of the top gainers in the Forbes Investor over the past six weeks continue to trade at historically low valuations and at a discount to their larger peers.
"If you look at our stock and you do some analysis on it, the multiples that we trade at, the valuation that we trade at, in my opinion, is at a discount to our comps, " he said.
The company's shares trade in lockstep with the price of oil and at a discount to more well-rounded (but less profitable) competitors Jacobs Engineering and Fluor.
Shares of Digital Realty currently trade at 14.4x 12-month forward earnings, a 3.4% discount to the peer group average of 14.9x.
Many REITs in America trade at a small premium to NAV, while most of their British counterparts are at a discount.
FORBES: The U.K. has joined the REIT revolution. Buy sparingly.
Discount brokerages like Charles Schwab, E-Trade, Fidelity and TD Ameritrade do a healthy traffic in these derivatives.
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