Edit: Please Note this post is now out of date (see comments below) 

Answer: No. The buy thesis is broken by announcement dated 3/6/2014. Update to come.

Some readers might be interested to know a little more about the Discounted Cash Flow model that I use on this website, as it is quite eccentric. I've had a few questions, but to date, no-one has been able to work it out.

The recently listed Beacon Lighting Group Ltd (ASX: BLX) may be of interest. It’s shares were way oversubscribed in the IPO and its share price went up 60% on listing. However, we still see good value at current prices.

At the time of writing (just before 1pm) on Friday March 21st, the All Ordinaries are at 4338.

Please note: this report is very old to the point where it is arguably useless. You must not consider it to be current. Many things may have changed, and it may well be that I no longer believe this company to be an attractive option. Please consider it an archive only.

Vocus Communications Limited (ASX: VOC) has pulled the annoying stunt of releasing its results 15 minutes before the market opened. I've had a quick look at the report, and decided to add the company to the Hypothetical Ethical Share Portfolio at the last traded price of $3.52 (at the time of writing). [Edit: buy price will be $3.70 or closing price today... see comments below]. [2nd Edit: whoops I added it at $3.77 instead]

I’m going to keep it short and sweet. I’ve sold out of all my Affinity Education Limited (ASX:AFJ) because my thesis is broken. In my very recent article on the company, I compared Affinity Education to G8 Education Group. I wrote:

Maybe Affinity Education has bought the worst Childcare Centres on the market, or their centres are simply not as impressive as G8′s. Because of a relatively short history as a company, we just don’t know when it comes to Affinity Education.

I've been a bit busy lately, but I wanted to record my notes on Azure Healthcare Ltd (ASX: AZV). Over the weekend I had a discussion about Azure with Motley Fool analyst Mike King, who noted that the half yearly results looked interesting. I believe the results reduce the risk of the investment (which is somewhat speculative), and I bought shares in the company on open yesterday at 27c and 27.5c. The purchase was funded by selling my remaining shares in Cryosite (ASX: CTE) at 46c, and selling 10% of my Global Health (ASX: GLH) shares at 70c, so it will be interesting to compare the investment to those two options in the future.

Edit: This company has been sold from the Hypothetical Ethical Portfolio at the closing price of $1.50 on Tuesday 25 February. At the timing of writing, I sold half my real life shares at close, and it is likely I will sell the rest tomorrow. The thesis below has broken. I sold my shares and will not buy back. I've had hysterical emails in response to this post saying things like "Big, big, Big mistake...The hugest you will probably ever make.  I would like to see you get any money back from these people." I don't appreciate the ramblings of people who have allegedly been badly burned by those involved with Affinity Education, if they do not even understand the basics of publicly traded shares. I was very promptly emailed about this company within 48 hours of publishing the thesis below, I have done further research and sold my shares. If you have been burned by these people, feel free to not send me abusive emails. The first emailer was very helpful and polite - if you can't be those things, go vent your frustration elsewhere.