About this archive
Value = Future cash flow discounted by a risk adjusted cost of capital.
That sentence is the house device of the publication reproduced here. It was written by Michael Ghioldi on 7 February 2014 and is quoted as it was published.
About this archive. AFG Indexes ceased operating at this address. The pages here reproduce material previously published on afgindexes.com for reference. Nothing on this site is current, and nothing here should be relied on for decisions. This archive is independent: it is not affiliated with, endorsed by, accredited by, or operated by any company, institution, agency, society, publication or individual named in the archived material.
If you previously operated this domain and wish to discuss the archive, please get in touch: iamvaibhavsharda@gmail.com.
The era this material dates from
The nine entries reproduced here were published at this address between 18 November 2013 and 17 December 2014, on a Squarespace site titled “AFG Indexes” with the tagline “An Applied Finance Group Project”. Every entry is bylined Michael Ghioldi. No later or earlier era of the domain is reproduced.
Date of restoration
These pages were rebuilt and published on 10 August 2026.
What is not reproduced
The original pages behind the navigation labels AFG Indexes, AFG Focus Lists, About and Subscribe To Our Newsletter did not survive and have not been recreated; those labels appear as historical section names only, and no subscription, index or advisory service is offered from this address. The chart and table images that accompanied several entries were served from a host that no longer resolves; where an entry refers to a chart, a note records what the chart showed rather than substituting an invented one. No index level, performance figure, valuation or recommendation has been added to, updated in, or inferred from the recovered text.
Requests from a prior rights holder
The operator of this archive will remove any material, or transfer it to a prior rights holder, on request. Write to iamvaibhavsharda@gmail.com and the material will be taken down.