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As a result, value investors following the ModernGraham approach based on Benjamin Graham's sac longchamp soldes methods should feel comfortable proceeding with further research into the company and comparing it to other opportunities. From a valuation perspective, the company appears to be undervalued after growing its EPSmg (normalized earnings) from $3.74 in 2010 to an estimated $5.74 for 2014. This michael kors fake bags level of demonstrated growth supports the market's implied estimate of 4.58% earnings growth and leads the ModernGraham valuation model, which is based on Benjamin Graham's formula, to return an estimate of intrinsic value falling within a margin of safety relative to the price.yq0606

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