Security National Financial (NASDAQ:SNFC.A) shareholders are no doubt pleased to see that the share price has bounced 32% in the last month alone, although it is still down 15% over the last quarter. Unfortunately, the full year gain of 3.1% wasn’t so sweet.

All else being equal, a sharp share price increase should make a stock less attractive to potential investors. In the long term, share prices tend to follow earnings per share, but in the short term prices bounce around in response to short term factors (which are not always obvious). The implication here is that deep value investors might steer clear when expectations of a company are too high. Perhaps the simplest way to get a read on investors’ expectations of a business is

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