The Brink's Company

As a bonus for his 30-year tenure as a driver with The Brink’s Company (BCO), BCO had awarded Kevin with stock options. BCO was a leader in providing armoured car transportation, ATM servicing, currency and coin processing and other value-added services to banks, retailers and other commercial and government agencies around the world. Upon receipt of these options, Kevin had begun to follow BCO’s ticker very carefully and after noticing a 13.9 per cent increase in the share price in a span of three months, Kevin wanted an educated guess about the future of this stock. He turned to his son Robbie for advice, who had recently graduated with a business degree and had completed coursework in value investing and had earned top marks. Robbie knew Kevin was a stubborn risk-taker who had indicated he wanted to put a substantial amount of savings into this stock; Robbie also knew that if the stock plummeted, he would have to foot the bill for his father’s retirement. Robbie realized he had to provide a well thought out valuation of BCO in clear, logical terms as they related to value investing, using coherent language to present his arguments in order to educate his father with a thorough analysis upon which Kevin could make a considered decision.