Sounds like a market for lemons (perhaps that explains the very low valuations). For an owner, barring some personal circumstances, it makes little sense to sel

Sounds like a market for lemons (perhaps that explains the very low valuations). For an owner, barring some personal circumstances, it makes little sense to sell unless he forsees problems in the near-ish future. Otherwise, as holding the company for just 2.5 more years doubles his profits, it sounds smart to hold on to it for as long as possible and only sell when he feels that a decline is coming.