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Politics : Ask Michael Burke

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To: PaperChase who wrote (66512)	8/20/1999 4:23:00 PM
From: Skeeter Bug	Read Replies (1) of 132070

pc, hwp is overvalued based upon the tbill. you assume relative valuation to peer companies is the best way to measure a company's worth. do you know what this means? you can love to buy a company at 3x but hate it at x, all else being equal. iow, you could love to pay 3x as much for the same business, all else being equal. imo, that reasoning gives reasoning a bad name. it can work. so can a monkey w/ a buy button. but it won't work forever and the downs will wipe out the ups over the long hall. you know, when you buy at 3x, the peer group falls, and you sell at x.

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