WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 139.09

-0.8%

Nov 21 9:30 AM EST

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To: orkrious who wrote (11500)	5/26/2000 11:22:00 AM
From: Bargain Hunter	Read Replies (1) of 60323

Steve said: "The price of a stock is only determined by what someone is willing to pay for it and nothing else." Jay said: "A more precise definition is the present value of the future cash flows of the company." Steve is defining price while Jay is defining value. In an efficient market they would always be identical. Anyone who has difficulty understanding the current price of a security based on calculated value is either miscalculating the value or is mistakenly assuming that the security markets are efficient. [Aus, are you listening?] The best time to buy or sell is when market inefficiencies under- or over-price securities. But, as I said before, it is only with hindsight that these opportunities can be identified clearly.

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