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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (4216)8/8/2002 5:55:12 PM
From: SOROS  Read Replies (2) of 89467
 
Another "quality loan" to Brazil. Just more of the same Clinton, now Bush mentality -- "live for today and let tomorrow take care of itself because I might be dead anyway, so who gives a rat's ass."

Citigroup jumped 7.6 percent, or $2.38, to $33.90 and J.P. Morgan Chase & Co. rose 9.7 percent, or $2.33, to $26.37 as banks that had lent money to Brazil got a lift on news of the International Monetary Fund's $30 billion bailout for South America's biggest economy.

Is it just me, or is there something wrong with this picture?

Company....Assets.minus.Liabilities..=Market Cap

QCOM.......6B......... - ....1B...........=20B

MSFT.......68B........ - ....14B..........=264B

INTC.......44B........ - ....8.5B.........=122B

CSCO.......37B........ - ...8.7B..........=96B

KKD.........298M...... - ...99M...........=1.89B

WMT........85B........ - ...49B...........=218B

YHOO.......2.7B....... - ....526M.........=7B

I don't think MARKET CAP means what it is supposed to mean. Are not "investors", when they purchase stock at today's prices, in effect, saying that if they had the money, they would be willing to pay the market cap for the entire company? INSANITY usually results in being locked up or an early death on the streets. No doubt where this market is eventually headed.

I remain,

SOROS

p.s. Now I guess I have to explain my humor. Another guy printed my "assets-liabilities=market cap" and "explained" market cap to me! My humor escapes most. Pity.
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