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Pastimes : How to best deal with KOOKS at this web site

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To: Bill Ulrich who wrote (1016)7/29/1997 12:48:00 AM
From: Gottfried   of 1894
 
MrB, guess I'll argue about 6 after all; Ice said...

6. The concept of a "perfect market", in which the value of a stock is accurately reflected in the market price, is my operating assumption. I see no convincing evidence to the contrary.

Depends on your definition of value. If value is what a buyer is willing to pay, you're right. But then you can never call a stock
under- or overvalued. Most investors define value differently. The simplest formula would be (earnings growth)= (price/earnings) for a
full valuation.

Change of topic: someone revealed his portfolio performance over
the last 3 years and I'm impressed. I wouldn't imitate the method
because of lack of skill.

exchange2000.com

GM
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