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Technology Stocks : WDC/Sandisk Corporation
WDC 221.51-0.3%Jan 16 9:30 AM EST
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To: Art Bechhoefer who wrote (24622)1/21/2004 6:11:00 PM
From: Dave  Read Replies (2) of 60323
 
Art:

Applying a P/E multiple while "simple" and "easy" may lead to an inaccurate estimate of value.

John Burr Williams in 1938 wrote a book entitled, "Theory of Investment Value". The basic gist of this book is that any asset is "worth" the present value of all future, expected cash flows discounted at an appropriate interest rate.

The street is "spooked" (for lack of a better word) over SanDisk's gross margin numbers.

I would strongly recommend that you read:

"Expectations Investing"

You can find this book on amazon or half.com
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