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Pastimes : Ask Mohan about the Market
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To: Zeev Hed who wrote (12387)12/26/1997 7:25:00 PM
From: Joan Osland Graffius  Read Replies (1) of 18056
 
Zeev, >>Of course, to avoid facing reality, the bean counters there are changing the method of valuation from "market" to "book value", and book value, my friend, can be made what you want it to be.

I thought the Japanese had been keeping there books this way all along. Like in the case of Real Estate, carring the acquisition price on the books not the market value, same with corporate stocks, etc. I recall the mess when they sold some property in the US, I think it was RC in NY, a few years ago the Japanese owners asset value was the purchase price and they sold it for 50 cents on that dollar.

Joan
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