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Politics : Formerly About Advanced Micro Devices
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To: Reginald Middleton who wrote (28710)2/24/1998 2:54:00 AM
From: Petz  Read Replies (1) of 1572771
 
This debate on stock price valuation models is interesting. In the case of AMD, the discounted value of future cash flows is basically unknowable, because the future production is not knowable. A smart investor has to assign probabilities to future profits, but even if God himself hold him exactly what was going to happen, thats no guarantee of making money.

Thats because it doesn't matter what the stock is really worth -- who cares? What will the market think its worth? That is the basis of contrary opinion. When publicity is concentrating on the negatives, the probability is that the "market overall" will not become even more negative on the stock.

Having said all this, your web site looks interesting and I'll have a look after acrobat reader is fixed on my machine.

Petz
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