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Technology Stocks : Apple Inc.
AAPL 278.70+0.2%9:33 AM EST

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To: Linda Kaplan who wrote (9644)3/19/1998 3:23:00 AM
From: Moominoid  Read Replies (3) of 213176
 
> Oh. Uh oh. Maybe Phil will take a stab at > the formula. He's very good with
> numbers.

I was reading a finance textbook today trying to figure it out. If you believed the one written by William Sharpe (Nobel Laureate) then the value of Microsoft and Apple should be zero because they don't pay any dividends. Obviously that's rubbish. I'm looking at another one now.

The problem with some of the texts is that they believe in efficient markets and so as there can't be under- or over- priced stocks there's no point trying to work out the fundamental value of a stock.

They don't teach this stuff in econ. degrees either which is why I'm learning it now.

>Australia. It must be wonderful to live there.

One of the big downers is how far it is from everywhere else. I'm from Britain originally and find Australia a lot more like the US than like Europe - I lived in the US for a few years.
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