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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Boca_PETE who wrote (5268)5/31/1998 12:07:00 AM
From: kahunabear  Read Replies (1) of 42834
 
Pete,

If accounting principles do what they are supposed to do, shouldn't book value be a reflection of the value of underlying net assets ?

No conspiracy theories here. In fact, I don't understand why people don't see what seems like obvious fundamental overvaluation to me. I see plenty of evidence without blaming the accountants of the world. I just wonder who the scapegoats will be if we ever get a major dose of RATIONAL exuberance.

Thanks for your posts.

WS
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