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Technology Stocks : Dell Technologies Inc.

DELL 127.22

+3.8%

3:59 PM EST

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To: Paul Merriwether who wrote (73083)	10/20/1998 2:10:00 PM
From: Chuzzlewit	Read Replies (3) of 176387

Paul, I suggest you crack open those dusty old econ 101 books, and reread the relevant sections. Whether we are aware of it or not, comparables are used all of the time. Why would you buy a government security yielding 5% this year when you could have purchased the same security yielding 8% some years back? There is nothing trendy in what I said. It is the cornerstone of economics. What makes DELL worth $58? There is no cash flow that the investor receives. Why is a bottle of ketchup priced at $1.49, and why is steak $9/lb. These are all issues that are determined by supply and demand, and to suggest intrinsic value is ludicrous. For example, it would be exceedingly difficult to convince a vegetarians to purchase steak at any price, and I guarantee you that if 90% of the country became vegetarians the price of beef would plummet. It is well known that red meat based diet is unhealthy. Now suppose that Americans heeded the advice of the American Heart Association and eliminated red meat from their diets. Would we now call (in retrospect of course) the beef market a mania? TTFN, CTC

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