GS, I did reply to this. But, to repeat in summary: my valuation model takes into account the risk free rate, the beta of the stock in question, the R squared, the projected dividend payments until the co. goes bust, and the growth of eps to arrive at a pe ratio relative to the market, whatever I decide the market is. I then do a slightly different formula, but still dividends discounted by the risk free rate and a growth projection to determine what the market's real value should be. In other words, a stock selling at 20 times eps may end up being underpriced relative to the market, but if the market is 50% overpriced itself, it could still be a bummer.
I will take a look at Supergen, though I had forgotten since your last note. I have a good memory, it just doesn't last very long. <G>
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