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Strategies & Market Trends : Buffettology

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To: Shane M who wrote (602)11/25/1998 10:34:00 AM
From: bananawind  Read Replies (1) of 4691
 
Shane,

Not to put too fine a point on it, but WEB in the referenced quote was not saying an internet business is worth zero, just that anyone who thinks they know this value has missed the entire point of business valuation. Without a reasonable way to evaluate probable future cash flows, the range of possible valuations is so wide as to render the exercise useless. That does not make these businesses worth nothing, but leaves their current values in the realm of the unknowable.
-JLF
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