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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up? -- Ignore unavailable to you. Want to Upgrade?

To: Professor Dotcomm who wrote (1982)	7/25/1999 9:49:00 PM
From: Fun-da-Mental#1	Read Replies (2) \| Respond to of 3902

What I meant is that maybe instead of looking at the ratio of price to earnings, we should just look at the fraction of earnings which is actually available to the shareholders, i.e. dividends. But since lots of successful companies don't even pay dividends anymore, the only trace of practical value that stocks have is their voting rights, which are also pretty hard to put a dollar value on. Which I think means that the current value of stocks is not well-supported. JMHO Fun-da-Mental