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Technology Stocks : Internet Capital Group Inc. (ICGE) -- Ignore unavailable to you. Want to Upgrade?

To: bubbarayjr who wrote (1013)	1/10/2000 10:27:00 AM
From: still learning	Respond to of 4187

I don't think he made your point. Not using PE to guage a capital appreciation vehicle simply means that we don't use recognized capital gains as the only measure of whether something is worth more. If ICGE's NAV went up to $350 due to IPOs, but they sold not a single share, would you still think it was overvalued? Yet they wouldn't necessarily have earnings. I believe today they mark to market, but that decision is hcangeable. SFE does not mark to market, therefore it largely recognizes "revenues" and "earnings" only when it sells stoc and tackes capital gains, but that has little to do with its appropriate mkt cap. If ICGE took on the old SFE model and spun out most or all of its shares in IPOs, it would also show no earnings, but that too would have little to do with whether it was creating add'l shareholder value.